What’s gone wrong at Sainsbury’s? Three problems the supermarket must address July 3, 2019 It has been several months now since the Mike Coupe’s dreams of a merger with Asda were dealt a lethal blow from Britain’s competition watchdog, but how much has changed? Directors at the supermarket chain have been setting out a plan to cut costs, slash debt and refurbish 400 stores. Yet investors will likely have [...]
JD Sports ‘on track’ to meet profit expectations as it gears up for AGM July 3, 2019 Sporstwear retailer JD Sports struck a confident tone in the City this morning as it claimed it was on track to meet profit forecasts. Shares in the high street brand edged up three per cent in morning trading after the group said it expected to deliver headline pre-tax profit ahead of its full-year results next [...]
Ryanair traffic takes off despite Brexit gloom July 2, 2019 Irish airline Ryanair carried eight per cent more passengers on its planes last month, it revealed today. The budget carrier said it served 13.6m passengers, up from 12.6m in the same period last year. It was spread across 78,000 flights. Read more: Wizz Air grows passenger numbers amid route expansion Earlier this year the company [...]
Apple boss Tim Cook brands reports he fell out with designer Jony Ive ‘absurd’ July 2, 2019 Apple chief executive Tim Cook has hit out at reports he fell out with departing design chief Sir Jony Ive, calling the claims “absurd”. Ive, the British designer behind the iPhone, iPod and iMac, announced last week he was leaving Apple to set up an independent design company. A report in the Wall Street Journal [...]
Johnson will demand EU talks over free trade says campaign chair July 2, 2019 Boris Johnson is willing to make an offer to the European Union over post-Brexit free trade, but if his offer is rejected, Britain will leave the EU without a deal, the head of his Tory leadership campaign has said. Iain Duncan Smith, Johnson’s campaign chair, told Sky News his candidate would tell the EU Britain [...]
L’Oreal in talks to buy Azzaro and Mugler from Clarins July 2, 2019 L’Oreal is in talks to buy perfume and fashion brands Azzaro and Mugler from Clarins Group, it said today. The company did not disclose the financial details of the proposed deals. Clarins said the two brands’ have combined sales of €416m (£372m), representing 26 per cent of Clarins’ annual sales of €1.6bn. Read more: L’Oreal [...]
China accuses Hong Kong protesters of ‘undisguised challenge’ to running of city July 2, 2019 China has accused protesters who stormed Hong Kong’s legislative building on Monday of “serious illegal actions” that constitute an “undisguised challenge” to the way the city is ruled. Police used tear gas early this morning to disperse protesters who had smashed their way into the city’s Legislative Council building as part of protests against a [...]
Following heavyweight champ Andy Ruiz Jr’s lead towards punchy portfolios July 2, 2019 | City Talk Until the start of this month, if you had shown someone a photograph of Andy Ruiz Jr and asked what sport he did professionally, there is a fair chance they would have guessed ‘darts’. We are fervently hoping Ruiz does not take that line amiss because, of course, the correct answer is ‘boxing’ and, on [...]
Trainline on track as it posts big sales boost in first results since IPO July 2, 2019 Trainline’s chief executive today hailed last month’s “successful” float as the company showed a big jump in ticket sales last quarter. Net ticket sales rose 20 per cent to £906m, the firm said. A 27 per cent increase in revenue from tickets sold to UK consumers helped boost the figures. Read more: Trainline owner mulls [...]