Failed wholesaler Palmer & Harvey faces a grilling from MPs in Frank Field’s Work and Pensions Committee centred around its 2008 management buyout January 7, 2018 Failed wholesaler Palmer & Harvey (P&H), which collapsed into administration just weeks before Christmas, is set to be grilled by an influential Commons select committee. Former bosses at the 92-year-old company, which was the UK’s largest cigarette supplier, will come under the Work and Pensions Committee’s spotlight to give evidence on a 2008 management buyout. [...]
House of Fraser appeals for landlord support to cut rents January 6, 2018 UK department store House of Fraser has appealed to its landlords for “support”, asking them to reduce rents at some stores. First reported by Sky News last night and later confirmed by the high street stalwart, the news suggests House of Fraser may have had a rocky time during the pivotal Christmas trading period. House [...]
London house prices dropped in 2017: This is how the experts reacted January 4, 2018 London house prices fell last year for the first time since the financial crisis, and the capital was the worst performing UK region for property price growth for the first time in 13 years. House prices in the capital dropped by 0.5 per cent in 2017, according to the most recent Nationwide house price index, [...]
Fitness advice: How to make new year resolutions that actually work, from healthy eating to extra gym sessions January 3, 2018 Feeling déjà vu? Eaten and drunk far too much this December? Feeling super lazy and unhealthy? belly looking slightly bigger? Despite your best laid plans not to overindulge at Christmas, you did anyway, and now it’s 3 January and you’re still feeling rough from new year’s eve, with anxiety levels through the roof and [...]
Poundland just had its best Christmas ever January 3, 2018 It seems those questionable elf ads did the trick, for Poundland just had its best Christmas since it began trading in 1990, it said today. The bargain retailer said like for like sales in the three weeks to Christmas rose six per cent, while sales in the week before Christmas were 20 per cent higher [...]
Carillion (CLLN) share price falls as it faces investigation by the Financial Conduct Authority over company announcements January 3, 2018 Carillion said this morning it is facing an investigation by the City watchdog over announcements made by the firm over the first half of last year. In a statement, the London-listed company said the Financial Conduct Authority had notified Carillion that “it has commenced an investigation in connection with the timeliness and content of announcements [...]
Day of the Mifids: Controversial EU Mifid II regulations for the asset management industry finally kick in January 3, 2018 A long-awaited regulatory shake-up, touted as the biggest to hit financial markets since the 1986 “big bang”, has finally rippled through the City and across Europe today. The second Markets in Financial Instruments Directive (known as Mifid II) has already cost top global banks and asset managers $2.1bn (£1.5bn), a study from the Boston Consulting [...]
Bitcoin at $50,000? Here’s what analysts say will happen to cryptocurrencies in 2018 January 2, 2018 Bitcoin had a shaky start to the year after a spectacular rise in 2017, so what does 2018 hold for the cryptocurrency? Dennis de Jong, the managing director at UFX, said despite the blip over the Christmas period, there “really isn’t a roof on how high bitcoin can climb in 2018”. “Given the unexpected speed [...]
Sydney plane crash: Compass Group chief executive Richard Cousins, son Will Cousins, named among six killed in New Year Eve crash January 1, 2018 Compass Group boss Richard Cousins has been named as one of six people killed in a plane crash in Sydney on New Year’s Eve. Cousins’ sons Edward and Will Cousins, his fiancee Emma Bowden and her 11-year-old daughter Heather were also killed, alongside the pilot Gareth Morgan. The tourist flight plunged into the Hawkesbury river [...]
Boris Johnson, Chris Grayling, Patrick McLouglin, Justine Greening and Andrea Leadsom face sack as Theresa May mulls New Year Cabinet reshuffle | City A.M. January 1, 2018 A New Year reshuffle of Theresa May’s top team is looking increasingly likely as the embattled Prime Minister continues to face down pressure over her leadership. Boris Johnson could lose his role as foreign secretary to take on a tougher gig involved with Brexit delivery, although allies have told the Sunday Times the Leave-backing minister [...]