A legal case brought against directors of Christmas saving scheme
Farepak has collapsed in what the Telegraph claims is a “humiliating blow
to the government”. According to the article, the case was
withdrawn after it emerged that the directors had done their best
to protect customers’ cash but had been turned down by their bank
HBOS-twice. This meant there was more money to be distributed to
secured creditors, in this case, the bank, when Farepak collapsed.
Dixons is reaping the rewards of its
“renewal and transformation plan” with a sales growth
of 3 per cent in the full year, and a 5 per cent rise in the final
quarter. Sales in the UK and Ireland were up 2 per cent to
£3.83 billion and chief executive Sebastian James says the
“new financial year has got off to a good start with the
trends seen in the final quarter of last year broadly
continuing”. He adds that the business continues to
“plan cautiously and manage costs aggressively”.
Underlying pretax profit was down from £85.3 million to
£70.8 million in the year ended 28th April, as good progress
in the UK, Ireland and Northern Europe regions was offset by
weaker performances in Southern Europe and Pixmania.
Ebay has appointed Vladimir Dolgov, a former
Google manager and chief executive of Russian online retailer
Ozon, to oversee its recently launched Russian
marketplaces business.
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