Sainsbury’s believes chief exec Mike Coupe’s travel fears are over after Egypt drama April 29, 2015 Sainsbury’s said last night it was confident that chief executive Mike Coupe no longer faced travel restrictions to countries with extradition treaties with Egypt after flying to the country this weekend to appeal against allegations of embezzlement. In a bizarre case dating back to Sainsbury’s disastrous foray into the country 16 years ago, Coupe [...]
Sainsbury’s share price drops after chief executive Mike Coupe is sentenced to two years in an Egyptian jail April 29, 2015 Sainsbury's has strongly denied any wrongdoing after its chief executive Mike Coupe was sentenced to two years in prison for alleged embezzlement. Coupe was compelled to attend a court hearing in Giza, Egypt in September after he was accused of attempting to seize cheques linked to a business the supermarket invested in 16 years ago. [...]
City Moves for 28 April 2015 | Who’s switching jobs April 27, 2015 Saffery Champness Liz Hazell has been appointed head of the accountancy firm’s not-for-profit group. She has more than 20 years’ experience working in the sector and, before joining Saffery Champness last year, Hazell was head of charities at PwC. Freshfields Bruckhaus Deringer The law firm has announced that Jennifer Bethlehem and Piers Prichard Jones have [...]
HSBC provides bounce as FTSE hits new highs – London Report April 27, 2015 THE FTSE rose to another record high yesterday as reports suggesting HSBC will spin off its British retail bank in a £20bn ($30bn) deal boosted stocks. The banking giant was up 3.1 per cent and has already said it is reviewing whether to keep its headquarters in London, given increased regulation and the possibility of [...]
London Fashion Week ditches Somerset House for Soho April 27, 2015 London Fashion Week is leaving its home at Somerset Home to take up a new venue in Soho. The 62nd edition of the biannual fashion show will take place in September at Brewer Street Car Park, across two floors. It will host more than 100 designers exhibiting their latest collections to buyers from the [...]
HSBC share price continues surge in London and Hong Kong after UK HQ review and potential Brit spin-off revealed April 27, 2015 Shares in HSBC have surged in early trading extending last week's gains, made after it was revealed the bank was considering relocating away from the UK. HSBC shares opened three per cent higher in London today following reports over the weekend that Britain's largest bank could spin off its UK business into a separate division and [...]
Rugby club Wasps to raise £35m in retail bond offering April 27, 2015 Rugby club Wasps is raising up to £35m of debt in a retail bond offer, hoping to tap up fans with a payout of 6.5 per cent on the debt instruments. It is pitching the paper as a safe investment, on the basis that the vast majority of its income is in fact not [...]
Warm reception for HSBC boosts chance it will move to Hong Kong April 27, 2015 HSBC’S bosses received a substantially warmer welcome from investors in Hong Kong than at its annual general meeting (AGM) in London on Friday, City A.M. understands. It comes at a crucial time for the UK-based banking giant as it considers moving its headquarters out of the UK, in response to the rising tide of regulation [...]
More shoppers are supporting living wages April 26, 2015 Public sentiment toward the living wage campaign – the campaign to get employers to pay workers a calculated wage higher than the minimum wage – is on the climb. A survey published today by financial services firm KPMG found that seven out of 10 UK adults would consciously shop in favour of a retail chain [...]
BMW’s Peter Walker says being an official partner of England Rugby is no joke for his firm April 26, 2015 Before April finally gives way to May, let us take you back to the start of the month, and the avalanche of sometimes extremely entertaining, sometimes immeasurably unamusing April Fools that organisations feel duty bound to overwhelm us with to show how cutting edge or just plain “one of us” they are. BMW did one. [...]