Government’s halted Brexit ad campaign cost taxpayers £5m November 27, 2019 Boris Johnson’s ad campaign urging people and businesses to prepare for leaving the EU on 31 October cost taxpayers almost £5m in just a month. The government unveiled a £100m “Get Ready for Brexit” campaign at the end of August, promising an advertising blitz across billboards, TV and radio, as well as a revamped website. [...]
Ted Baker reveals £25m accounting error actually cost it £58m January 22, 2020 Ted Baker’s torrid time continued this morning after the designer brand said that it had overstated the value of its inventory by £58m. Last month the luxury clothing firm said that it had appointed magic circle law firm Freshfields to investigate the issue, which it expected to cost £25m. Big four auditor Deloitte has now [...]
Eddie Stobart shareholders face steep losses in potential rescue November 12, 2019 Shareholders in logistics firm Eddie Stobart face a steep cut in the value of their investment as part of a proposed financing deal. A proposed offer from former controlling shareholder Dbay Advisors would be at a huge discount to the price at which its shares were suspended in August, Sky News reported. Citing sources, the [...]
City groups join forces for new mental health care commitments October 21, 2019 City businesses are joining forces with charities today in an effort to promote mental health care in the work place. Leading business and non-governmental figures have signed up to the Mental Health at Work Commitment, a set of standards for the industry which launched this morning. Read more: Accountancy sector lagging behind business on diversity, [...]
Hostelworld shares fall as it warns of £3.5m coronavirus blow March 4, 2020 Hostelworld warned the coronavirus outbreak has hurt 2020 bookings today as the virus ravages the travel sector, after slashing its 2019 dividend to invest in expansion. The Covid-19 outbreak prompted Hostelworld to warn it will take a €3m (£2.6m) to €4m (£3.5m) hit to earnings before interest, tax, depreciation and amortisation (Ebitda) in the first [...]
Shaun Bailey: What will London look like when we leave the EU? January 30, 2020 We are leaving the EU tomorrow and, despite the mixed feelings surrounding this new chapter, there is much to be cheerful about. Business leaders are already expressing a newly-restored confidence in London. A raft of new information — such as the latest Deloitte CFO optimism survey, key PMI figures, household and consumer confidence data — [...]
City Moves for 22 July – Who’s switching jobs at Kin + Carta, Liontrust and Public Sector Plc? July 22, 2019 Today’s City Moves includes Kin + Carta, Liontrust and Public Sector Plc. Kin + Carta Kin + Carta, the international digital transformation business, has announced that following a global recruitment process, it has appointed John Kerr as non-executive chairman designate. John will become chairman at the company’s annual general meeting in November, succeeding Richard Stillwell, [...]
UK fashion brand Karen Millen hoists for sale sign June 27, 2019 British fashion brand Karen Millen is set to be sold by its Icelandic owners. Sky News reported that advisers to Kaupthing, one of the Icelandic banks that collapsed during the financial crisis, are set to begin formal talks with potential bidders for Karen Millen in the next few days. The sale process is being led [...]
KPMG to slash partner bonuses by up to 40 per cent November 24, 2019 Partners at KPMG are facing steep cuts to their bonuses as the accounting giant cuts costs in a bid to prepare for tighter regulation of its audit work. Partners’ bonuses – which can reach hundreds of thousands of pounds – are set to fall by as much as 40 per cent this year, according to [...]
KPMG in exclusive talks to sell pensions arm to private equity firm for more than £200m October 23, 2019 KPMG today confirmed it is in exclusive talks to sell its pensions advisory arm to private equity firm Exponent. The Big Four firm is in discussions to sell its pensions unit to the former Quorn-owner for more than £200m, Sky News reported. Read more: KPMG launches £100m cost-cutting programme The division has more than 20 [...]