City Moves for 21 May – Who’s switching jobs at Cazoo, Invesco and Headland? May 21, 2019 Today's City Moves includes Cazoo, Invesco and Headland. Cazoo Cazoo has announced Alex Gersh, formerly chief financial officer (CFO) of Paddy Power Betfair, has joined as its first CFO. Having raised over £30m late last year, Cazoo is seeking to transform the used car market in the UK. Alex joins Cazoo after spending 6 years [...]
Lloyd’s chair says misconduct cases may emerge as soon as this week May 21, 2019 Lloyd’s chairman Bruce Carnegie-Brown expects two or three cases of serious misconduct at the insurance marketplace to emerge as soon as this week as his organisation tackles reports of widespread sexual harassment. Read more: Lloyd's of London unveils 'robust plan' following sexual harassment claims “There are two or three quite big live issues out there [...]
How a relationship break-up spurred this founder to build ‘Ebay for travel’ to help flog unwanted holidays May 20, 2019 When you think of unwanted items, holidays don’t tend to spring to mind. But according to Simon Powell, founder of TransferTravel, billions of dollars are wasted globally on unwanted travel every year, while an estimated 220,000 hotel rooms are paid for and never used every day in the US alone, wasting $8.6bn annually. And with [...]
Exxon decision to evacuate staff from Iraq ‘unacceptable and unjustified’ says oil minister May 19, 2019 Iraq’s oil minister has hit out at US oil giant Exxon, demanding it immediately returns workers which it evacuated from the country amid growing regional tensions. Thamer Ghadhban today said that Exxon’s decision was “unacceptable and unjustified” after it was revealed that all its foreign staff at the West Qurna 1 oilfield would be moved [...]
Brexit talks between the Conservatives and Labour set to close without a deal May 17, 2019 Cross-party Brexit discussions between Labour and the Conservatives are set to close without a deal, according to reports. Prime Minister Theresa May and Labour leader Jeremy Corbyn will now move into a second stage of talks, aimed at agreeing a parliamentary process that could be used to reach a consensus. Labour are worried that a [...]
Boris Johnson confirms he will stand in Tory leadership election May 16, 2019 Boris Johnson today confirmed he will stand in a Tory leadership election to replace Theresa May. Read more: Labour hand May a Brexit deal lifeline by refusing to vote down her plan The former foreign secretary told an insurance conference: “Of course I’m going to go for it.” https://twitter.com/huwbbc/status/1129004670184304642 Speaking at the British Insurance Brokers' Association [...]
Cyber security solutions that are only 95 per cent effective are just not good enough anymore May 16, 2019 The cyber security industry is failing businesses. Cyber criminals are constantly evolving and evading the market’s most sophisticated detection-based security solutions, with government figures showing that 32 per cent of UK businesses have faced a cyber attack or data breach in the past year. Most security solutions take a “best endeavour” approach to defending against [...]
KPMG UK introduces new audit structure but falls short of full separation May 16, 2019 Big Four firm KPMG said today it was introducing a new structure to move its audit arm away from the rest of its UK business, but falling short of a full separation. The move follows a report from the Competition and Markets Authority which called for a separation of audit from consulting services after a [...]
Nestle confirms talks to sell £8bn skincare unit to EQT-led consortium May 16, 2019 Nestle is in talks with an EQT-led consortium to sell its skincare arm in a deal valued at SFr 10.2bn (£7.9bn), the companies confirmed today. Representatives of the two groups have entered exclusive negotiations over the future of Nestle Skin Health, which was brought into the Swiss conglomerate in 2014. Read more: Nestle considers selling [...]
Two-thirds of small businesses say government is not on their side, new poll reveals May 16, 2019 Two-thirds of small businesses do not feel the government is on their side, a new survey has revealed in a report calling for a radical shake-up of the tax system. A YouGov poll for the Centre of Policy Studies think-tank shows 62 per cent of small business owners and managers don’t believe those in power [...]