Jeweller Pandora slashes forecasts as lower sales take the shine off growth November 6, 2018 Bereft of a chief executive and wounded by tough trading conditions, Danish jeweller Pandora painted a bleak picture this morning after slashing its sales outlook for the second quarter running. Missing its profit and sales expectations in the third quarter of 2018, the jewellery maker today revised down its full-year revenue growth guidance for the [...]
Electric scooter company Bird launches trial at the Olympic Park in a bid to change regulations November 6, 2018 US electric scooter sharing company Bird has launched a trial of its service today at the Olympic Park in east London. The use of electric scooters has boomed in the US and has begun to take off in Europe with cities such as Paris allowing their introduction. However, they are currently not legally allowed to [...]
Cost cutting helps New Look slow decline in like-for-like sales after China exit November 6, 2018 Retailer New Look slowed its decline in like-for-like sales amid challenging conditions on the high street, it said this morning. The company has said it will consider its position in markets abroad following a decision to pull out of China by the end of the year. In the UK, New Look is closing 85 stores, [...]
DEBATE: With some institutions at risk of bankruptcy, does the UK have too many universities? November 6, 2018 With some institutions at risk of bankruptcy, does the UK have too many universities? Benedict Spence, a freelance writer, says YES. Britain prides itself on its universities for their heritage, academic progress, and economic importance. But undergraduate applications dropped two per cent last year, student debt is rising, and whispers of refunds are starting to [...]
Eurozone business growth sinks to two-year lows on trade tensions and political uncertainty November 6, 2018 Eurozone business growth sunk to a two-year low in October as an export-led slowdown and Italian economic woes hit the bloc. The euro area's manufacturing sector growth reached its lowest level in nearly four years as global trade tensions and political uncertainty sparked a “disappointing” month, according to the IHS Markit Eurozone Composite purchasing managers' [...]
Killing Eve in real life would lead to a workplace disaster November 6, 2018 Few people seem to have missed one of this year’s most popular TV series, Killing Eve. For those who have not yet caught up with the latest craze, the show follows Eve Polastri, an intelligence officer whose sole mission becomes to track down an assassin named Villanelle – an operation that leaves a comedy (and [...]
Pound hits two-week high as markets grow optimistic over Brexit deal November 6, 2018 The pound hit a two-week high today as the markets expressed optimism that a Brexit deal is close. Sterling rose as high as 1.308 against the dollar this morning, its highest since 18 October, following a report from The Times that the EU was set to agree to compromise over the thorny issue of the Irish [...]
Festival goers give boost to consumer spending November 6, 2018 Music lovers snapping up tickets to Glastonbury Festival helped drive consumer spending during October, compensating for a continued slump in activity on Britain’s high streets. Industry data out today shows that consumer spending hit 4.4 per cent annual growth last month, marking a modest rise from September when purchasing hit a five-month low of 3.9 per [...]
Asset manager Gam’s chief executive resigns after losing billions in asset outflows November 6, 2018 The chief executive of embattled Swiss asset manager Gam Holding has stepped down following an $18bn (£13.8bn) slump in the value of its assets. Alexander Friedman resigned today, the company said, as it faced “important decisions” to secure the future growth of the business. The Swiss group lost billions in the third quarter after its [...]
Asset manager Invesco ups stake in Patisserie Valerie amid shareholder bailout November 6, 2018 A top ten investor in Patisserie Valerie has more than quadrupled its stake in the under-pressure cake shop chain. Invesco increased its shareholding to 7.76 per cent on Friday, taking it above the three per cent threshold where investors must disclose their stake. The investor, with around $1.2 trillion (£919bn) in assets under management, held [...]