Former RBS executive John Hourican to return to UK as NewDay CEO March 2, 2019 Former Royal Bank of Scotland (RBS) executive, John Hourican is set to return to UK and join credit card company NewDay as chief executive. NewDay is a consumer finance firm that runs co-branded credit cards with retail giants like Debenhams, Amazon and Sir Philip Green's Arcadia Group. Read more: Revolut outage: Digital bank's customers unable to [...]
Gagging orders face the ban amid allegations against Sir Philip Green March 3, 2019 Leading politicians have vowed today to ban controversial “gagging orders” that have risen to prominence in the wake of recent harassment allegations made against retail tycoon Sir Philip Green. Ministers have revealed sweeping plans this morning to tighten rules around non-disclosure agreements (NDAs), which have been at the centre of bullying claims surrounding the Topshop owner [...]
Top financial PR firm cuts ties with Sir Philip Green amid conduct allegations February 27, 2019 Sir Philip Green’s financial PR firm is set to jump ship tomorrow in the latest corporate blow to the embattled mogul, just days after Baroness Karren Brady quit as chair of his retail empire. City A.M. understands that Green’s communications consultancy Maitland/AMO is ending its relations with the scandal-hit tycoon tomorrow evening amid mounting public [...]
Karren Brady and a lesson on the duties of directors March 13, 2019 Several months after Sir Philip Green became embroiled in a highly publicised scandal, Karren Brady resigned as chair of his retail empire. Despite allegations of harassment and discrimination made by staff against Green, Brady initially intended to remain with Taveta Investments, the holding company of Green’s Arcadia Group. She cited her duty to employees as [...]
Fears over business rates mount as Britain’s major retailers prepare to form action group January 13, 2019 Some of Britain’s biggest retailers are coming together in an urgent bid to seek business rates relief from the government, City A.M. has learned. Around 50 major high street names are joining a mass lobbying effort to curb forthcoming rises in their property tax, as profits plunge in the face of falling sales and online [...]
Not feeling capital: Debenhams faces growing cash reserve woes as credit insurer scraps cover to suppliers September 30, 2018 Embattled department store chain Debenhams suffered a fresh blow today as one of its leading credit insurers turned off the tap for cover provided to the retailer’s suppliers. Insurance provider Atradius is pulling its entire credit cover for Debenhams’ suppliers, amid fears about the future of the historic retail giant in the run-up to Christmas. [...]
Twitter’s #PinkNotGreen boycott of Sir Philip Green’s shops gains momentum as MPs call for knighthood to be questioned October 26, 2018 A boycott of Sir Philip Green’s businesses is gathering momentum online under the hashtag #PinkNotGreen as leading MPs call for the business tycoon to be stripped of his knighthood. The proposed boycott comes after Sir Philip was named in parliament yesterday as the man at the centre of sexual harassment and racial abuse claims, which [...]
Sir Philip Green named in parliament as tycoon at the centre of sexual harassment claims October 25, 2018 Sir Philip Green was named in parliament today as the business leader at the centre of claims of sexual harassment and racial abuse after the media was barred from reporting the allegations. The Topshop billionaire was named in the House of Lords by Peter Hain, the former leader of the House of Commons, under parliamentary privilege. [...]
Boohoo snaps up Primark exec John Lyttle as new chief executive September 17, 2018 Online retailer Boohoo has announced it has snapped up Primark's chief operating officer John Lyttle to be its new chief executive. Lyttle will take on the role from 15 March 2019. Over his eight years at Primark, Lyttle oversaw a turnover growth of 158 per cent to £7bn, and has boosted operating profit by 116 per [...]
Boohoo snaps up Primark exec John Lyttle as new chief executive September 17, 2018 Online retailer Boohoo has announced it has snapped up Primark's chief operating officer John Lyttle to be its new chief executive. Lyttle will take on the role from 15 March 2019. Over his eight years at Primark, Lyttle oversaw a turnover growth of 158 per cent to £7bn, and has boosted operating profit by 116 per [...]