Takeaway.com boss has no plans to increase £4.3bn Just Eat bid November 13, 2019 The chief executive of Takeaway.com has said the company does not intend to increase its £4.3bn bid for food delivery app Just Eat, despite South Africa’s Prosus tabling a larger, unsolicited offer. Jitse Groen said he would not sweeten the bid for Just Eat in a bidding war with Prosus, which has made a cash [...]
Wetherspoon boss Tim Martin launches attack on City regulators November 13, 2019 JD Wetherspoon boss Tim Martin lashed out at proxy advisor Pirc this morning, branding the firm’s recommendations to shareholders unhelpful to “business and the country”. In a wide-ranging attack on corporate governance, Martin slammed Pirc’s advice as “toxic” and called major Wetherspoon shareholders Columbia Threadneedle and Blackrock “hypocrites”. Read more: Wetherspoon faces backlash over Brexit [...]
Mulberry losses widen in ‘promotion led’ UK high street November 13, 2019 Luxury handbag retailer Mulberry widened its losses in the first half of the year as it struggled in the UK’s “increasingly promotion led” market. The company reported a loss before tax of £9.9m compared to a loss of £8.2m the previous year, reflecting the retailer’s British high street woes and its increased investment in Asia [...]
Coca-Cola HBC’s revenue fizzes up in third quarter despite bad weather November 13, 2019 Shares in Coca-Cola HBC have risen this morning after the Coca-Cola company bottler reported an increase in revenue for the third water despite poor weather dampening volume growth. HBC’s net sales rose five per cent during the three months to the end of September compared to the same period last year. Read more: Coca-Cola’s advertisement [...]
UK inflation falls to near three-year low as energy prices are capped November 13, 2019 UK inflation fell to its slowest rate in almost three years in October, official figures showed today, as growth was held back by the energy price cap. Read more: UK suffers biggest fall in jobs in four years The consumer price index (CPI) – a gauge of how much prices have risen over the year [...]
British Land widens losses in challenging retail market November 13, 2019 British Land reported widening losses in the first half of the year, driven by a fall in value in its retail portfolio amid a string of store closures and rent reductions. The figures Underlying profit fell 10.1 per cent to £169m and the company’s loss after tax increased from £48m to £404m. Read more: British [...]
Unilever chairman to step down with immediate effect November 13, 2019 Unilever’s chairman has stepped down from the role with immediate effect in a surprise departure from the dual-listed Dutch consumer goods giant. Non-executive director Nils Andersen will replace Marijn Dekkers, who has served in the role at the Marmite and Dove soap maker since April 2016. Read more: Heinz and Unilever adverts found on Pornhub [...]
£2.9bn of investment planned for Oxford Street by 2022 November 13, 2019 Oxford Street and the surrounding area is set to receive a total of £2.9bn in investment over the next two years, according to a new report. Westminster City Council has committed to investing £150m up to 2023 to transform the area, including a proposed public piazza at Oxford Circus, a public square at Marble Arch [...]
B&M shares dive as German unit put under review November 12, 2019 Shares in B&M fell more than seven per cent this morning as the bargain retailer launched a strategic review of its German business Jawoll to determine the future of the poorly performing unit. The figures The company’s overall pre-tax profit plunged 70 per cent to £32.2m in the first half, after its balance sheet was [...]
New Look losses shrink despite dip in sales November 12, 2019 New Look narrowed its losses in the first half of the year, despite a decline in sales caused by the ongoing challenges facing the UK high street. The figures The retailer reported that its statutory loss before tax was £11.2m, compared to a loss of £41.9m in the first half of last year. Revenue fell [...]