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 [...]
Boris Johnson’s leadership campaign receives £50,000 from CMC chief Cruddas June 7, 2019 Tory leadership candidate Boris Johnson has received a £50,000 donation to his campaign from CMC markets chief executive Peter Cruddas. Cruddas is one of the City’s leading figures and is the founder of the financial spread-betting firm CMC. Read more: Boris Johnson wins legal challenge against court summons He wrote the cheque for Johnson’s campaign [...]
Without action, a crisis over pensions looms June 6, 2019 The row over pensions for women born in the 1950s stepped up a gear this week when campaigners headed to the High Court for a judicial review. Women used to retire at 60, five years earlier than men. In 1995, a timetable was drawn up to equalise this, phasing in the increase. However, the changes [...]
Intu set to vote against Arcadia CVA as Philip Green’s empire hangs by a thread June 5, 2019 Fresh doubts over whether Sir Philip Green’s fashion group can win a crunch restructuring vote today have emerged, as one of Britain’s largest retail landlords looks set to vote against the firm’s controversial insolvency plans. Intu, a FTSE shopping centre owner, is expected to vote against the proposals for Green’s company voluntary arrangement (CVA), according [...]
HSBC to hire Morgan Stanley after cutting broking ties with Goldman Sachs June 4, 2019 Banking giant HSBC is set to hire Morgan Stanley as joint corporate brokers to replace rivals Goldman Sachs. Europe’s largest lender has cut ties with Goldman Sachs in favour of rival US investment bank Morgan Stanley following a review by new chief financial officer Ewen Stevenson, Sky News reported. Goldman Sachs steered Europe’s largest lender [...]