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Debenhams Clashes With Roche Family Over Restructuring

Debenhams, the British retail chain with 11 outlets in Ireland employing 2,200 staff, has become embroiled in a row with the Roche family that once owned Roches Stores, the Irish Times reported. Debenhams bought Roches Stores from the Roche family fo ...

Daily Headline - global.abi.org - 05/27/2016 - 01:45 - 0 comments

‘Brexit’ Could Spell More Austerity for Britain, Study Warns

Prime Minister David Cameron’s campaign to keep Britain in the European Union was bolstered on Wednesday by a report from one of the country’s most authoritative economic research bodies, which concluded that a withdrawal from the bloc would lead to up t ...

Daily Headline - global.abi.org - 05/26/2016 - 00:57 - 0 comments

BHS Collapse: Former Mothercare And Burton Chief Leads Rescue Bid

A former managing director of Mothercare and Burton is leading a bid for BHS backed by a wealthy Portuguese family, which has emerged as the frontrunner to rescue the department store chain. Greg Tufnell, the brother of former England cricketer Phil Tufn ...

Daily Headline - global.abi.org - 05/25/2016 - 00:42 - 0 comments

Clydesdale Bank Hit By £450 Million Of New PPI Charges

The cost of payment protection insurance (PPI) payouts continues to hang over Clydesdale Bank after it announced a £450m charge for the mis-selling scandal in its first results as a stock market-listed company, The Guardian reported. Officially known ...

Daily Headline - global.abi.org - 05/25/2016 - 00:42 - 0 comments

Goldman Sachs Banker Flagged BHS Suitor Had History Of Bankruptcy

Retail tycoon Philip Green's Arcadia group was warned by a senior Goldman Sachs banker that a possible suitor of its BHS department store chain had a history of bankruptcy, British lawmakers were told on Monday, Reuters reported. The 88-year-old, 16 ...

Daily Headline - global.abi.org - 05/24/2016 - 00:14 - 0 comments

Excalibur Steel In Talks With Liberty House To Rescue Tata

Excalibur Steel, a management buyout group interested in purchasing Tata Steel’s British steelmaking operations, is ready to lend its support to rival bidder Liberty House, according to industry sources, the Irish Times reported on a Reuters story. T ...

Daily Headline - global.abi.org - 05/22/2016 - 21:08 - 0 comments

BHS Bidder Yousuf Bhailok Abandons Rescue Attempt

Yousuf Bhailok, the Preston-based property millionaire, is pulling out of the race to save BHS after administrators told buyers to sweeten their offers by tens of millions of pounds, the Telegraph reported. The administrators are also demanding that ...

Daily Headline - global.abi.org - 05/16/2016 - 21:19 - 0 comments

Bank of England Issues Starkest Warning Yet on ‘Brexit’

The Bank of England said Thursday that a vote to leave the European Union could slam the brakes on growth in the U.K., push up unemployment and stoke inflation, in its clearest warning yet about the potential economic costs surrounding a referendum on me ...

Daily Headline - global.abi.org - 05/12/2016 - 20:06 - 0 comments

Cameron Targets Offshore Owners Of UK Property

The foreign companies that hold more than 100,000 UK properties will have to reveal their true owners under a transparency proposal announced by David Cameron. The step was greeted by transparency campaigners as “a great move” and was aimed at energising ...

Daily Headline - global.abi.org - 05/12/2016 - 20:07 - 0 comments

Britain To Fast-Track Investigation Into BHS Collapse

The British government on Tuesday ordered an investigation into the circumstances surrounding department store retailer BHS's collapse into administration last week, Reuters reported. Business Secretary Sajid Javid has instructed the Insolvency Serv ...

Daily Headline - global.abi.org - 05/03/2016 - 20:29 - 0 comments

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