Barclays calls on retailers to help stop mounting BNPL debt crisis June 23, 2022 Barclays has sounded the alarm over rising buy-now pay-later debt today and called on retailers to step up and protect shoppers, warning that 876,000 Brits could be plunged into unmanageable debt this year without intervention.
Boots’ sole suitor rallies lenders as takeover concerns linger on June 22, 2022 Boots’ sole bidder is relying on four major lenders to get its £5bn-plus takeover closer to the finishing line. As first reported by Mark Kleinman for Sky News, the consortium of Apollo Global Management and Reliance Industries are pinning their hopes on Royal Bank of Canada, Credit Suisse, Santander and Bank of America to finance [...]
Mike Ashley’s Frasers Group ups stake in German fashion brand Hugo Boss, again June 22, 2022 Mike Ashley’s Frasers Group confirmed this morning it has increased its stake in luxury German fashion brand Hugo Boss once again. Frasers said it now has 3.4 million shares – a 4.9 per cent stake – in Hugo Boss and holds buy options over another 26 per cent shareholding. The group said its investment in [...]
JD Sports revenue jumps by £2.4bn in 12-months amid US expansion June 22, 2022 JD Sports’ revenue has jumped by nearly £2.4bn over the past year, after easing lockdown restrictions eased meant people could flock back to stores and sports events. Revenue jumped to a total of £8.6bn in the 12-months to 29 January, up from £6.2bn in the same period a year prior. The high street retailer has [...]
Entrepreneurship: Fintech Clear Junction named fastest growing founder-led firm in inaugural list June 22, 2022 The founder of the UK’s fastest growing founder-led firm has said the key to success is being “really, really” confident. Global payments solutions provider Clear Junction has topped the inaugural FEBE Growth 100 list, shared with CityA.M. on Wednesday. Backed by former BBC Dragons Jenny Campbell and Sarah Willingham, the Growth 100 ranks firms by [...]
O2 partners with instant grocery firm Gopuff to deliver goods to gig goers June 22, 2022 The O2 has announced a multi-year partnership with Gopuff, the instant grocery, food and drinks delivery firm.
BNPL set to hit $607bn by 2026 despite regulatory scrutiny, analysts predict June 21, 2022 The global buy-now pay-later credit market will swell to $607bn by 2026 despite increased regulatory scrutiny of the sector, analysts have predicted.
Bewildered: M&S hits out at Gove over public inquiry over iconic Oxford St flagship store redevelopment June 21, 2022 Marks and Spencer has slammed the housing minister’s decision to hold a public inquiry over a redevelopment plan of its Marble Arch store. The supermarket said it was “bewildered and disappointed” that Michael Gove had chosen to call in its plans to bulldoze the Art Deco flagship store on Oxford St. A public inquiry will [...]
Kellogg to split into three firms as cereal maker focuses on snacks June 21, 2022 Cereal maker Kellogg will split into three independent companies and make its snacks division its biggest focus. The Coco-pops maker said it would spin off its North American cereal and plant-based foods businesses. Names for the three companies are yet to be decided upon. Its snack company – which includes brands including Pringles, Cheez-It, and [...]
Watchdog set to review fees charged by Visa and Mastercard June 21, 2022 The UK’s top payments regulator has set out plans for two wide ranging reviews of Visa and Mastercard’s operations in the UK today amid concerns over soaring card fees.