Former Barclays bosses face trial over financial crisis-era deals with Qatar January 6, 2019 Four of Barclays' most senior bankers will appear in court tomorrow on charges relating to a rescue package the bank secured from Qatar at the height of the financial crisis. Former Barclays chief executive John Varley will stand trial alongside former senior executives Roger Jenkins, Tom Kalaris and Richard Boath over funding from Qatari investors that allowed the [...]
Big Four supermarkets stall amid fast rise of Aldi and Lidl May 29, 2019 The UK’s Big Four supermarkets all failed to post a rise in sales during the last quarter as they battled it out with the German discounters to keep their market share in an increasingly competitive landscape. While Tesco’s overall sales were flat in the 12 weeks to 19 May, its performance trumped the likes of [...]
O2 will launch 5G network in London and five other cities in October 2019 July 25, 2019 O2 has revealed it will switch on its 5G network from October, aiming to go live in 20 towns and cities by the end of the year, including London, Leeds, Edinburgh and Cardiff. Belfast and Slough will also get 5G first in O2’s first wave of launches, as it races to bring that number to [...]
Mobile operator Three defies Ofcom’s call for ‘fairer’ phone bills July 22, 2019 Mobile operator Three has clashed with regulator Ofcom over proposals to create fairer bills for customers after their initial contract period has ended. Ofcom today unveiled a string of new rules and said five major providers have pledged to cut bills for millions of customers. Read more: New rules could give fraudsters a back door [...]
PwC, Tesco, JP Morgan, British Science Association, NatWest, women in tech March 8, 2018 PwC is launching a new initiative today called Tech She Can, to get more women into technology-related jobs. The company is collaborating with 17 other corporations — ranging from Tesco to JP Morgan — to tear down barriers for women entering technology by creating what they dubbed a “tech talent pipeline”. Sheridan Ash, the PwC [...]
Ranked: The UK’s fastest growing companies for brand value September 11, 2019 Deliveroo, Costa Coffee and Brewdog are growing in value faster than any other UK brands, according to a survey published today. The food delivery app topped the list, increasing its value 54 per cent to $1.4bn (£1.1bn), while coffee chain Costa jumped 48 per cent to $1.5bn, boosted by its takeover by Coca Cola. Read [...]
City Moves for 8 March 2019 – Who’s switching jobs at McCarthy Denning, Fox Williams and MSCI? March 8, 2019 Today's City Moves include McCarthy Denning, Fox Williams and MSCI. McCarthy Denning McCarthy Denning is pleased to announce that Sheikh Bilal Khan has joined the firm as a partner and global head of Islamic finance. Sheikh Bilal Khan is dual-qualified in English and Shariah Law, and has won numerous accolades for his work. He belongs [...]
Ocado bags sales jump amid decline in supermarket sector July 23, 2019 Ocado has posted a double-digit rise in sales over the last quarter as it defied an overall decline in the supermarket sector. The online retailer boosted its sales by 11.9 per cent in the 12 weeks to 14 July, stealing a larger chunk of the competitive grocery market. Read more: Sainsbury’s sales slip in ‘tough’ [...]
Dormant assets scheme could be expanded following government report April 4, 2019 A scheme to reallocate dormant assets to charitable causes could be extended to the investment and wealth management sector following the publication of a government report. An independent report commissioned by the government found that extending the scheme to other financial services, also including the insurance and pensions sector, could "significantly expand the money available to good [...]
Done deal: Tesco completes £3.7bn acquisition of Booker Group | City A.M. March 5, 2018 Tesco today completed its acquisition of Booker Group, creating the leading food group in the UK. The £3.7bn deal was given court approval on Friday after shareholders voted it through last week. Booker Group’s shares have been de-listed from the London Stock Exchange. Each share has been exchanged for 42.5p in cash, and 0.861 new [...]