The activist shareholder which called in January for Peloton to fire co-founder John Foley has taken aim at its new chief executive, arguing that Barry McCarthyhas failed to reform the connected-fitness company’s governance or justify its continued independence. Blackwells Capital, which has a stake of almost 5 per cent, plans to set out its argument
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Tesco lifted profits last year but the UK’s biggest supermarket group has warned earnings will suffer this year as it prioritises price competitiveness in the face of soaring costs and a vicious squeeze on household incomes. Chief executive Ken Murphy said on Wednesday that while the full impact of rising inflation was yet to be
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Please don’t tell anyone what happened today lads x. That’s among the standout lines in chat logs released on Tuesday as part of litigation against UK traders accused of engineering an oil futures crash. A class-action lawsuit filed by rare coin shop Mish International Monetary alleges that traders associated with Vega Capital London made out
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Wealthier UK investors have suffered greater losses than smaller traders since the beginning of the year, as market turbulence struck down the riskier portfolios typically favoured by those with higher levels of investment. Interactive Investor, which has roughly a one-fifth share of the UK’s self-directed investment market, said on Monday that customers with more than
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Stockpiles of some of the world’s most important industrial metals have dropped to critically low levels as record power prices in Europe hit production and the war in Ukraine threatens output from Russia. Inventories of aluminium, copper, nickel and zinc — four of the main contracts traded on the London Metal Exchange — have plunged
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One thing to start: Two of the most influential proxy advisers have counselled Credit Suisse shareholders to vote against a motion to absolve executives and board members from blame for the multiple scandals afflicting the Swiss lender. Saying auf Wiedersehen to German banks In February 2020, as disappointing revenue growth, negative interest rates and the
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This is an audio transcript of the FT News Briefing podcast episode: Volkswagen’s U-turn Marc Filippino Good morning from the Financial Times. Today is Wednesday, April 13th, and this is your FT News Briefing. [MUSIC PLAYING] US banks are out with quarterly earnings this week. We’ll get a preview from FT US banking editor Josh
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Gideon Rachman’s “Strongman syndrome” article (Life & Arts, April 2) damns Boris Johnson, the UK prime minister, by crude association with the likes of Vladimir Putin and Recep Tayyip Erdogan claiming “even in the UK, Boris Johnson’s plan for ‘Global Britain’ draws on nostalgia for a period when Britain was a great imperial power rather
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