So Moneysupermarket: Price comparison site grows profits as chairman steps down February 14, 2019 Moneysupermarket’s chairman is set to step down after five years in the hotseat, as the price comparison website grew both profit and revenue in a bumper 2018. Bruce Carnegie-Brown will also step down from his non-executive director position at the company’s annual general meeting in May after serving as chairman since 2014. Read more: Ofgem [...]
Coca-Cola bottler core profits fizz February 14, 2019 A soft drinks bottler led the FTSE 100 market fallers this morning after analysts noted that finance costs had offset strong organic growth, which has been boosted by a rise in appetite for sparkling beverages and a return to growth in its key Russian market. The figures Coca-Cola HBC AG said this morning that profits before [...]
DEBATE: Is Valentine’s Day just a commercial gimmick? February 14, 2019 Is Valentine’s Day just a commercial gimmick? Beatrice Timpson, a political communications consultant, says YES. Frankly, if he turns up on Valentine’s Day without a Cards Galore “Be mine forever” teddy, a bunch of garage-forecourt-fresh coronations, and a candle reeking of potpourri, ditch him. He’s clearly not serious. He’ll run off with Audrey the au pair before [...]
The Restaurant Group shares fall as chief executive Andy McCue prepares to step down February 14, 2019 The Restaurant Group (TRG) led the market fallers this morning after chief executive Andy McCue surprised the City by announcing plans to resign "due to extenuating personal circumstances". TRG's share price plunged almost 15 per cent in morning trading following a statement today from McCue, who is set to remain in his position until a new boss is [...]
MPs call for Sir Philip Green to be stripped of his knighthood February 13, 2019 Sir Philip Green faces fresh calls to have his knighthood stripped amid claims he groped a female executive and made a racial slur at an employee. A cross-party group of MPs is exploring ways to strip the Topshop tycoon of the honour and title. Former business minister George Freeman said he would be “formally asking” [...]
Future snaps up Cycling News and Procycling Magazine from Immediate Media February 13, 2019 Publishing firm Future has bought two specialist cycling titles from rival Immediate Media in a bid to cash in on the UK's cycling craze and bolster its special interest offering. The media firm today said it has acquired Procycling Magazine and Cyclingnews.com, the world’s largest cycling website, for an undisclosed amount. Read more: Vogue publisher [...]
Eat’s owners Horizon Capital mull sale amid strain on high street food outlets February 13, 2019 The owners of sandwich chain Eat are planning to sell the business as it battles with growing competition in the crowded high street food market. Private equity firm Horizon Capital, which owns a major stake in the company, has appointed corporate advisory firm Spayne Lindsay to oversee a potential sale. Read more: EU competition watchdog [...]
Caffeine kick: Whitbread announces £2bn share buyback after £4bn Costa Coffee sale February 13, 2019 Whitbread is planning to give shareholders well over half of the money it made from selling high street coffee chain Costa for £4bn late last year. The Premier Inn owner promised an extra £2bn windfall for shareholders today, a month after concluding the megadeal with Coca-Cola. Read more: Whitbread warns of stalling profits as it [...]
Play the music: HMV reopens trio of stores as Putman sets sights on further rescues February 13, 2019 A trio of HMV stores earmarked for closure have been reopened this week, with more potential rescues on the horizon amid efforts from new owner Doug Putman to renegotiate rents with high street landlords. One source close to HMV said this afternoon that more stores which are currently shut "are up for grabs", although the current number is unknown. [...]
Intercontinental Hotel Group buys luxury brand Six Senses in $300m deal February 13, 2019 Intercontinental Hotel Group said today it has agreed a $300m (£233m) deal to buy Six Senses Hotels Resorts Spas. The Holiday Inn-owner said it had bought the luxury chain from Pegasus Capital Advisors giving it access to properties in locations such as the Seychelles, the Maldives, Thailand, Oman and Portugal. Six Senses manages 16 hotels and resorts, [...]