Boris Johnson says ‘long way to go’ in Tory leadership race after first round victory June 13, 2019 Boris Johnson has a commanding lead in the Tory leadership election after the first round of voting with backing from 114 Mps. Johnson’s 114 votes puts him past the 105 votes needed to reach the final round. He tweeted: “Thank you to my friends and colleagues in the Conservative & Unionist Party for your support. [...]
Activist investor Elliott launches audacious bid for Majestic Wine stores June 12, 2019 Activist investor Elliot has launched a bid for 200 Majestic Wine stores as the retailer switches its focus from the high street to online. US-based Elliot has pitted itself against private equity firm OpCapita and Fortress, the investment group owned by Japan’s SoftBank, in the sale, in which Majestic is hoping to recoup £100m. Read [...]
Sky puts Netflix in its sights as it doubles investment after Chernobyl success June 12, 2019 Sky has unveiled plans to double its investment in original programming as it looks to build on the success of hit show Chernobyl and take on streaming services such as Netflix. The company said it has secured backing from new owner Comcast to launch Sky Studios, a new Europe-wide development and production division. Read more: [...]
Company Voluntary Anxiety: Retailers’ favoured rescue tool under fire June 12, 2019 SIR PHILIP Green’s fashion group Arcadia and department store chain Debenhams face renewed opposition to their restructuring efforts as the role of a controversial rescue mechanism comes under growing pressure. The future of Green’s retail empire hangs in the balance after it emerged yesterday that shopping centre owner Intu plans to vote against the firm’s company [...]
Sports Direct launches legal challenge to Debenhams restructuring plan June 11, 2019 Retail tycoon Mike Ashley has launched an audacious legal challenge to stall the turnaround plan at Debenhams, reigniting a bitter feud for control of the high street retailer. The embattled department store chain confirmed today that it has received challenges to its company voluntary arrangements (CVA) from parties including Sports Direct, the budget sportswear retailer [...]
Sainsbury’s chooses ex-RBS man Brown to head banking unit June 11, 2019 Sainsbury’s has appointed a new chief executive to lead its baking unit as it looks to build its online presence. Former RBS man Jim Brown will take over the reins at Sainsbury’s Bank from next Wednesday. The bank handles Sainsbury’s Bank customers, as well as Argos Financial Services and Nectar. Brown will have a “short” [...]
Hotel Review: The Cary Arms & Spa in Torquay is a highlight of the Devon coastline June 10, 2019 Whatever they paid the marketing wizard who rebranded Torbay as the ‘English Riviera’ – where the Cary Arms & Spa resides – it wasn’t nearly enough. The name evokes images of sun-beaten beaches lined with palm trees swaying in the hot afternoon sun. Of ice creams melting down sticky hands, thick paperbacks with broken spines [...]
Indian fans make themselves at home in The Oval amid thumping win over Australia June 9, 2019 There was a fun game to be played at the Cricket Wold Cup match at The Oval today: spot the Australian. Canary yellow shirts were an endangered species inside the stadium, bright dots amid a sea of raucous, passionate, pulsating Indian blue. Even when you thought you’d located a group of Aussie supporters there was [...]
Fosun lines up bid for Thomas Cook tour operating business June 8, 2019 Thomas Cook’s biggest shareholder, Fosun Tourism Group, is in talks to take over the struggling firm’s tour operating business. The Chinese owner of Club Med owns 18 per cent of Thomas Cook already, and is now in talks to make a bid for the majority of its business, according to Sky News. Read more: IAG [...]
Fund spotlight: UK Buffettology Fund June 7, 2019 by Dzmitry Lipski from interactive investor. interactive investor’s analysts give an update and view on the UK Buffettology Fund. Warren Buffett’s recipe for success looks simple but few have successfully managed to replicate it. His well-known ‘Business Perspective Investing’ principles are hard to follow consistently and require patience, discipline and an ability to look at an investment like you [...]