Rowe stepped down as the British retail giant’s CEO last month. While he will not receive a pay-off, he will continue to be employed as a consultant with pay of up to £843,000 for as long as a year after ceasing full-time employment for M&S in July. Rowe will also be able to cash in […]
Tesla CEO Elon Musk has accused Twitter of committing a “material breach” of his $44 billion deal to buy the social media giant and has threatened to walk away from the deal altogether. As part of a dispute over the number of fake accounts on Twitter, Musk’s lawyers have written to the social media company, […]
In the UK, 70 companies are giving their 3,300 employees a three-day weekend from Monday. Though the employees won’t see any reduction in pay, they are expected to maintain their typical levels of productivity. The trial has been organised by academics at Oxford and Cambridge universities and Boston College in the United States, with a […]
Retail giant B&M Bargains has promoted its chief financial officer Alex Russo to the role of chief executive following Simon Arora’s decision to step down. Russo, who joined B&M in October 2020, has previously held senior leadership positions at supermarkets Asda and Tesco. Russo’s appointment to CEO follows a thorough assessment and external benchmarking process […]
The Home Office announced that the Border Force agency’s agreement with P&O would now be terminated. “In response to P&O Ferries’ unacceptable behaviour, Border Force has terminated its agreement with P&O to provide contingency travel services to juxtaposed ports with immediate effect,” a Home Office spokesperson said. Transport secretary Grant Shapps said in a tweet, […]
Tesla CEO Elon Musk has seen $46.4 billion wiped off of his net worth, according to the Bloomberg Billionaires Index. Meanwhile, Amazon founder Jeff Bezos is down $53.2 billion, and Microsoft co-founder Bill Gates has seen a $15.1 billion loss. At the time of writing, Forbes estimates Musk’s net worth to stand at $230.1 billion, […]
According to The Scotsman, the world’s largest bottle of whisky — a 311-litre bottle of Macallan single-malt Scotch — has sold for £1.1 million at a live auction overseen by Edinburgh-based auction house Lyon & Turnbull. The 5ft 11in tall bottle, called the Intrepid, holds Scotch from two sister casks that were aged for 32 […]
Median pay for top female business leaders rose to almost $16 million, according to Equilar’s annual survey for The Associated Press. Out of the 340 CEOs in Equilar’s most recent survey of S&P 500 companies, 18 were women, an increase of 2 since 2020. Median pay for these women was up 26.4% in 2021, reaching […]
In 2021, luxury French fashion house Chanel recorded $15.6 billion in sales, according to figures it shared with Business of Fashion. The figure marks a 50% increase over its 2020 sales, and a 23% increase over its 2019 sales. The fashion house achieved these impressive results despite the Covid-19 pandemic, rising inflation, and spending $1.8 […]
According to The Verge and CNBC, Shotwell, who joined the spacecraft company in 2002, sent an email to all SpaceX employees titled “the recent news story”, in which she defended Musk: “Personally, I believe the allegations to be false; not because I work for Elon, but because I have worked closely with him for 20 […]
Billionaire property tycoon Nick Candy is reportedly considering making a purchase offer on the £1.4 billion online shopping group THG, which was formerly known as The Hut Group. THG has recently rejected numerous “unacceptable” takeover offers that undervalued the company. With an estimated fortune of £1.5 billion, Candy has until 16 June to make a […]
Alongside BlockBar.com, the famed scotch brand is offering seven whisky connoisseurs the chance to own an extremely rare bottle of 48-year-old Johnnie Walker Masters of Flavour, as well as their very own digital art, and an exclusive brand experience in Scotland. The tokens will give access to a unique graphic design piece by artist Kode […]
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