Royal London attacks Sports Direct over corporate governance issues ahead of AGM September 4, 2016 Two major investment firms are set to join a revolt against Sports Direct’s corporate governance at a crunch AGM on Wednesday. Royal London and Hermes will vote against several board appointments. Royal London Asset Management, which owns a £2.75m stake in the retailer, also pushed Sports Direct to commission an independent external review into its working practices. The [...]
Marks & Spencer set to axe 500 jobs at head office in London September 3, 2016 Marks & Spencer is set to axe around 500 jobs at its head office in London. The cull of around 15 per cent of roles is expected to be announced next Thursday. Sky News first reported that more than half of the cuts will affect contractors. Read more: M&S pay row: New offer for workers – [...]
MPs and campaigners deliver petition against M&S pay changes to the retailer’s flagship store September 1, 2016 MPs and campaigners turned up at Marks and Spencer's flagship store in Marble Arch today to deliver a petition – signed by 90,000 people – voicing concerns about the company's proposed pay cuts. Under the proposed changes, staff will lose the pay premiums they receive for working on Sundays and Bank Holidays and will face reduced pension [...]
Before the bell: What you need to know before the US market open September 1, 2016 The pound has leapt against the dollar after the UK's manufacturing sector smashed expectations and China's manufacturing sector has also bounced back. Here's what you need to know before the US market open at 2:30pm London time. Pre-market futures are looking mixed ahead of the open. The S&P is off by 0.1 per cent, while the Nasdaq is [...]
City Moves for 1 September 2016 | Who’s switching jobs September 1, 2016 Knight Frank Knight Frank residential development has appointed Tom Hawkins as partner in its new homes team. Tom joins the firm from Hamptons International, where he worked for 10 years and latterly ran the new homes sales team. Tom previously led the sales of Portobello Square, W10, Aberfeldy Village, E14, and Rathbone Market, E16 – the [...]
Before the bell: What you need to know before the US market open August 31, 2016 Global economic headwinds are increasing and Eurozone inflation data has proven a disappointment. Here's what you need to know before the US market open at 2:30pm London time. US market futures are more-or-less flat ahead of the open. The S&P is down by 0.02 per cent, the Nasdaq is flat, and the Dow is 0.04 per [...]
City Moves for 31 August 2016 | Who’s switching jobs August 31, 2016 Game Digital Game Digital has appointed Guy Lister as chief operating officer. The newly created role, reporting directly to Game Digital CEO, Martyn Gibbs, will see Guy lead all areas of Game Digital’s UK retail operations, including stores and eCommerce, supply chain, marketing and finance functions. Guy joins from Office Shoes where he was chief customer and marketing officer. [...]
Liberty Media could zoom into pole position on Formula One deal with £6.4bn bid August 25, 2016 Liberty Media has become the latest company to throw its hat into the ring for the controlling stake of Formula One (F1) with a $8.5bn (£6.4bn) bid. The controlling stake in F1's parent company is currently owned by CVC Capital Partners, which has a 35 per cent stake and has held its position since 2006. According to Sky News, [...]
Before the bell: What you need to know before the US market open August 25, 2016 Jackson Hole – the annual US economic symposium – is now underway with market watchers keenly awaiting clues on a September Fed rate hike. Here's what you need to know before the US market open at 2:30pm London time. US markets are not looking perky ahead in the pre-market. The S&P is off by 0.24 [...]
Pizza Express revenues up but struggles to keep same slice of the UK casual dining market August 25, 2016 Pizza Express posted robust revenue growth today but the casual dining group struggled to maintain its slice of the UK eating-out market. The figures Turnover grew by 14 per cent to £488m in the year ended 26 June, up from £423m in 2015. In the UK and Ireland like-for-like sales were down by 1.3 per [...]