Regulator investigates ‘shape-shifting’ firms who shirk duties on employee pensions July 17, 2019 The Pensions Regulator said today it will hunt down companies that change their names to dodge workplace pension obligations. Several small and medium-sized employers have tried to employ “shape-shifting” tactics to avoid paying their staff’s pensions, it said. Those breaching their auto-enrolment duties could be subject to “short-notice inspections”. Read more: Prudential UK property fund delays [...]
How CEO Christian Sewing can save Deutsche Bank July 16, 2019 Pity Christian Sewing. The chief executive of German banking giant Deutsche Bank is not having a good time. What started with a tough but brave call to close his equities business has turned into a low point in the company’s history. There is the potential investigation into its entanglement with the scandal concerning the insolvent [...]
It’s not just cricket – finance and friendship underpin Britain’s bond with India July 16, 2019 The deep love of cricket that the UK and India share was clearly on show last week. But our relationship goes much further than just a passion for sport. It is a family affair, with parents and children, brothers and sisters living, working and moving between our two great nations. It is no surprise then [...]
Thomas Cook: How did it end up like this? July 12, 2019 Companies in the travel industry have endured a turbulent year – and none more than Thomas Cook. Read more: Thomas Cook shares plunge to record low as investors face being wiped out The embattled firm this morning said it is closing in on a bailout deal which would see Chinese firm Fosun give it £750m [...]
Begbies Traynor revenues pass £60m for first time as insolvencies rise July 9, 2019 Begbies Traynor shares rose three per cent this morning as it announced revenues passed the £60m milestone for the first time last year. The corporate restructuring specialist enjoyed rising pre-tax profit, amid a year in which it made four acquisitions. The firm benefited from an increase in insolvencies across the UK. Read more: UK company [...]
Sports Direct set for Game Digital takeover after securing shareholder backing July 9, 2019 Sports Direct said today that it has wrapped up enough support for its takeover offer of Game Digital, paving the way for Mike Ashley’s latest high street acquisition. The retailer has said its offer for Game Digital is now unconditional, as its own 38.5 per cent stake and backing from other shareholders takes its support [...]
Debenhams urges Sports Direct to drop legal action over restructuring plan July 8, 2019 Debenhams has urged Mike Ashley’s Sports Direct to drop its lawsuit over the department store chain’s controversial insolvency plan after a key landlord withdrew its legal action. Sports Direct has filed a complaint against the company voluntary arrangement (CVA), which will allow Debenhams to close some 50 stores in a bid to stay afloat. Read [...]
JPI Media in talks to sell i newspaper and regional titles July 8, 2019 The hedge fund owners of the i newspaper and hundreds of regional titles are reportedly in talks to break up the publishing group and sell its assets. JPI Media, the company formed last year to buy out Johnston Press, has set a deadline of Monday for preliminary offers for papers including The Scotsman and The [...]
It shouldn’t take someone like Philip Green to reform corporate governance July 5, 2019 No one has done more for corporate governance in the UK than Sir Philip Green. The man formerly known as “the King of the High Street” may not be a beacon of business stewardship, but hear me out. Over recent years, a number of significant developments to the UK’s renowned corporate governance system have come [...]
Pensions Regulator boss to face questions from MPs over Arcadia deal June 23, 2019 The boss of the Pensions Regulator (TPR) is set to face a grilling from an influential committee of MPs later this week over the watchdog’s deal with Sir Philip Green to help save his fashion empire from collapse. Charles Counsell, the chief executive of TPR, is to appear before politicians just weeks after Green agreed [...]