Watchdog tells firms to go ‘above and beyond’ law to co-operate in investigations August 6, 2019 The fraud watchdog has told firms they will need to go “above and beyond what the law requires” if they want to co-operate with its investigations. Guidance of corporate co-operation released by the Serious Fraud Office (SFO) states that firms need to be willing to identify any individuals suspected of wrongdoing “regardless of their seniority [...]
What’s gone wrong at Sainsbury’s? Three problems the supermarket must address July 3, 2019 It has been several months now since the Mike Coupe’s dreams of a merger with Asda were dealt a lethal blow from Britain’s competition watchdog, but how much has changed? Directors at the supermarket chain have been setting out a plan to cut costs, slash debt and refurbish 400 stores. Yet investors will likely have [...]
Britvic revenue slumps in challenging market July 24, 2019 Drinks producer Britvic warned this morning that revenue dipped in the third quarter of the year due to a “more challenging” market. The company, which owns brands such as 7up, Tango and Robinsons, said revenue was £360.1m, a decrease of 1.5 per cent on last year. Read more: Britvic installs Tesco finance guru as new [...]
Subway launches first vegan sub after Greggs vegan sausage roll success April 17, 2019 Subway has jumped on board the vegan bandwagon after Greggs' vegan sausage roll proved a runaway success with everyone from flexitarians to – gasp – meat eaters. Read more: 25 weird items people left in their Uber rides The sandwich chain's new vegan sub lands in stores today priced from £3.80, alongside a vegan-friendly salad. [...]
Glass Lewis tells Booker shareholders to vote against Tesco’s £3.7bn takeover February 20, 2018 An investor advisory firm has thrown another obstacle in the path to Tesco’s £3.7bn takeover of Booker, telling Booker shareholders to oppose the deal. Glass Lewis told clients in a note today that it advised rejecting the deal, on the grounds that the bid “clearly lags regional trends” and may fall below Booker’s true value. [...]
Robot delivery service Starship Technologies targets students in $40m raise August 20, 2019 Starship Technologies, a US tech firm headed by former Airbnb exec Lex Bayer, has raised $40m (£33.1m) in a series A funding round. The investment was led by Morpheus Ventures with participation from Shasta Ventures, Matrix Partners, Metaplanet Holdings, TDK Ventures, Qu Ventures and others. Starship’s autonomous robot delivery fleet operates in cities across the [...]
Post Office appoints ex-Nisa boss Nick Read as chief executive July 18, 2019 The Post Office has appointed consumer business veteran Nick Read as its new group chief executive. Read will join the group in September and replace outgoing chief executive Paula Vennells, who earlier this year announced plans to step down after seven years in the job. Read more: Use your local post office or lose it [...]
FTSE 100 climbs as Experian and utility stocks boost index November 12, 2019 The FTSE 100 today bounced back after sinking into the red yesterday, with mainstay utility stocks and Experian and Vodafone’s pushing up the index. London’s blue-chip index climbed by almost a third – 0.29 per cent – to stand 21 points higher at 7,349.9 in early trading. Read more: Vodafone improves 2020 guidance but lowers [...]
Lloyds suspends share buyback as PPI costs rise to £1.8bn September 9, 2019 Lloyds Banking Group has warned its costs relating to mis-sold payment protection insurance (PPI) could hit an additional £1.8bn after a rush of claims before the 29 August deadline. The bank had previously forecast costs of just under £1.1bn, based on a claims rate of 190,000 per week. Read more: Tesco sells mortgage arm to [...]
Airbus agrees to pay record €991m UK fine in €3.6bn global bribery settlement January 31, 2020 A London court today approved a record €991m (£833m) fine for Airbus in exchange for suspending the prosecution of alleged bribery. The deferred prosecution agreement (DPA) was part of a €3.6bn global deal agreed with prosecutors in the UK, US and France. Airbus has agreed to pay France €2.08bn and the US €525m to bring [...]