There's trouble in store for the upmarket retail emporium Harvey Nichols: after £86million in pre-tax losses over three years, its chief executive Manju Malhotra is to step down. Meanwhile, its owner, Hong Kong-based Sir Dickson Poon is said to be fretting and has appointed his son Pearson to stop the rot. I very much hope that he succeeds but I have seen this one coming for some years now.