M& B's Bad Bet Claims Its Biggest Scalp yet ; City Focus [Edition 3]
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Summary
IT was supposed to be a clever device to save cash. But it ended up as one of the worst pieces of financial engineering in recent history.
A disastrous gamble on interest rates has now left pubs group Mitchells & Butlers with Pounds 500m of losses.See the full content of this document
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M& B's Bad Bet Claims Its Biggest Scalp yet ; City Focus [Edition 3]
And yesterday, the failed wager - a device to hedge the risk of inter-esrate movements - claimed its biggest scalp: Tim Clarke, M& B's chief executive.
Chairman Roger Carr and finance director Karim Naffah have already stepped ...See the full content of this document
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