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Wednesday newspaper round-up: Arcadia staff, Birkenstock, BASF

Wed 10 February 2021 07:27 | A A A

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(Sharecast News) - Hundreds of former Arcadia staff are lining up to claim compensation after being made redundant following the collapse of Sir Philip Green's fashion empire. Two no-win no-fee legal firms say they have already gathered almost 200 potential claimants who they say may not have been properly consulted before losing their jobs. - Guardian

German sandal maker Birkenstock is at the centre of a €4bn (£3.5bn) takeover battle as the trend for casual footwear steps up during the pandemic. Private equity firm CVC Capital Partners, the owner of dozens of companies from motorway services firm Moto to luxury watchmaker Breitling, is vying to buy a majority stake in Birkenstock with L Catterton, a private equity firm part-owned by Louis Vuitton and Christian Dior owner LVMH. L Catterton already owns fashion brands including Ganni, Seafolly and Pepe Jeans. - Guardian

Sadiq Khan is demanding that Boris Johnson hands over £500m in "road tax" paid by Londoners after ministers shot down his plan to charge drivers up to £5.50 to enter greater London. The Mayor's proposal, revealed last month and intended to help balance the books at Transport for London, was branded "taxation without representation" by Grant Shapps, Transport Secretary. - Telegraph

The former Court of Appeal judge behind a highly critical report into the City regulator's mishandling of the London Capital & Finance scandal has questioned evidence given by the governor of the Bank of England to MPs. It emerged yesterday that Dame Elizabeth Gloster had written to Mel Stride, chairman of the Treasury select committee, to voice her disagreement with some of the testimony that Andrew Bailey gave to MPs on Monday. - The Times

The government and a German industrial giant have been sharply criticised over the closure of a factory in the northeast of England, with the loss of hundreds of jobs, despite a £1 billion loan from the Bank of England during the Covid-19 crisis. BASF, the world's largest chemicals producer, took the loan last April as part of the UK's covid corporate financing facility (CCFF) aimed at helping employers in the UK get through the crisis. - The Times

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