Build-A-Bear Workshop’s ‘pay your age’ promotion backfires July 17, 2018 Last week, children’s toy store Build-A-Bear found itself in the headlines following a promotional campaign that backfired. Stores rolled out a ‘pay your age’ day, in which parents could buy a teddy bear for the price of the age of their child. However, the initiative took a sour turn after keen customers were left standing [...]
Fintech company Revolut contacted police and regulator over money laundering worries July 17, 2018 Digital banking fintech Revolut called in police and regulators in the last few months after finding suspected money laundering on its system. Revolut contacted the National Crime Agency and City watchdog the Financial Conduct Authority after finding the suspected payments. Read more: Revolut launches Connect, its open banking enterprise marketplace The digital challenger bank was [...]
Another Commons battle looms as Labour vows to fight government on early recess motion and Brexit trade bill amendment July 17, 2018 Theresa May is facing rebellions on not one but two different votes today – including one about bringing the start of recess forward. Fresh from her pyrrhic victory yesterday, the Prime Minister is to go head-to-head with Remainers over another Brexit bill – this time on trade – and her decision to start MPs' summer [...]
Brexit: The damage inflicted by the ERG leaves Theresa May in power – but too weak to stop the Conservatives’ civil war July 16, 2018 A lot of ink has been spilled on whether the Prime Minister could face a vote of no confidence and be forced out of Downing Street. However, for many weeks now Brexiters have made it clear this is not the route they are seeking. Eurosceptics, represented in part by the European Research Group (ERG), know [...]
Consumers rail against ‘criminal’ switching fees as watchdog floats ban July 16, 2018 The Financial Conduct Authority (FCA) said today that it would seek to reform the £500bn investment platform sector to improve competition and better protect consumers. The City watchdog published interim findings from its study of investment platforms today and proposed a “package of measures” to protect consumers which could include the banning of exit fees [...]
Debate: Juventus is paying £99m for Ronaldo, is that good value in light of the strikes at Fiat Chrysler? July 16, 2018 Juventus is paying £99m for Ronaldo, is that good value in light of the strikes at Fiat Chrysler? Yes – Carlo Alberto De Casa is chief analyst at ActivTrades. Cristiano Ronaldo’s move has been named “the purchase of the century”, and could cost Juventus €400m by the end of the player’s stay. Yet, the summer [...]
Chequers deal crumbles as Theresa May gives into ERG’s amendments on new Brexit bill, putting facilitated customs arrangement at risk July 16, 2018 The government has backed down on all four of the wrecking amendments put forward by Brexiter-in-chief Jacob Rees-Mogg last week, in order to avoid an embarrassing defeat in the House of Commons. Three of the amendments were relatively uncontroversial, but a fourth – tabled by former Cabinet minister Priti Patel – was widely viewed as [...]
John Laing Infrastructure Fund shares leap on potential £1.4bn offer July 16, 2018 Shares in John Laing Infrastructure Fund (JLIF) leapt by more than 17 per cent this morning after a consortium of funds announced a possible cash offer for the business. The consortium said this morning that it is in negotiations with JLIF over a cash offer for the London-listed business that could value it at £1.4bn. [...]
Netflix’s share price slumps 14 per cent after reporting a disappointing second quarter July 16, 2018 Wall Street darling Netflix’s share price plummeted by 14 per cent in after-hours trading, thanks to a set of lacklustre results for its second quarter. The site added 5.2m subscribers globally in the three months to June, about a million fewer than it had forecasted. Netflix said in a letter to shareholders that it had [...]
London’s house price slowdown worsens as summer slump hits July 16, 2018 London's house price slump has deepened as the market enters its traditional summer lull, with experts signalling a boon for prospective first-time buyers. The average asking price of a house in the capital is down more than £11,000 compared to this time a year ago, marking the sharpest annualised fall since January. The closely-watched Rightmove [...]