Tuesday, June 22News For London

Tag: Finance

Ted Baker ignored staff warnings about ‘sketchy’ inventory record in May 2018

Ted Baker ignored staff warnings about ‘sketchy’ inventory record in May 2018

Breaking News, Business, Data Journalism, Education, Entertainment
The company which has a trading update due on 11 December is speculated to have known about the inventory blunder long before the records became public. Ted Baker employees tried to alert the luxury clothing brand about the mishandled inventory information as early as May 2018, per multiple employees working in their London headquarters. This chimes with the appointment of Freshfields Bruckhaus Deringer, the law firm appointed by the company to look into this miscalculation of inventory value - which also suggested Ted Baker knew of concerns about the problematic data earlier than it had publicly said. The operations team under new chief executive Lindsay Page is struggling to come up with a turnaround plan and the £20 - £25 million hit is making it difficult for investors to believe
Big Issue vendors hope contactless payment will bring social as well as financial inclusion

Big Issue vendors hope contactless payment will bring social as well as financial inclusion

Breaking News
With the rise of electronic payments across the UK and fewer people each month carrying cash on their person, public engagement with the homeless is lowest than it has ever been. Can contactless pay bring back the recognition Big Issue vendors are rapidly losing? The Big Issue has announced it will be trialling contactless payment systems in an effort to boost the income of its homeless vendors and mitigate the effects of a public consciousness that may be shifting away from the importance of giving to the homeless. The current affairs magazine has partnered with technology company iZettle for an 8-week trial across London, Bath, Birmingham, Bristol and Nottingham. If the plans are successful, they will be rolled out across the country. Buyers of the Big Issue will no longer ...