Here’s why mums go to Iceland: Supermarket beats Tesco, Asda and Morrisons to be named the best online retailer in consumer survey, and boss Malcolm Walker is clearly pleased February 15, 2016 Iceland, favourite of mothers across the nation and anybody else looking for decently priced party snacks they can stock in their freezer, has been voted the UK's best online supermarket. The league table released today by Which? gives Iceland an impressive overall customer satisfaction score of 77 per cent, ranking it above Waitrose, Ocado and [...]
Guy Hands’ Terra Firma mulls sale of Wyevale Garden Centres February 14, 2016 Guy Hands’ Terra Firma is considering a sale of its garden centre business Wyevale after four years of ownership. The private equity house has already been approached by several suitors and has also held talks with advisers to work on the sale including Goldman Sachs, according to The Sunday Times, citing a price tag of [...]
LFW Autumn-Winter ’16: Who are the London Fashion Week brands to bank on? How share prices for Marks & Spencer, Burberry and Mulberry are shaping up ahead of the the shows February 14, 2016 In a little over four days time, London will be buzzing with trendsetters as Fashion Week arrives in the capital. But, apart from rerouting your commute so it doesn't head through Soho, what does this mean for the average City A.M. reader? Here's a run down of the business news you need to know for some [...]
Hungry suitors circle Pizza Hut as owners put the restaurant chain up for sale February 14, 2016 The Private equity owner of Pizza Hut has put the restaurant chain up for sale after hiring advisers at PwC to find a buyer. Rutland Partners bought Pizza Hut’s UK franchise business from US firm Yum! brands in 2012 and set out on a £60m revamp of its 285-plus outlets to boost trading. Efforts have [...]
Former chief executive Martin Winterkorn warned of Volkswagen defeat device probe, according to reports February 14, 2016 The former chief executive of Volkswagen Martin Winterkorn was notified as early as May 2014 that US regulators would be probing into emissions-cheating devices, over a year before the scandal emerged, according to reports. Winterkorn and other senior figures have denied knowing about the so-called defeat devices, which can detect when a car is being tested for emissions. [...]
Challenger banks: Hampshire Trust Bank says customer deposits are up more than 800 per cent as it posts first profit since 2014 management buyout February 14, 2016 Hampshire Trust Bank has posted its first profit since a management buyout in 2014, reporting strong growth in total assets, customer deposits and customer numbers for 2015. Hampshire Trust Bank, a specialist challenger bank focusing on small and medium-sized businesses, reported that its total assets had multiplied by more than four times during the year [...]
FTSE 100 index closes higher as price of oil rebounds and share prices at miners and banks including HSBC, RBS, Lloyds and Barclays rise and Rolls-Royce’s share price rockets February 12, 2016 Having taken a pounding on Thursday, the FTSE 100 index closed sharply higher today as the price of oil rebounded. The UK's blue chip index closed 3.08 per cent higher at 5,707 points, led higher by Rolls-Royce, banks and miners. The price of oil rose more than three per cent to nudge over $31 a barrel this morning, after an Opec minister [...]
Knowledge centre, sponsored content and restructuring its cost-base: What’s in store for a digital-only Independent February 12, 2016 Today's announcement from Eugeny Lebedev confirmed the Independent will cease to exist in print form at the end of March, after a 30-year run. Speculation is rife as to whether this strategy was a preferred approach, or if Lebedev’s hand was forced. Either way, it comes as little surprise to industry commentators. The paper’s average circulation figures stand [...]
S&P downgrades Tullow Oil amid low oil prices February 12, 2016 Standard & Poor's downgraded Tullow Oil due to the credit ratings agency's forecast for oil prices to remain lower for longer. Standard & Poor's (S&P) lowered Tullow Oil to "B" from "B+" and placed it on negative watch, which means it could be subject to further downwards revisions. Other UK-based companies that had their credit ratings chopped [...]
EE earnings grow by double digits as 4G customers soar February 12, 2016 EE’s earnings are up by double digits as the firm, which is now part of BT, reports 4G users hitting a 14m milestone. The figures EE’s total network connections grew by 1.8 per cent in 2015, to hit 31.5m in total. Earnings before interest, tax, depreciation and amortisation are up 12.1 per cent over the [...]