Uber IPO: Six things you need to know April 13, 2019 After Uber unveiled its pitch to investors ahead of the company's initial public offering, here are six of the most significant things to know. Revenue is plateauing As Uber continue to prioritise growth over profits, the ride-hailing giant's revenue has plateaued. The firm reported an adjusted loss before interest and tax of $1.9bn for 2018, 15 per [...]
Ted Baker concludes review into former boss’ behaviour as it appoints new CEO April 11, 2019 Ted Baker has concluded its investigation into allegations against former chief executive Ray Kelvin as it appointed a new head of the company today. Read more: Ted Baker CEO resigns in the wake of misconduct allegations The UK fashion brand did not comment on the review's findings on Kelvin's behaviour, who denies accusations of misconduct stemming from [...]
Freshfields to be investigated by legal regulator over review into UBS rape allegations April 8, 2019 Magic Circle law firm Freshfields Bruckhaus Deringer is being investigated by the legal regulator over its review into rape allegations at UBS. The City law firm was called in to conduct an independent review after a former trainee graduate alleged she was raped by a colleague nearly 20 years her senior. Read more: Former graduate [...]
Sir Philip Green complaint against Lord Hain gets dismissed April 8, 2019 Sir Philip Green’s complaints against a peer who named him as the man at the centre of sexual harassment and racial abuse allegations were dismissed this afternoon. Read more: Top financial PR firm cuts ties with Sir Philip Green amid allegations The House of Lords standards body has dismissed a complaint from the retail tycoon [...]
Lloyd’s of London will ban drunk staff from the office as it clamps down on harassment with new rules April 7, 2019 Lloyd’s of London is set to share a new code of conduct with employees this week, setting out revised expectations for staff following a series of allegations over the culture at the firm. Last month Bloomberg quoted 18 women who had been subjected to “near-persistent harassment” at the insurance market, with one colleague calling the [...]
The City ‘must change everything’ to improve gender diversity, says L&G personal investing boss Helena Morrissey April 7, 2019 The Square Mile must overhaul its entire structure in order to achieve gender diversity, according to City heavyweight Helena Morrissey. Morrissey, head of personal investing at Legal & General (L&G), said that change is happening too slowly, and called for all processes from recruitment to performance measurement to be challenged to boost diversity. Read more: [...]
More than a quarter of investment bankers say work is damaging their health in ‘disturbing’ review findings April 2, 2019 More than a quarter of investment bankers said their work was damaging their health as the “disturbing” findings of a survey revealed efforts to improve workplace culture have stalled. The Banking Standards Board have raised concerns today over the wellbeing of bank employees in its latest annual review. The survey of more than 72,000 employees from [...]
Topshop owner Philip Green makes list of stores he wants to abandon March 28, 2019 Embattled retail boss Sir Philip Green is reportedly looking to sever his ties with as many as 67 Arcadia stores in a bid to save the troubled fashion firm. According to reports in today’s FT, a swathe of high street and shopping centre stores under Green’s Arcadia group – which includes Topshop and Dorothy Perkins [...]
Lloyd’s of London loses £1bn in year of natural catastrophes as it grapples with harassment scandal March 27, 2019 Insurance market Lloyd’s of London, currently embroiled in a sexual harassment scandal, said today it had made a loss of £1bn for 2018. Lloyd’s said it paid £19.7bn in claims last year, leading to an aggregate loss of £1bn, down from £2bn the year previously. The exchange had gross written premiums of £35.5bn last year, [...]
Lloyd’s of London unveils ‘robust plan’ to create safe workplace following sexual harassment claims March 26, 2019 Lloyd’s of London has unveiled a “robust plan” to create a safer workplace following reports of sexual harassment. The package of measures focuses on making it easier for staff to lodge complaints and includes an independent survey on the company’s culture and a review of practices. Read more: Shadow City minister pushes Lloyd's of London [...]