Pret A Manger eats Eat but vows to go veggie in new stores May 22, 2019 Sandwich chain Pret A Manger said today it has agreed to buy rival British chain Eat. Pret plans to convert as many of Eat’s shops as possible to Pret stores serving vegetarian food in response to what it said was a growing consumer demand for more vegan and vegetarian options on the high street. Pret’s chief [...]
British competition watchdog to probe JD Sports’ £90m Footasylum merger May 17, 2019 The Competition and Markets Authority (CMA) is investigating JD Sports' merger with Footasylum, it confirmed today. JD Sports recently completed the acquisition of Footasylum in a deal worth £90m. Read more: Thomas Cook shares crash as investors urged to sell Both JD Sports Fashion and owner of Footasylum, the Pentland Group, have been issued with an initial [...]
Asda sales dip on Easter timing as IPO interest mounts May 16, 2019 Asda reported a fall in like-for-like sales today following the later timing of Easter, amid growing City speculation over a possible floatation for the Walmart-owned grocery giant. Like-for-like sales at the group tumbled 1.1 per cent as a result of the holiday shift in the three months to the end of March, Walmart said today, [...]
Barclays and the Royal Bank of Scotland among five banks hit with €1bn fine for forex rigging May 16, 2019 The EU Commission has fined five banks €1.07bn (£940m) for rigging foreign exchange markets for 11 currencies, it announced today. Competition regulators fined Barclays, The Royal Bank of Scotland (RBS), Citigroup, JP Morgan and MUFG Bank, while UBS was not fined as it revealed the existence of the rigging to the regulator. In the first [...]
KPMG UK introduces new audit structure but falls short of full separation May 16, 2019 Big Four firm KPMG said today it was introducing a new structure to move its audit arm away from the rest of its UK business, but falling short of a full separation. The move follows a report from the Competition and Markets Authority which called for a separation of audit from consulting services after a [...]
With increased scrutiny of the profession, it’s time for auditing to be in the public interest May 16, 2019 Auditing in the UK is undergoing unprecedented scrutiny, and the magnifying scope is focusing on all aspects of the sector. The myriad reviews, some of which are ongoing, are being conducted by regulators, politicians and government departments, each separately looking at audit’s effectiveness, competition across the sector, and its future in general. Most notably, the [...]
Walmart mulls Asda IPO after Sainsbury’s merger blocked May 15, 2019 Retail giant Walmart has said it is considering a stock market listing for Asda, just weeks after the supermarket’s failed attempt to merge with rival Sainsbury’s. Walmart International boss Judith McKenna said the US chain is considering an initial public offering (IPO) for its UK subsidiary, but said it was “not rushing into anything”. Read [...]
Non-Standard Finance confident of winning competition watchdog approval for £1.3bn Provident bid May 13, 2019 Non-Standard Finance said it expected to alleviate the competition watchdog’s concerns over its proposed £1.3bn hostile takeover of rival subprime lender Provident. The Competition and Markets Authority (CMA) launched an investigation into the potential deal in February and prevented NSF from taking steps to integrate the two businesses. Read more: Sparks fly as Provident accused [...]
Grave danger: Dignity posts falling profit as death rate dip takes bite out of results May 13, 2019 A dip in the number of Brits dying in the first three months of the year buried profits at Dignity, the funeral provider reported today. It comes as pressure has been growing on the funeral industry, which is facing a competition probe into its practices and prices. Read more: Hymns fall out of funeral charts as [...]
Privacy Policy May 13, 2019 Privacy Notice Last Updated: [24/10/2024] CITY A.M. LIMITED is committed to protecting our customer’s privacy. Please take the time to review this notice which explains what information we collect about you, how we use it, and your rights. CITY AM LIMITED (“THG”, “we” or “us”) is the data controller of the personal data collected via [...]