Ted Baker in Chaos After Resignations
Total Page：16
File Type：pdf, Size：1020Kb
BUSINESS WITH PERSONALITY HIGHLAND FLING ART IN THE RIGHT PLACE OUR DRAMS AND DRAMA GUIDE TO SOME OF THE YEAR’S IN A SCOTTISH CULTURAL HIGHLIGHTS P14 WINTER’S TALE P15 TUESDAY 10 DECEMBER 2019 PRE-ELECTION SPECIAL FREE Ted Baker in chaos after ‘TWAS THE VOTE resignations ANNA MENIN @annafmenin TED BAKER’S share price BEFORE CHRISTMAS plummeted to a 16-year low this morning after two executives quit, plunging the stricken retailer further into crisis as it slashed its profit forecast and suspended its dividend. Shares dropped as much as 35 per cent in morning trading following the departure of chief executive Lindsay Page and executive chairman David Bernstein. Ted Baker issued the latest in a string of profit warnings in a trading update this morning, cutting its full-year expectations following poor Black Friday sales. The retailer, which has also launched a cost and asset CATHERINE NEILAN politicising the incident and said it highlighting the prospect of another review, has now dropped 78 @CatNeilan "reflected a real issue about the state of hung parliament and likening it to "a per cent in value since the our NHS." circle of hell." start of the year. THE Conservatives and Labour are Buckland told the BBC: “Politics and The fever-pitch campaign reaches its CMC Markets’ David battling for control of the agenda as general elections, despite the best climax as the latest polling suggested Madden described the update voters prepare to head to the polls on efforts of political parties, can be the smaller parties were being as “a train wreck,” adding: “it Thursday. unpredictable, and that particular story squeezed and the country was feels like the company is Jeremy Corbyn is determined to keep was one of those occasions where returning to its usual two-party coming apart at the seams”. the focus on the NHS after the Tories everybody was dealing with a very decision. A Deltapoll survey out last The update caps off a were forced into defending the Prime difficult situation.” night revealed that the Liberal turbulent year for Ted Baker, Minister as the row over an image of a In a separate interview, he Democrats were falling away in three whose shares dropped last four-year-old boy sleeping on a hospital maintained that Johnson had key London seats - Kensington, week after it disclosed a £25m floor rumbles on. apologised to the child's family, saying: Finchley & Golders Green and the Cities balance sheet error. Page took This morning justice secretary Robert "The reaction was clear, unforced and of London and Westminster have all over as chief executive in Buckland responded to growing natural, and the apology was been targeted by Jo Swinson's party. April after founder Ray Kelvin criticism of Boris Johnson's response to forthcoming and fulsome." Meanwhile, data released this stepped down following the image of Jack Williment-Barr, who The row over the NHS comes despite morning suggests the economy has sexual harassment allegations. was being treated for suspected the Tories’ best efforts to bring the ground to a halt. October saw no “The last 12 months has pneumonia in a Leeds hospital. conversation back to Brexit. Johnson growth in GDP, another headache for undoubtedly been the most Corbyn this morning denied spent today touring Labour-held seats, the Tories as polling day approaches. challenging in our history,” the company said today. UK GDP GROWTH FLAT PAGE 2 THE LATEST POLLS PAGE 3 THE SEATS TO WATCH PAGE 4 CITIES CANDIDATES MAKE THEIR PITCH PAGE 5 LATEST CITY NEWS PAGES 6-9 02 NEWS TUESDAY 10 DECEMBER 2019 CITYAM.COM LET THERE BE LIGHT Shard takes on Christmas theme with new illuminations THE CITY VIEW Tories can see a path to defeat HE BIGGEST fear stalking the Tory campaign HQ is that Ttheir supporters buy into the ‘inevitability narrative’ – the sense that Boris Johnson is cruising to victory and so voters won’t have to brave the cold and trudge to the polling station. Some may even feel the Tory poll lead gives them cover to vote for a Remain-supporting party. This is, according to Tory strategists, the nightmare scenario. Though the party has enjoyed a lead in the last 100 polls and currently sits between eight and 15 points ahead of Labour, nobody is prepared to go much further than “probably” when asked if the Tories will win on Thursday. Indeed, they probably will. But in the space between victory and defeat lies a serious cache of CHILDREN from a local school in Bermondsey designed this year’s festive Christmas display – Shard Lights – and pressed the button on the display last night. Inspired unexploded electoral grenades – by Christmas images, including a festive tree and Father Christmas hat, the light show will be on the side of the building until the end