Debenhams shares fall into the red as investors eye deadline for Sports Direct offer April 8, 2019 Debenhams shares dipped five per cent in early afternoon trading today, falling from a 15 per cent rise this morning as the deadline for a pre-pack administration draws near. The embattled department store chain is set to hand ownership to lenders tomorrow if Sports Direct fails to reach an agreement with the retailer by the end [...]
Let’s not let rage become the prevailing story of our nation April 8, 2019 Public morality, but private depravity – a time when keeping up appearances on the outside was very much the order of the day. You have to wonder if Brexit has turned this Victorian attitude decisively on its head. No one watching the daily media scrum on College Green could argue that today’s national conversation is [...]
Sports Direct makes £150m offer to underwrite Debenhams in bid to make Ashley CEO April 7, 2019 A bitter and hard-fought battle for control of one of Britain’s oldest department store chains descended into farce last night as Mike Ashley tussled with Debenhams to prevent the retailer from entering into a pre-pack administration. In his latest efforts to ramp up pressure on the chain’s board, the Sports Direct owner last night accused [...]
Murdoch waits for verdict on The Times and The Sunday Times merger April 7, 2019 Media mogul Rupert Murdoch will this week receive the government’s verdict on a planned merger of The Times and The Sunday Times. Earlier this year News UK, which controls the two newspapers, filed an application to the Department for Digital, Culture, Media and Sport (DCMS) to overturn a law that forces the group to keep [...]
Labour “disappointed” with Tory Brexit talk progress as EU consider “flexible extension” April 6, 2019 Labour has criticised the government for not being open to change during discussions to end the Brexit stalemate. The opposition has been engaged with the Conservative Party to discuss alternatives to the current deal after it was heavily defeated in Parliament on three separate occasions. Read more: Goldman Sachs cuts the probability of a no-deal Brexit [...]
Millions set for pay rise as tax thresholds and minimum wages increase April 6, 2019 More than two million people are set for a pay rise as the national living wage and minimum wage thresholds increase, the Treasury has claimed. The national living wage is increasing from £7.83 to £8.21, which equates to around £690 per year and will affect 1.8m people. Read more: Osborne tax breaks for multinational firms [...]
Sir Philip Green’s Arcadia Group risks pension row with £25m funding cut proposal April 5, 2019 Sir Philip Green's Arcadia Group has proposed cutting the £50m it pays into its pension scheme in half in a move that risks igniting a new pensions row. Arcadia, which owns high street retail brands like Topshop, has internally discussed plans with advisers to cut retirement contributions to £25m as it looks to restructure its [...]
Southampton v Liverpool: Red rock Virgil van Dijk returns to his former club the finished article April 4, 2019 When Virgil’ van Dijk returns to St Mary’s Stadium tomorrow evening he will be braced for a frosty reception. The Dutch defender left Southampton for Liverpool in January 2018 under a cloud after a drawn-out and bitter tug of war created friction between the two clubs and alienated Saints fans. The world record fee for a [...]
HSBC Global Asset Management hunts for new chief executive April 4, 2019 HSBC is searching for a new chief executive for the bank’s $444bn asset management arm as it attempts to turn the division into an industry leader. The bank has appointed headhunters to search for a replacement for current HSBC Global Asset Management chief executive Sridhar Chandrasekharan, Sky News reported. Read more: HSBC boss John Flint [...]
Intu Properties to appoint finance chief Matthew Roberts as new boss April 3, 2019 Shopping centre owner Intu Properties plans to appoint its finance boss as its new chief executive during a challenging time for the retail sector. Intu, which owns the Trafford Centre in Manchester, is expected to announce that current chief financial officer Matthew Roberts is its new chief executive as early as tomorrow, Sky News reported. [...]