Ailing economy puts strain on UK tech growth August 12, 2019 Following seven years of consecutive expansion in the fastest-growing sector of the UK economy, signs have emerged that growth in British tech has begun to slow. Business activity in the UK tech sector dropped from 54.4 in the first quarter to 53 in the second, according to a closely-watched industry bellwether index. Data from KPMG’s [...]
City watchdog launches fraud probe into Goals Soccer Centres August 11, 2019 The Financial Conduct Authority (FCA) has reportedly launched an investigation into fraud at Goals Soccer Centres. The five-a-side football operator announced earlier this month that it was to delist from the stock market after an investigation into its accounting practices found “improper behaviour”. Trading in its shares was suspended in March after it said it [...]
Investec shareholders protest reappointment of auditors KPMG and EY August 9, 2019 Shareholders at Investec have protested against the reappointment of the group’s auditors at its annual general meeting, which also saw protest votes about directors’ remuneration Just over a fifth (20.1 per cent) of votes cast by shareholders opposed the reappointment of KPMG as joint auditor of Johannesburg-listed Investec Ltd, while 16.6 per cent voted against [...]
Uncertainty hits UK jobs market as hiring wanes August 8, 2019 Hiring remained subdued last month, as ongoing political and economy uncertainty continued to cast a cloud over the UK’s job market. Permanent staff appointments tumbled for the fifth consecutive month in July. Read more: US employment reaches new high The rate of growth in starting salaries awarded to newly placed permanent staff also slumped to [...]
City Moves for 6 August – Who’s switching jobs at Accor, Citi and KPMG? August 6, 2019 Today’s City Moves includes Accor, Citi and KPMG. Accor Accor has announced that Karelle Lamouche has been appointed chief commercial officer for Europe. In this newly created role, Karelle will lead Accor’s European commercial team with responsibility for driving the business revenue strategy for the company and its partners across all European markets. Karelle has [...]
July 2019 worst on record for retail sales growth August 6, 2019 Last month was the worst July on record for retail sales growth, according to new data published today in the latest blow for the struggling industry. Total sales growth was 0.3 per cent in July – compared to an increase of 1.6 per cent last year- the lowest level recorded for the month since records [...]
Mike Ashley’s Sports Direct buys Jack Wills for £12.8m August 5, 2019 Retail tycoon Mike Ashley’s Sports Direct has bought struggling high street brand Jack Wills out of administration for £12.75m. Ashley won a race against British billionaire Philip Day, who owns the Edinburgh Woollen Mill Group, to snap up the “preppy” fashion retailer. Read more: Philip Day tables bid to avoid Jack Wills administration Will Wright [...]
UK private equity investment sinks to five-year low August 5, 2019 Private equity investment in the UK has fallen to its lowest level in over five years, as continued economic and geopolitical uncertainty leaves vendors too nervous to put assets up for sale. A study of UK transactions involving private equity investors during the first half of the year showed that both deal volumes and deal [...]
Philip Day tables bid to avoid Jack Wills administration August 5, 2019 British billionaire Philip Day is taking on rival bidder Mike Ashley to keep struggling retailer Jack Wills out of administration. Day’s Edinburgh Woollen Mill Group’s (EWM) offer for the “preppy” fashion brand would seek to avoid a pre-pack administration, it was revealed as the bidding war between the two retail tycoons entered its final hours. [...]
Mike Ashley’s Sports Direct closes in on Jack Wills deal August 4, 2019 Retail tycoon Mike Ashley’s Sports Direct has emerged as the favourite to buy struggling fashion brand Jack Wills Sports Direct is the preferred bidder for the retailer and a deal could be struck as soon as tomorrow, Sky News reported. Read more: Mike Ashley and Philip Day in battle to buy Jack Wills Sources told [...]