Meet the Edmond de Rothschild asset manager who launched a UK-focused fund just before the referendum (and doesn’t regret it) November 27, 2016 With the European Union referendum just two months away, April 2016 may have seemed like a bold time for a European asset manager to launch a new fund focusing exclusively on the UK – even if it looked like we were headed for a Remain vote. Shares in companies such as ITV, BT, and Marks [...]
Marks & Spencer loses another senior executive as Laura Wade-Gery steps down September 12, 2016 Marks & Spencer has confirmed the woman who oversaw the launch of its website is stepping down. In a statement today the retailer said Laura Wade-Gery, its executive director of multi-channel, will not return from maternity leave. Wade-Gery, who oversaw the rocky launch of M&S' website last year, will step down from the board immediately, and [...]
Oil prices shoot up as Opec agrees its first production cut since 2008 November 30, 2016 Investors piled into oil futures and related stocks yesterday evening after Opec defied expectations and revealed a deal to cut production by 1.2m barrels a day. Brent and West Texas Intermediate (WTI) crude prices soared as the Saudi Arabia-led cartel announced its first agreement since 2008. The Organisation of the Petroleum Exporting Countries will reduce [...]
Pay row: M&S accused of threatening to sack staff who reject new contracts July 12, 2016 Marks & Spencer has become embroiled in a dispute over staff pay as it grapples with a sales slide in its clothing division. Chief executive Steve Rowe told shareholders at yesterday's AGM that the retailer faces "tough decisions" in the coming months. M&S is consulting staff over the axing of premium pay on Sundays, and cuts [...]
Rosé wine: Move over red, white and sparkling – this summer belonged to pink booze September 13, 2016 Sparkling wine has been stealing the show in the UK's drinks scene as the new high-flier, but rosé wine has been the true winner of this summer's heatwave as sales of the pink stuff doubled. Marks and Spencer has reported a 100 per cent increase in its sales of English-produced rosé offerings, with its Chapel Down [...]
Marks & Spencer set to axe 500 jobs at head office in London September 3, 2016 Marks & Spencer is set to axe around 500 jobs at its head office in London. The cull of around 15 per cent of roles is expected to be announced next Thursday. Sky News first reported that more than half of the cuts will affect contractors. Read more: M&S pay row: New offer for workers – [...]
Why is good behaviour in business such a radical idea? October 19, 2016 One of the most significant passages of Theresa May’s wide-ranging speech at the Conservative Party conference earlier this month criticised selfish bosses, rigged markets and dysfunctional businesses. Calling for a new spirit of citizenship, the Prime Minister highlighted a rogues’ gallery of those companies who refused to play by the rules, infuriated their customers and [...]
Charity Day lures celebs including Lindsay Lohan, Davina McCall, Mayor of London Sadiq Khan and Joanna Lumley to BGC Partners’ trading floor September 12, 2016 BGC Partners’ trading floor was overrun by comedians, Olympians, film stars and London’s mayor yesterday at the brokerage’s annual charity fundraising day. The gaggle of celebs roaming BGC’s labyrinth of computer screens and phone speakers to clinch the cash for this year’s charities included actor Tom Hardy, garden-bridge pusher Joanna Lumley, supermodel Jodie Kidd, TV [...]
Petition to block M&S’ pay cut plans draws over 20,000 signatures in three days July 29, 2016 Pressure is mounting on M&S' chief executive Steve Rowe to cancel a pay cut for his staff as an online petition to block the plan has received nearly 20,000 signatures in three days. The company is consulting its staff over cutting premium pay on Sundays, and cuts to pay for bank holidays and employees working at anti-social hours, which could [...]
Marks & Spencer looks to solve legal wrangle with former landlord BNP Paribas December 1, 2015 It’s not just individuals that quibble with their landlords. Marks & Spencer (M&S) is tomorrow hoping to settle a long-running dispute with former landlord BNP Paribas over rent it claims to have overpaid on its old Paddington offices. In July 2011, the high street retailer exercised a break in its leases and served notice on four floors of [...]