Trivago’s boss on how the travel group finds the hotel that fits you perfectly February 13, 2017 While Trivago was meeting American investors ahead of its December listing on the Nasdaq stock exchange, chief executive Rolf Schroemgens realised many of the people he met had a very limited understanding of the company. Despite a boost to the hotel search engine’s profile in 2013 when American travel giant Expedia snapped up 63.5 per cent of the company [...]
After BHS: MPs eye stricter transparency rules for private companies February 12, 2017 The UK's biggest private companies and those with large pension schemes should have to abide by the same financial reporting rules as listed firms to ensure the fallout from the collapse of BHS is not repeated, MPs have said. Any private company with more than 5,000 members of a defined benefit pension scheme, or those defined as large [...]
Insolvency Service ramps up investigation into collapse of BHS February 9, 2017 The Insolvency Service has ramped up its investigation into the collapse of BHS, and has told MPs that if it decides to take action against the company's former directors, it will do so before April 2019. BHS fell into administration in April last year after retail tycoon Sir Philip Green sold the store to serial [...]
City Moves for 7 February 2017 – who’s switching jobs? February 7, 2017 Today's City Moves cover cyber security, energy and tax. Take a look at these movers and shakers: PwC PwC has hired Kate Macmillan as a director in its rapidly expanding cyber security and data privacy legal team in London. Kate joins from Collyer Bristow with 20 years’ experience in data protection and privacy litigation, specialising [...]
Number of firms in financial stress grows for thirteenth quarter in a row January 30, 2017 Over 275,000 companies were showing sings of financial distress at the end of 2016, the thirteenth quarter in a row that business stress in the UK has risen. The figures from insolvency firm Begbies Traynor show that the number of companies battling 'significant' financial distress grew three per cent year-on-year in the final quarter of 2016. Read [...]
A group of 111 former BHS staff are suing administrators over redundancy procedures January 29, 2017 Over 100 former BHS employees have launched a claim against the retailer's administrators over their alleged failure to consult staff before they were made redundant. Lancashire-based JWK Solicitors are representing the 111 staff that worked at BHS' headquarters in London. They allege administrators did not consult staff for at least 45 days before making them redundant. Due in April, [...]
City Moves for 24 January 2017 – who’s switching jobs? January 24, 2017 Today's City Moves cover online businesses, the legal sector and property development. While Mark Whitburn has joined peer-to-peer lender Saving Stream as its new head of credit, former KPMG partner Jane Moriarty has joined Chelsea-focused London property group Martin's Properties as a non-executive director. Take a look at these movers and shakers: Saving Stream Mark [...]
Original Travel’s chief executive reveals how its services stand out in a sea of travel companies January 23, 2017 Parents have 40 opportunities to go on a holiday with their children before they outgrow family outings according to travel company chief executive Nick Newbury. He points out that there’s only so much time in a year, and so much holiday leave in a job. As well as time constraints, pressure is mounting on consumers [...]
Not so sunny: Low demand pushed profits down for Caribbean travel group Elegant Hotels January 17, 2017 Elegant Hotels faced a tough year as profits fell during 2016 due to the weak pound and lower demand for luxury accommodation. The figures The Caribbean travel group, which owns six upscale hotels and a beachfront restaurant on Barbados, said revenue was down 5.2 per cent in 2016, at $57m (£46.3m). Adjusted pre-tax profit for year to [...]
Soma Oil & Gas probe set fraud squad back almost £60k, after investigation was dropped late last year January 15, 2017 The fraud squad’s investigation into Soma Oil & Gas set it back almost £60,000, City A.M. has learned. Answering a Freedom of Information request, the Serious Fraud Office (SFO) revealed it spent £59,912 on its investigation into the oil company, which opened in July 2015, following allegations of bribery and corruption. The figure does not [...]