Merger of German luxury superyacht giants Blohm+Voss and Luerssen Group steams ahead September 28, 2016 Two of the world’s largest superyacht makers are set to merge after private equity group Star Capital agreed to sell German shipbuilder Blohm+Voss to fellow German boat specialist Luerssen Group. Star Capital bought the group of four Blohm+Voss businesses in 2011 from German steel major ThyssenKrupp and quickly offloaded two businesses, a marine components maker and [...]
Over-55s are prepared to spend £5k on their off-season holidays – but travel firms’ are failing to market to them properly September 28, 2016 Over-55s are prepared to be spend big on their holidays, even out of season, but travel brands are failing to attract this lucrative category of increasingly tech-savvy silver travellers. More than half (56 per cent) of over-55s choose to travel out of season in May, June and September, according to research from MailJet, and one in [...]
“Sainsbury’s footfall is falling short” – analysts react to the retailer’s trading update September 28, 2016 Sainsbury's issued a 1.1 per cent fall in like-for-like sales this morning, and analysts' reactions have been pretty scathing. The retailer boosted its volumes, but the supermarket price war has eroded any benefit Sainsbury's might have wanted to see in its like-for-likes as a result. Sainsbury's share price has dropped 3.67 per cent today following [...]
BT, TalkTalk, and Vodafone all perform badly in latest set of Ofcom complaints data September 28, 2016 Telecoms watchdog Ofcom has revealed the best and the worst performers when it comes to customer complaints for broadband, landlines, mobile, and pay TV. Complaints figures are presented per 100,000 customers and covers the three-month period from April to June 2016. BT topped the list of broadband complaints, followed by its subsidiary Plusnet, with 26 and 23 respectively. The industry [...]
Cheers: SABMiller shareholders vote in favour of AB InBev’s £79bn Megabrew takeover September 28, 2016 SABMiller investors have given the green light to Anheuser-Busch InBev’s £79bn Megabrew merger. Minority shareholders for the FTSE 100 drinks giant voted overwhelmingly in favour of the deal, one of the largest in corporate history, with more than 95.5 per cent of votes cast in support. All shareholder hurdles for the mega-merger have now been passed, [...]
Hunter Boot reports 19 per cent revenue growth as North America goes mad for wellies September 28, 2016 Hunter Boot, the company behind the iconic wellies beloved of countryside dwellers and fashionable festival goers, has reported a jump in revenue in 2015, driven by strong sales on the other side of the pond. Revenue grew by 19 per cent to £113.7m, up from £95.7m in 2014, off the back of a 33 per cent increase [...]
Sales drop at Sainsbury’s in second quarter – but Argos is growing September 28, 2016 Sainsbury's reported at drop in sales during the 16 weeks to 24 September, despite transaction growth and flat fuel sales – but Argos posted a strong performance for its second quarter. The company's share price had fallen by 3.03 per cent in mid-morning trading. The supermarket posted a 1.1 per cent decline in like-for-like sales, [...]
Weak pound draws tourists to London’s Westfield centres September 28, 2016 Westfield shopping centres have been inundated with Chinese customers bulk buying Burberry handbags on the back of the weak pound. In July, Chinese spend in Westfield Stratford jumped 116 per cent year on year. Chinese spend in Westfield London, White City, increased by 16 per cent. Read more: Westfield Stratford set for more visitors in [...]
Glass looks half full for Anheuser-Busch InBev’s Megabrew takeover of SABMiller September 27, 2016 The glass is looking half full for Anheuser-Busch InBev’s £79bn takeover of FTSE 100-listed drinks group SABMiller ahead of the final shareholder vote tomorrow. Sources close to the deal, dubbed Megabrew, are confident it will avoid any last minute glitches. Minority investors in SABMiller will vote on the tie-up tomorrow morning at a High Court [...]
Cath Kidston customers go potty for new Winnie-the-Pooh range September 27, 2016 Cath Kidston has launched its collaborative designs with Disney’s Winnie-the-Pooh, with most products selling out within hours. The brand experienced its largest online full price sales to date and traffic on the website hit record highs at 3500 per cent more visitors than usual. Around one mug was sold every minute (58 per hour) and there [...]