Chilango offers big investors a free burrito every week as it launches crowdfunder to help fund five new London restaurants October 11, 2018 Chilango is offering investors the chance to get a free meal a week, as it looks to raise £1m from its new ‘Burrito Bond’. The Mexican restaurant chain plan to add five more establishments to its 10 in London by 2020. Read more: Protein powerhouse Glanbia shakes things up to buy Slimfast for $350m It [...]
Protein powerhouse Glanbia shakes things up with $350m acquisition of Slimfast October 11, 2018 Irish nutrition firm Glanbia has today confirmed it has signed a deal to buy popular diet milkshake brand Slimfast for $350m (£264.9m) from US private equity firm Kainos Capital. The weight management business was bought by Kainos Capital from Unilever in 2014. Today's deal is just a fraction of the $2.4bn Unilever paid for Slimfast [...]
WH Smith to restructure its high street business as travel takes off October 11, 2018 WH Smith intends to restructure its high street business after conducting a thorough review of the challenging environment faced by UK stores, as its total revenue edged upwards off the back of growth in its travel locations. While its high street profit was its third highest in 15 years, the retailer said it will wind down [...]
Asos teams up with Google to launch a shopping skill for Google Assistant October 11, 2018 Asos is expanding into voice-assistant technology in a partnership with Google, making it one of the first UK fashion retailers to debut on Google Assistant. Customers in the UK and US will be able to engage with Asos' fashion chatbot Enki, starting a conversation using the phrase "Hey Google, talk to Asos" on a smartphone or [...]
Shares in Burberry fall as Chinese appetite for luxury goods slows October 10, 2018 Shares in Burberry dropped over eight per cent Wednesday after Morgan Stanley downgraded the luxury goods sector over worries of a slowdown in the Chinese market. Chinese consumer confidence has peaked, the bank said, and consumption trends will likely slow further in the second half of the year before a slight upswing in 2019. Read [...]
Fevertree’s fizz falls flat with investors as shares dip again October 10, 2018 Fevertree’s share price is down more than nine per cent today as the tonic maker continues to tumble from its mid-September peak. The gin mixer brand saw its stock hit its highest level on 12 September, at 4,120p, but it has failed to climb further, instead seeing shares dip in the weeks before today’s losses. [...]
Alibaba billionaire Jack Ma named China’s richest man October 10, 2018 Alibaba founder Jack Ma has been named as the richest man in China for the second time in recent years after his wealth rose more than a third to $39bn (£29.6bn). Ma last topped the Hurun rich list in 2014 but has regained his position at the top after a new round of investment in [...]
Rank fined £500,000 after visiting problem gambler overseas October 10, 2018 Online gambling firm Rank will pay £500,000 after failing a problem gambler by visiting him overseas when he had asked the company to leave him alone. The Gambling Commission found Rank had failed to recognise a customer showing “problematic behaviour”, broke credit rules and contacted him at his home during a self-exclusion period. Read more: [...]
Patisserie Valerie owner faces HMRC winding up order as it warns investors of potential fraud October 10, 2018 Patisserie Valerie today warned investors of a winding up petition it faces over £1.14m in unpaid tax, after suspending shares this morning over potential fraud. HMRC said Patisserie Holding’s principal trading subsidiary, Stonebeach, owes it the money, and has set a hearing date of 31 October to seek a court order to liquidate the firm [...]
Flat pack expansion: Ikea to reach 3bn people by middle of next decade October 10, 2018 Ikea will reach almost half the world’s population by 2025 as it branches into South America and eleven other markets in the coming year. The furniture giant, which grew retail sales by 4.5 per cent in the financial year ending August, said it would open stores in Estonia, Ukraine, Puerto Rico, Oman, Luxembourg, Macau and [...]