Solid fare expected from the UK’s listed supermarkets this week, including Tesco and Morrison’s, as a raft of retailers reveal their seasonal sales results January 8, 2017 The UK's three major listed supermarkets are expected to report solid Christmas trading this week, although investor focus will be on the outlook given this year's expected squeeze on consumer spending. On 10 January, Morrison's is expected to report underlying sales growth of 1.1 per cent for the nine weeks to 1 January according to [...]
Tui in talks with Swiss firm Kuoni and American companies KKR and Warburg Pincus over Travelopia sale January 8, 2017 Tour operator Tui is in talks with Swiss rival Kuoni and American buyout giants KKR and Warburg Pincus over the sale of a range of travel websites. In September of last year, Europe's biggest tour operator confirmed it had asked Citigroup to find a buyer for specialist holiday arm Travelopia in a deal potentially worth €500-600m (£428m-£514m). [...]
Private equity firm 3i mulls sale of retailer Hobbs for as much as £80m January 8, 2017 It could be a busy New Year for 3i. City A.M. understands the British private equity firm is looking to sell clothing brand Hobbs, which it has owned since 2004, for as much as £80m, with investment bank Rothschild being lined up to handle the auction. 3i declined to comment. The retailer undertook a strategic review of the [...]
CitySprint cycle courier wins workers’ rights in a key gig economy ruling January 7, 2017 A courier for same-day delivery firm CitySprint has won the rights to paid holidays and minimum pay in a landmark ruling by the central London employment tribunal. CitySprint claimed its couriers were not employed but were independent freelancers, meaning they aren't covered by statutory protections like holiday pay. But the tribunal ruled Margaret Dewhurst was not self-employed and is therefore [...]
Fabric reopens tonight with a mystery lineup and tougher security measures January 6, 2017 After four months of barred doors, Fabric nightclub is set to reopen tonight with stricter anti-drugs and security rules. After several drug-related deaths, the iconic London club was shut down by Islington Council in September. However, in November, after fervent campaigning, the nightclub was reopened under new measures. Those measures include banning clubbers under 19 years old [...]
The cost of New Year’s resolutions: Here’s how much you’ll spend on fancy diets and gym clothes January 6, 2017 After Public Health England warned Londoners they drink too much and don't exercise enough last month, many of us took the hint and set a New Year's resolution to get fit. In fact, the most popular resolution set in 2017 was to achieve a healthier lifestyle with a third of Brits setting goals to exercise more and [...]
Jamie’s Italian to slim down with restaurant closures January 6, 2017 Jamie's Italian is slimming down. The celebrity chef's restaurant group is shutting six of its outlets, which are likely to be sold in the first quarter of this year. The Brexit vote has been weighing on the business, and Jamie's has decided to close the restaurants which aren't getting enough people through the door. Campaign group [...]
Winter sun 2017 destinations: the best places to travel to right now January 6, 2017 The festive season is officially over, and the great British freeze has well and truly kicked in. What else is there to do other than jet away to your winter sun destination? Here’s our top five: Cancun, Mexico Overlooking the Caribbean sea, in this city – known for its golden beaches, endless sunbathing opportunities and vibrant nightlife – [...]
Female brewers in US are protesting Trump with a new beer January 6, 2017 A new protest against Donald Trump has emerged in the US, but this one's a bit boozier than the rest. In Denver, Colorado, multiple female-led breweries have come together to make a special protest beer just in time for the divisive US President-elect's inauguration on 20 January. Read more: Theresa May to visit Donald Trump in the US [...]
Gear4music’s quarterly sales are up 55 per cent from the previous year January 6, 2017 Britain's largest online retailer of musical instruments said full-year profit will be ahead of expectations as sales took a huge leap in the last quarter. Gear4music reported a total sales increase of 55 per cent on the same period in the previous year, rising to £24.4m, from £15.7m in the four months to the end of December. Shares [...]