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The Latest Breaking News from WH Smith

Iran war hurting UK economy as consumer confidence falls; BP’s new chair suffers investor revolt – as it happened

UK consumer optimism drops for third month running, as people grow more worried about the economy and their personal financial situation

The Guardian - UK

WH Smith warns of potential impact of Middle East war on stores in the region

Shares fell in early trading in the City after chain said it was “mindful” of the impact from the conflict in Iran

Evening Standard

WH Smith buyer seeks help with dozens of shops at risk of closure

WH Smith sold its high street stores to Modella last year, but held onto its travel shops

The Independent UK

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TG Jones owner calls in help for possible shop closure plan – reports

Modella Capital is reportedly in talks with Teneo over a plan for the chain, formerly WH Smith’s high street shops.

Evening Standard

Trump’s tariff threats keep European stocks on back foot

Beazley was the FTSE’s star blue-chip performer surging 43% after Zurich Insurance said it has tabled a £7.7-bn bid for the London-listed insurer.

Evening Standard

UK retailer picks new boss to lead recovery

IN FULL

The Independent UK

WH Smith hire turnaround veteran with package that could be worth £25m

Leo Quinn will be awarded £12.25 million WH Smith shares that will vest in five years time

Evening Standard

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WH Smith names former Balfour Beatty boss as executive chairman

Leo Quinn will start on April 7, subject to shareholder approval, replacing current non-executive chairwoman Annette Court.

Evening Standard

WH Smith names new executive chairman after accounting scandal

Previous WH Smith chief executive Carl Cowling stepped down following the accounting error

The Independent UK

What is Modella Capital? Firm in spotlight as Claire’s and The Original Factory Shop face collapse

Investment firm that also bought WH Smith’s high street business has reputation for rapid and hard-nosed restructuring

The Guardian - UK

WH Smith to claw back £1.5m from ex-bosses after accounting scandal

The travel retail specialist confirmed last week it is being investigated by the UK’s financial watchdog after it overstated North American profits.

Evening Standard

‘I’ll never say I’m popping to Jones’s’: shoppers yet to feel love for WH Smith’s high street replacement

TG Jones took over stores six months ago but consumers have noticed little change or investment

The Guardian - UK

WH Smith tries to recover bonuses from ex-bosses as watchdog investigates accounting error

Retailer targets £7m in bonuses as FCA examines scandal in North American arm

The Guardian - UK

WH Smith bids to recover overpaid bonuses to bosses as accounting issues probed

Interim boss Andrew Harrison said he was ‘acutely aware that we have much to do to rebuild confidence’ in WH Smith.

Evening Standard

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Evening Standard

WH Smith to unveil delayed results as progress hit by accounting errors

The retailer, which is now focused on travel stores, will reveal its results for the year to August 31 on Friday December 19.

The Guardian - UK

Card Factory issues shock profit warning during peak Christmas period

Retailer, which also owns Funky Pigeon, says economic pressure has hit shoppers’ confidence

Evening Standard

WH Smith delays results again after accounting errors

The retailer told shareholders the delay would give auditor PwC ‘further time to complete the required audit procedures’.

Evening Standard

FTSE 100 Live 12 December: GDP reverse fuels rate cut bets, Card Factory slides

The UK economy declined by 0.1% for a second successive month in October, figures today showed.

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The Guardian - UK

FCA makes inquiries into WH Smith accounting error that wiped almost £600m off value

Regulator assessing whether firm breached UK disclosure rules for listed companies, but is yet to launch formal investigation

The Independent UK

Pound falters as soft inflation tees up rate cut

Analysts say that there is potential for the Bank of England to resume cutting rates in December.

The Independent UK

Severn Trent chief executive to step down after becoming longest serving female boss in FTSE 100

Liv Garfield is currently the longest serving female boss in London’s blue chip share index, followed by GSK chief executive Dame Emma Walmsley,

The Guardian - UK

WH Smith CEO quits after accounting error that wiped almost £600m off value

Company slashes profit outlook as it takes hit from blunder in North American division

Evening Standard

WH Smith boss quits after investigation into 'extremely serious' accounting errors in North America

Profits in US division now expected to be as low as £5 million compared with £55 million before the shortcomings were exposed

The Independent UK

WH Smith boss steps down as retailer issues fresh profit warning

Andrew Harrison, who currently heads the group’s UK division, has been appointed on an interim basis

Evening Standard

WH Smith boss steps down after US accounting probe

The group downgraded its full-year expectations once again as the profit shortfall in the US is set to be greater-than-feared.

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