Monthly Archives: April 2018

Calls for £10bn-plus Sainsbury’s-Asda deal to face competition probe

Pressure is mounting on the competition watchdog to launch an investigation into a potential £10bn-plus tie up between Sainsbury’s and Asda amid fears customers could be left worse off. Sainsbury’s and US retail giant Walmart, which owns Asda, are in […]

Battle for Telecom Italia has all the intrigue of a mafia story

‘He used the composure and delicacy of an Attila,” said Marina Berlusconi, eldest daughter of former Italian prime minister Silvio. Her barb was directed at Vincent Bollore, the French tycoon behind the media giant Vivendi, who has crossed the Alps […]

Mothercare steps up search for rescue with hunt for new backer

High Street struggler Mothercare is seeking outside financing as it races to seal a rescue package by the middle of May. The troubled chain has been working with investment bank Rothschild to explore alternative financing options beyond its current lenders, […]

TSB faces growing criticism of ‘rushed’ bungled IT upgrade

TSB is facing mounting criticism for rushing through a full-scale IT system switch of 1.3 billion customer records in one go, leading to a meltdown and more than a week of outages to vital banking systems. The challenger bank opted […]

Deal to bail out Original Factory Shop will shut stores

The backers of one of the country’s largest bargain chains are stitching together a rescue package that will see it receive a one-off cash injection and ditch a chunk of its portfolio of stores. The Original Factory Shop wants to […]

City braces for wave of investor rebellions over pay

A fresh wave of pay revolts is set to hit the City in the coming weeks as the annual general meeting season begins. At least three shareholders are

Barclays braced for AGM showdown with activist investor Bramson

Barclays is preparing for a potential showdown with notorious New York-based corporate raider Ed Bramson at its annual general meeting in London on Tuesday. Speculation is rife that Mr Bramson will turn up to the event at the QEII Conference […]

City firms curb wining and dining with cap on client lunch budgets

Big financial institutions including Blackstone and Jupiter Asset Management have set strict caps on client lunches in the latest sign that the days of the City’s famously lavish wining and dining could be coming to an end. The tradition of […]

Pharma companies seek new UK offices in a sign that Brexit is not deterring investment

Three major pharmaceutical companies are searching for new UK offices, quelling fears that the country’s exit from the European Union will force businesses to relocate elsewhere, limiting future research and development in Britain. Swiss company Novartis is hunting for a […]

Sainsbury’s in ‘advanced’ discussions over £10bn-plus merger with Asda to create supermarket giant

Sainsbury’s is in talks about a £10bn-plus merger with Asda that could force the sale or closure of hundreds of stores across the UK to win the approval of competition regulators. Sainsbury’s confirmed it was in “advanced” discussions with US […]