Grind snaps up former Jamie’s Italian site in Greenwich September 6, 2018 Fast-growing London coffee and restaurant brand Grind has snapped up a former Jamie's Italian site in Greenwich for its biggest site to date. The site on Nelson Road was one of 12 restaurants shuttered by Oliver's company at the start of this year as part of a company voluntary arrangement (CVA). Grind now plans to [...]
Luxury retailer Anine Bing closes $15m series A led by Felix Capital, Index Ventures and Greycroft Partners September 6, 2018 Luxury womenswear brand Anine Bing has closed a $15m series A financing round led by London-based venture capital firms Felix Capital and Index Ventures and LA's Greycroft Partners. The retailer plans to use the funding to double its business between 2019 and 2020, and has aggressively accelerated sales and traffic. Read more: Challenger banking app Monese lands $60m funding round Over the last [...]
Impeach Trump? It wouldn’t affect the US economy one jot, says Barclays September 6, 2018 Impeaching President Donald Trump would have little to no effect on the fortunes of the US economy, according to Barclays. Trump said the economy would crash in the event of his impeachment, leaving everybody “very poor”, in an interview with Fox News last month. In reality, whether Trump sees out his four-year term in the [...]
Burberry to stop burning unsold stock and ditch fur from collections September 6, 2018 Burberry has announced it will no longer destroy unsold items after widespread outrage from investors and campaigners to the practice. The luxury fashion house has also confirmed it will no longer use real animal fur in its collections, starting with new creative director Riccardo Tisci's debut show this month. Following the revelation in July that Burberry [...]
More strikes on the cards as RMT renews mandate for industrial action on South Western Railway September 6, 2018 More strikes lie ahead for users of South Western Railway after workers at the RMT rail union voted to continue action over the role of guards. The RMT union said it had secured an 88 per cent vote to continue with the strikes that have plagued commuters over the past year after the government forced [...]
China threatens to retaliate if Trump imposes fresh tariffs on $200bn of Chinese imports September 6, 2018 China has threatened to retaliate if the US imposes any new tariffs as the world's two biggest economies look set to escalate their trade war. The deadline for public comments on US President Donald Trump's plan to impose tariffs on a further $200bn of Chinese imports will pass later today. Trump could move ahead with [...]
Asda ends price guarantee scheme as it eyes lower prices after Sainsbury’s merger September 6, 2018 Asda has joined the rest of the big four in ending a price guarantee initiative, saying it is "less relevant" to customers. The tool will be available until 3 October this year, and customers will still be able to redeem their vouchers for 28 days from the date they receive them. The grocer's chief customer [...]
Operation Yellowhammer: Photo of secret Treasury document reveals no deal contingency planning September 6, 2018 A secret Treasury document detailing the government's no deal contingency planning, under the code name Operation Yellowhammer, warns of the importance in maintaining confidence "particularly… for financial services". The document, which was snapped by political photographer Steve Back being carried by City minister John Glen into a Whitehall meeting this morning, included a series of discussion points for [...]
TfL to lose £20m from delay to ‘game-changer’ Elizabeth Line September 6, 2018 Transport for London (TfL) will miss out on £20m of additional revenue from the delay to the Elizabeth Line, commissioner Mike Brown has admitted. Earlier this month Crossrail Limited, which is building the £15.4bn Elizabeth Line, unexpectedly announced that the project that will connect Abbey Wood in the east to Reading in the west instead of this [...]
Weir Group share price falls on ‘softening’ industry demand September 6, 2018 FTSE 250 firm Weir Group’s share price sunk up to six per cent on news of “softening” demand for original equipment this morning. Shares fell to £16.76 in early morning trading, as the engineering firm issued an unwelcome update about its North American oil and gas market activity. “There was a considerable softening in demand [...]