of December. REM, the asset and if just a handful of pins are managers of the London Bridge skyscraper, had to install 552 LED lights with 8,000 metres of cable – roughly the length of 956 London double decker buses. On New Year’s Eve the spire will be lit up in white before emulating London’s famous firework display on the Thames with what REM promises will be a “unique” light show. pulled, Jeremy Corbyn will spend this weekend negotiating the CAMPAIGN IN BRIEF formation a minority Labour government. Firstly, there’s the SHADOW HEALTH issue of undecided voters. Polls SECRETARY SAYS CIVIL suggest more than 20 per cent of SERVICE WOULD ‘ACT QUICKLY’ ON CORBYN those who voted Liberal Democrat UK economy stagnates Labour’s shadow health secretary in 2017, along with 11 per cent of Jonathan Ashworth was busy this Tory and Labour voters, are yet to morning trying to keep the focus on settle on a party ahead of the NHS row, but he found himself Thursday’s vote. The impact of trying to justify his own rather bleak analysis of Labour’s election hopes tactical voting is often over- as political crisis takes after a recording of his candid estimated, but it is being taken assessment was leaked online. more seriously now than ever Ashworth was talking to a friend and was recorded claiming that the civil before. Multiple campaign groups, service would “quickly move to united by a pro-Remain stance, are safeguard security” if Corbyn ploughing resources into toll on manufacturing entered Downing Street. On the convincing a small number of state of the national campaign he HARRY ROBERTSON last three months with a notable The pound was trading close to conceded: “It’s dire for Labour... it’s people in a small number of seats drop in house building and infra- eight month highs against the dol- dire... it’s awful for them, and it’s the to deny Johnson a majority. Then @henrygrobertson structure in October.” lar this morning at around $1.316, combination of Corbyn and Brexit... there are local issues and baked-in THE UK economy stagnated in Oc- The UK GDP reading was the last however. Traders are hopeful that a outside of the city seats... it’s party loyalties that, when push tober under the weight of yet more before the 12 December General radical Jeremy Corbyn-led Labour abysmal out there... they can’t stand political uncertainty and a global Election that - according to current government will not win the vote. Corbyn and they think Labour’s comes to shove, could stop the slowdown, official figures showed polling - is expected to result in a John Hawksworth, chief econo- blocked Brexit.” Asked about the Tories from chipping away at this morning. narrow Conservative majority. mist at professional services firm recording, Ashworth told the BBC’s Labour’s so-called Red Wall of British GDP’s failure to grow was Should his party win, chancellor PwC, said the GDP figures “showed Victoria Derbyshire that he was worse than economists’ predic- Sajid Javid will have to revive a slow- a familiar pattern”. “joshing with a mate” and that it was support in the midlands and the tions of a 0.1 per cent expan- ing economy. Weak survey The manufacturing sector’s reces- “just banter.” Pressed specifically on north. Finally, all parties will have sion. It marked an data from November sion continued as the country’s po- his criticism of Corbyn he said: “I don't to contend with the insurance improvement from the showed that the services, litical crisis and a global economic mean it.” industry’s nemesis: an act of God. 0.1 per cent fall suf- manufacturing and slowdown hurt demand. The ONS fered in September, said there were “widespread falls HUGH GRANT (ALMOST) Heavy rain is forecast to sweep however. The UK’s manufacturing across several manufacturing in- PRAISES TORY CAMPAIGN across the country from dawn until The economy also recession continued, the dustries”. VIDEO... dusk on Thursday, and when key failed to grow in the GDP figures showed He said growth is “likely to re- Actor and anti-Brexit campaigner constituencies will be determined three months to Octo- main subdued through the rest of Hugh Grant praised a viral Tory video ber, a timeframe which construction sectors all 2019, but we would hope for a grad- yesterday in which Boris Johnson by a handful of voters, activists are gives a more accurate shrank, boding badly for ual revival... if current political and acted out an iconic scene from Grant’s stocking up on umbrellas and and less volatile picture. fourth-quarter growth. economic uncertainties ease”. hit movie Love Actually. “It was quite block-booking minibuses. Johnson Production dropped by 0.7 per Business investment has fallen Investors grew cheerier across the well done,” he said, before going on to cent over this period, offsetting in 2019 due to Brexit uncertainty.