Britain must do more to scale up tech firms says LoveFilm and Zoopla investor Sherry Coutu November 16, 2014 Britain is great when it comes to helping tech startups, but we lag behind many countries when it comes to scaling-up these companies to reach their full potential, a report will reveal. The Scale-Up report is to be launched today at an event at Bloomberg’s London offices by its author, the investor and entrepreneur [...]
RBS could pay fine worth tens of millions of pounds next week for 2012 IT failures November 16, 2014 Royal Bank of Scotland will this week be asked to fork out an eight-figure fine for its 2012 IT failures, according to reports. It has been expected that the Financial Conduct Authority (FCA) would issue RBS with a fine worth tens of millions of pounds over the bank’s technical failures in June 2012. [...]
Sports Direct kicks back at Ed Miliband for zero-hours contract criticism November 15, 2014 Sports Direct has dismissed negative comments made by Labour leader Ed Miliband about its employment contracts. Miliband said the use of zero-hours contracts – where the retailer does not have to guarantee regular work to its employees – meant it was a “terrible place to work”, and added that he intends to “ban the [...]
Sainsbury’s Christmas advert, forex fines, Rosetta and the Double Donut Burger: 10 things we learned this week November 14, 2014 1. Sainsbury's has stolen the Christmas ad crown from John Lewis. Maybe. But have either of them done enough to be considered for our Christmas ad hall of fame, which includes a 1950s Coca-Cola number and the 1992 Yellow Pages classic? 2. Bankers' forex rigging was £1.1bn of bad. RBS, HSBC, UBS, JPMorgan and [...]
In pictures: St Modwen and Vinci given the green light for £2bn New Covent Garden regeneration November 14, 2014 Plans to redevelop Britain’s biggest flower and vegetable market in Nine Elms on the South Bank have been given the go-ahead by Wandsworth Council. St Modwen and joint venture partner Vinci were picked in 2012 to redevelop New Covent Garden Market, which moved to Nine Elms from the Covent Garden area near the [...]
Sainsbury’s vs John Lewis Christmas advert 2014 battle: Which is better? November 14, 2014 Sainsbury’s has come out of nowhere to apparently topple John Lewis from its position as annual bearer of Christmas tidings and try to take its festive advertising crown. Traditionally feted for creating the best Christmas ad of the year, the retailer – and viewers – have been blindsided by darkhorse Sainsbury’s which earlier this week [...]
Aggreko share price jumps despite revenue hit by strong pound November 14, 2014 If Aggreko is missing former boss Rupert Soames, it isn't showing it. Shares in the temporary power provider rose more than four per cent in early trading, as the company announced third-quarter figures in line with expectations. Soames, the grandson of Winston Churchill, departed earlier this year to take the helm at embattled outsourcer Serco. [...]
Sainsbury’s and John Lewis unveil 2014 Christmas adverts, but before Monty the penguin there was Ronald McDonald. A short history of the festive ad November 14, 2014 * Christmas comes but once a year, but the advertising that goes around it lasts much, much longer, with some brands seeing fit to launch their festive offerings at the beginning of November. This week saw the unveiling of Sainsbury’s festive offering. The supermarket giant partnered with the Royal British Legion to tell the story [...]
Sainsbury’s share price rises on £400m bond issue November 14, 2014 Sainsbury’s has announced plans to borrow £400m through issuing a five-year convertible bond to increase its cash for refinancing. The supermarket will use the cash to refinance its £248m acquisition of the remaining 50 per cent stake in Sainsbury’s Bank it acquired back in January. The funds will also refinance of £190m convertible bonds it [...]
AA puts former deal king Martin Clarke in the finance hot seat November 13, 2014 Roadside recovery giant AA yesterday appointed an ex-senior private equity dealmaker to take the reins as chief financial officer of the 110-year-old business. Martin Clarke, a former executive at private equity firm Permira, will replace Andy Boland, who stepped down earlier this year as the finance chief of the firm. Clarke was part [...]