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Patisserie Valerie says finance chief arrested

Patisserie Valerie says finance chief arrested

Business
The owner of Patisserie Valerie has said its finance director Chris Marsh was arrested last night and then released on bail.The cafe chain is fighting for survival after revealing on Wednesday it had uncovered "significant, and potentially fraudulent, accounting irregularities".Mr Marsh had been suspended when these problems were discovered.Late morning Friday the Serious Fraud Office said it had "opened a criminal investigation into an individual"."We can give no further information or comment at this time," the SFO said without naming the individual.On Thursday, the firm said it needed "an immediate injection of capital" to continue trading in its current form.The company, in which entrepreneur Luke Johnson has a 37% stake, did not provide any details o...
China accuses ex-Interpol chief of bribery, other crimes

China accuses ex-Interpol chief of bribery, other crimes

World
Chinese authorities said Monday they are investigating the former president of Interpol for bribery and other crimes and indicated that political transgressions may have also landed the Chinese official in trouble. In a statement posted on a government website, the authorities said Meng Hongwei, China's vice minister for public security, was being investigated due to his own "willfulness and for bringing trouble upon himself." It elaborated on a terse announcement late Sunday by an agency of the ruling Communist Party that investigates graft and political disloyalty that said that Meng was suspected of unspecified legal violations. Meng is now the latest high-ranking official, and one with an unusually prominent international standing, to fall victim to a sweeping crackdown by the ruling...
Former Man Utd chief Kenyon plots Newcastle bid

Former Man Utd chief Kenyon plots Newcastle bid

Business
Former Manchester United and Chelsea chief executive Peter Kenyon is plotting a takeover bid for Newcastle United that could end Mike Ashley's decade-long ownership of the Premier League club. Sky News can reveal that Mr Kenyon has approached a number of potential financial backers in recent weeks about the idea of collaborating on a deal.City sources said this weekend that he was working on a bid with Rockefeller Capital Management, a New York-based firm run by Greg Fleming, one of the most prominent figures on Wall Street from his time at Merrill Lynch and then Morgan Stanley's wealth and asset management divisions.Mr Kenyon, who is now a director of a sports consultancy business called Opto Advisers, is said by potential investors to have held preliminary talks with Mr A...
Standard Chartered chief warning over Brexit staff moves

Standard Chartered chief warning over Brexit staff moves

Business
A Standard Chartered bank executive says tough demands by EU regulators could mean more jobs being moved from the UK overseas than currently thought.Europe and Americas boss Tracy Clarke says the relatively small size of the bank in the EU market means it would not "be moving hundreds of people".But she says the impact on banks with large EU services may be "significant".Standard Chartered is to spend about £15m turning its Frankfurt office into a European base due to Brexit.The bank plans to create a subsidiary at its German branch in order to maintain access to the European market after the UK withdraws from the European Union.'Empty shells'It has been waiting nearly nine months for EU officials to approve the relevant banking licence, which it or...
Kofi Annan death: World leaders honour former UN chief

Kofi Annan death: World leaders honour former UN chief

World
Media playback is unsupported on your device World figures have been paying tribute to former UN secretary-general and Nobel laureate Kofi Annan, who has died at the age of 80.Current UN chief Antonio Guterres hailed him as "a guiding force for good" and Russian President Vladimir Putin described a "remarkable person".Ex-US President Barack Obama said Annan had always pursued "a better world".The Ghanaian national served as UN chief from 1997 to 2006 and is the only black African ever to hold the post.Since then he has served as the UN special envoy for Syria, leading efforts to find a solution to the conflict.The career diplomat died in hospital in the Swiss city of Bern. He had been living near Geneva for several years.He "passed away peacef...