Employee Engagement

Patisserie Valerie scandal: five people arrested

Five people have been arrested and questioned over alleged accounting fraud at the Patisserie Valerie chain, the Serious Fraud Office has said. The arrests took place last Tuesday, 18 June, in a joint operation with police, the SFO said. The move comes eight months after the firm’s former finance director, Chris Marsh, was arrested and freed on […]

Insurer Aviva to cut 1,800 jobs worldwide

UK insurer Aviva has said it will cut 1,800 jobs worldwide over the next three years in order to reduce costs, and plans split its business into two. Aviva has offices in 16 countries and a global workforce of 30,000 people, with 16,000 employees in the UK. The firm’s UK sites include London, Norwich, York, […]

Prada to stop using fur from next year

Fashion house Prada has announced it is to stop using fur from next year. Joh Vinding, chairman of the Fur Free Alliance (FFA), said: “The Prada group with its brands now joins a growing list of fur-free brands that are responding to consumers’ changing attitudes towards animals.” The FFA is a coalition of more than […]

Thomas Cook shares ‘worthless’ says Citigroup

Shares in Thomas Cook have plunged 30% after analysts at a bank said the travel firm’s shares were ‘worthless’. Thomas Cook’s tour operations and airline are worth £738m, but its debt is around the same “and implies zero equity value”, according to Citigroup. Citigroup’s damning conclusion comes a day after Thomas Cook issued its third profit […]

Vodafone posts a loss and cuts payout

Vodafone has swung to a full-year loss and cut its pay-out to shareholders for the first time. The reduction in the dividend to nine euro cents a share from 15.07 cents contradicts a pledge in November by new chief executive Nick Read to maintain the pay-out. The mobile phone giant pays one of the biggest […]

Three out of ten CMOs have not invested in CX

Research unveiled today found that 36% of CMOs admit their brand still hasn’t invested in customer experience (CX), despite 88% expecting a focused CX programme to yield long-term customer loyalty and increasing sales over time. The survey of over 100 senior CX professionals from national and international brands of all sizes was carried out by […]

Uber aims for $90bn stock market debut

Uber has revealed that it is seeking a valuation of $90bn (£70bn) in its much anticipated stock market flotation. The taxi-app firm has said that its shares will be priced at between $44 and $50 each, with the share issue set to raise about $10bn. As part of the offer it will sell $500m worth of […]

Philip Green brings in new blood as he prepares to swing the axe

Sir Philip Green has appointed two restructuring specialists to the boards of his Arcadia retail empire as he prepares a major overhaul. Jamie Drummond Smith, chairman of finance group Cattles, becomes chairman of Topshop, Topman, Arcadia Group, and the ultimate parent company Taveta. He was previously Cattles’ chief restructuring office. Peter Bloxham, ex-head of restructuring […]

Majestic Wine to close stores and rebrand as Naked

Majestic Wine has announced plans to revamp its business by closing some of its 200 stores and concentrating on its online Naked Wines division. The change will also see the company being renamed Naked Wines. More details of the store closures – and any job losses – will be given in June along with its […]