Ryanair ditches travel search engine Momondo after breach of contract November 24, 2016 Ryanair has revoked a licencing agreement with travel search engine Momondo following a breach of contract. The company "urged customers to book directly on the Ryanair.com website". It had previously granted a non-exclusive licence to Momondo to display Ryanair's fares for price comparison purposes, one of a number of travel websites including Hipmunk, Dohop and Skyscanner [...]
Fraud squad eyes end of Tesco investigation November 13, 2016 The fraud squad is expected to announce within weeks what its next steps for Tesco will be, as it wraps up its investigation into the black hole in the retailer's accounts. The Serious Fraud Office (SFO) launched its probe into the supermarket giant's accounting practices in October 2014, and brought charges against three individuals, Carl Rogberg, [...]
Tesco executives to go on trial in September next year October 20, 2016 Three former Tesco executives have appeared in court today on fraud charges and a trial date has been set for September next year. Former finance director for Tesco UK Carl Rogberg, 49, ex-UK managing director Christopher Bush, 50, and ex-commercial director for food John Scouler, 48, have been charged with one count of fraud by abuse [...]
City Moves for 8 December 2016 | Who’s switching jobs December 8, 2016 Quinn Emanuel Urquhart & Sullivan Quinn Emanuel Urquhart & Sullivan has appointed Mark Hastings as a partner based in the firm's London office. He had previously been a partner at Addleshaw Goddard where he was head of the firm's civil fraud group. Mark has been retained to represent clients in a number of the largest cases to [...]
Three former Tesco executives have pleaded not guilty to fraud charges September 22, 2016 Three former Tesco executives today pleaded not guilty at Westminster Magistrates' Court on charges stemming from the fraud squad's probe into accounting issues at the supermarket giant. Former finance director for Tesco UK Carl Rogberg, 49, ex-UK managing director Christopher Bush, 50, and ex-commercial director for food John Scouler, 48, were each charged earlier this month with one [...]
The Financial Conduct Authority has cleared RBS of forcing small firms into financial distress – but has pointed to failures in conduct November 8, 2016 It looks like RBS bosses have got what they hoped for. An investigation by the Financial Conduct Authority (FCA) has cleared Royal Bank of Scotland (RBS) of some of the most serious allegations against it – but has pointed to failures in conduct. RBS has been accused for forcing small and medium-sized firms into its [...]
McLaren’s legendary boss has been ousted – but says he’ll launch a technology investment fund next year November 15, 2016 Legendary McLaren boss Ron Dennis said today he has been "required to relinquish his duties" as chairman and chief executive after pressure from shareholders. Last week it was reported that Dennis had backed a £1.65bn takeover bid for the Formula One team and the technology arms of McLaren. However, shareholders TAG and Mumtalakat weren't impressed, [...]
City Moves for 17 November 2016 | Who’s switching jobs November 17, 2016 CBRE CBRE, the world's leading real estate adviser, has appointed Lorraine Hughes as a senior director in the UK planning team, based in London. Lorraine joins the firm from Turley. Lorraine specialises in providing commercial planning advice on large and complex central London projects. She has extensive experience advising both private and public sector clients [...]
How to break into hard-to-access funds October 18, 2016 Now more than ever, portfolio diversification is critical. Recent market upheaval following the Brexit vote has begged the question: how diverse should a portfolio be? What should this look like in practice? And given that funds tend to be the most straightforward way for individuals to invest, what alternatives are there to mainstream quoted equity [...]
Theresa May’s government is failing to treat small businesses as partners October 24, 2016 Small businesses wait an average of 72 days to be paid, while a staggering £26 billion is owed in the private sector according to The Asset Based Finance Association and BACS respectively. And with cash flow being the main cause of business failure, it makes perfect sense for the British government to get serious about [...]