McCarthy & Stone CEO stepping down amid profit warning
Retirement housebuilder McCarthy & Stone CEO announced he is walking away from the company this year, as the company’s shares fell after it issued a profit warning. Declining reservation rates have lead to a revised profit forecast of between £65 million and £85 million, a drop from the £96 million recorded last year and the […]
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Energy regulator tightening checks on new companies
Energy watchdog Ofgem is planning changes that will make it tougher for smaller companies to enter the market. The regulator cites issues for consumers in a review into their licensing procedures, identifying that smaller companies bring a lack of financial stability, and risk providing poor customer service and unsustainable business models, leading to some customers […]
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Ryanair set to open new base at Southend Airport
Budget airline Ryanair have announced plans to launch a brand new base at London Southend Airport in Essex. The £225m base, which will open in April 2019, will feature three new aircraft and add almost 60 flights per week. The destinations feature eight countries and 13 cities altogether, including Barcelona, Venice, Malaga and Dublin. “We […]
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Capita and FDM facing heat over training schemes
Two of the UK’s major outsourcing companies are facing legal action and may be forced to answer to parliament over controversial unpaid training schemes. The schemes, employed by Capita and FDM, are described by lawyer Jolyon Maugham as “indentured servitude”. They require job-seeking graduates to undergo up to four months of training before they can […]
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Tesco hits new highs following Booker acquisition
Supermarket giant Tesco achieved their 10th straight quarter of growth, the strongest growth seen by the company in seven years. The numbers for the three months to 26 May showed 3.5 percent growth for the company’s UK and Ireland sales, and 1.8 percent growth for group sales, which extend to Asia and Eastern Europe. The […]
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Theranos founder Elizabeth Holmes facing fraud charges
US officials have laid formal charges of fraud against the leadership of Silicon Valley startup Theranos. Company founder Elizabeth Holmes, along with former COO and president Ramesh Balwani, appeared before a court in San Jose Friday. The two were charged with nine counts of wire fraud, and two counts of conspiracy to commit wire fraud. […]
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Stobart Group dismisses former chief Andrew Tinkler from board
Tensions between Stobart Group and executive director Andrew Tinkley are heating up, as the former chief executive has been officially dismissed from the board of directors. Stobart, owner of London Southend Airport, is also launching legal action against Tinkley, under claims he has been attempting to destabilise the company. “The Company announces that, following the […]
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Dixons Carphone under investigation after data breach
5.9 million Dixons Carphone customers have had their payment cards breached, and a further 1.2 million personal data records accessed in almost a year-long attack. The electronics retailer revealed that hackers had gained access to the Currys PC World and Dixon Travel systems beginning last July, and the breach had only been patched recently. Of […]
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RAC calls out retailers for unreasonably high petrol prices
Retailers are facing heat for the price of petrol, which sit at their highest point since 2014, despite falling wholesale rates. Current average prices have unleaded at £1.29 per litre, and diesel at £1.33. The prices have risen every day since late March. The RAC called for retailers to stop the price rises. Company spokesperson […]
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Harvey Nichols and Hero partner for new online shopping experience
Luxury department store Harvey Nichols has taken a step towards the future of retail shopping, partnering with tech startup Hero to offer a “live shopping” experience for their online customers. The innovative new technology allows customers to be connected with Harvey Nichols’ product experts and stylists in real time, while they shop on the store’s […]
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