UK supermarket giants launch £675m cartel lawsuit against fish farmers March 6, 2024 Several UK supermarket giants have bound together to launch a competition claim against different fish farmers, accusing them of operating a cartel-like operation. Asda, Iceland, Marks and Spencer, Ocado, Morrison, International Seafoods, Aldi and the Co-Op have all brought a lawsuit to the Competition Appeal Tribunal (CAT). The claims are against fish farmers, Seashore, Cermaq, [...]
London’s Big Law hires near record level despite recession March 5, 2024 Law firm partner hires in the first two months of 2024 ran at the second highest pace on record. According to data provided by legal recruiter, Edwards Gibson, there were 101 law firm partner moves in the first two months of this year, an increase of 7 per cent on the number of hires the [...]
Former Autonomy boss Mike Lynch settles data claim with SFO days before trial March 5, 2024 Mike Lynch, the former boss of software firm Autonomy, has settled his lawsuit with the Serious Fraud Office (SFO), days before the parties were due in court. Lynch filed a data lawsuit against the UK’s fraud agency at the end of January, ahead of his criminal trial in the US. According to his claim form [...]
Why are more boardroom executives checking into rehab? March 1, 2024 More boardroom executives are checking into rehab in recent years, according to the UK's only purpose-built addition clinic - this is why.
Spending on discounts rises four per cent as Brits do Valentine’s Day on a budget February 27, 2024 Consumers’ spending on offers increased by four per cent in February, worth £586m more than the same month in 2023, as Brits continue to seek out discounts despite cooling inflation.
Mike Lynch: Extradited businessman hires Boris Johnson and Man City’s lawyer Lord Pannick for SFO data fight February 21, 2024 Pannick was reportedly on £10,000 an hour during Boris's Partygate hearing, when treble-winners Manchester City hired him to fight financial fair play breach claims.
With UK dividends disappearing overseas, it’s time to resurrect employee ownership February 6, 2024 Promoting employee ownership is an opportunity to empower Brits and boost the economy, writes Bartek Staniszewski.
Morrisons: Revenue creeps up as private equity-owned supermarket fights debt pile January 31, 2024 Earnings at private equity-owned Morrisons have laid largely flat for the year, according to an update by the supermarket. Revenues excluding fuel topped however £14.9bn in the 2022/23 financial year up just 2.9 per cent the year before. Like-for-like sales also only managed to climb 1.8 per cent. Additionally, full year EBITDA crawled up 6.5 [...]
Morrisons sells forecourts arm to group under same PE owner in £2.5bn deal January 30, 2024 Supermarket Morrisons has completed a £2.5bn deal to sell its 347 petrol stations to Motor Fuel Group (MFG). Both Morrisons and MFG are owned by Clayton Dubilier & Rice (CD&R), the American private equity firm who bought the supermarket three years ago. As part of the transaction Morrisons will take a minority stake of approximately [...]
Superdry: Losses widen, CFO quits and boss admits a ‘difficult’ period January 26, 2024 Embattled retailer Superdry posted further losses in its half year update, blaming a challenging retail market and underperformance of its wholesale segment.