Debenhams shares slide as Moody’s hands struggling retailer a negative outlook January 17, 2019 Debenhams’ share price slumped seven per cent in morning trading, after ratings agency Moody’s lowered its outlook for the beleaguered retailer from stable to negative. Concerns over the risks that creditors might incur when lending to the embattled department store chain were flagged by Moody’s, pushing shares in Debenhams down 7.26 per cent to 2.8p [...]
Patisserie Valerie exodus continues as deputy chairman steps down January 17, 2019 Patisserie Valerie has been burned further this morning by the walkout of its deputy chairman. Lee Ginsberg – a non-executive director at the beleaguered cafe chain, which is caught in a devastating alleged fraud – would resign with immediate effect, the company said in an update. Ginsberg had been chair of the audit committee at [...]
Theresa May to put Brexit ‘Plan B’ before parliament on 29 January January 17, 2019 Parliament is set to vote on Theresa May’s Brexit “Plan B” on 29 January, it was announced today. House of Commons speaker Andrea Leadsom confirmed the date this morning, saying MPs will debate the new plan as May sets out her next steps towards Brexit. Read more: Hammond rules out no-deal Brexit in business conference [...]
Eurozone inflation falls to eight-month low led by slower rise in energy prices January 17, 2019 Eurozone annual inflation fell to its lowest level in eight months in December, led by a slower rise in energy prices. The single currency bloc’s Consumer Price Index (CPI) met market forecasts as it dropped to 1.6 per cent from 1.9 per cent in November, the EU’s statistical office Eurostat said today. But the month-on-month [...]
Game Digital shares boosted by positive Christmas trading in Spain while UK sales fall January 17, 2019 Video game retailer Game Digital’s shares shot up this morning as it announced a two per cent sales boost over the Christmas period, despite a drop in the UK market. The company said despite a “challenging retail climate” causing group sales to dip 0.5 per cent over the festive weeks from Black Friday to 5 [...]
Everyman cinemas on track as punters flock to picture palace January 17, 2019 Cinema chain Everyman Media today reported 2018 trading in line with expectations as it eyes a series of new openings. The boutique cinema group, which currently operates 26 venues across the country, said trading for the 52 weeks to 3 January was on track to hit forecasts. Read more: Chinese cinemas show bumper profits, but growth slows [...]
Government faces headache as Hitachi pulls out of £16bn Wylfa nuclear plant in Wales January 17, 2019 The government has reasserted it commitment to developing nuclear power after Hitachi pulled out of the Wylfa nuclear power plant this morning. The company took the decision to suspend work on the £16bn facility behind Hinkley Point C, which was meant to produce six per cent of the UK’s electricity, after holding detailed discussions with the [...]
Hammond tells business chiefs no deal could be ‘taken off the table’ on leaked conference call January 17, 2019 Chancellor Philip Hammond has told business chiefs a no deal Brexit could be “taken off the table” and Article 50 rescinded, according to a leaked conference call transcript. In a conversation with 11 business leaders after Theresa May’s deal was defeated in parliament on Tuesday night, Hammond said the result led to two issues. Firstly, [...]
Premier Inn owner Whitbread warns of stalling profits as it launches share buyback scheme January 17, 2019 Whitbread will kick off the process of giving £500m back to shareholders today after completing the £3.9bn sale of Costa, but warned that uncertainty would stall profits next year. It said Premier Inn has added over 2,000 new rooms since the financial year began in March. The company has grown sales in its accomodation business [...]
Former Nissan chairman Ghosn appeals bail refusal ahead of trial in Tokyo January 17, 2019 Lawyers for former Nissan chairman Carlos Ghosn have appealed a Tokyo court decision to refuse him bail as he remains in prison awaiting trial. The car tycoon has been in custody since his arrest on 19 November on charges of financial misconduct after being accused of underreporting his salary and transferring personal losses to Nissan. [...]