Easyhotel bidders secure takeover despite founder’s protests August 21, 2019 Real estate investors Ivanhoe Cambridge and Icamap have secured their takeover of Easyhotel, despite protests from founder Sir Stelios Haji-Ioannou. The bidders, who have formed a joint venture named Citrus UK, said they hold or have received acceptances for more than 50 per cent of the company’s voting rights. Read more: Easyhotel urges investors to [...]
Alibaba delays Hong Kong listing over protests August 21, 2019 Chinese e-giant Alibaba has reportedly delayed a $15bn (£12bn) Hong Kong listing, scared off by protests that have rocked the city for more than two months. There is no formal timetable for when the listing will happen, but the company may go to market in October, sources told Reuters. Read more: Softbank earns $11bn for [...]
Feeling the heat: Walmart sues Tesla after solar panel blazes August 21, 2019 In a clash of two of America’s best-known companies, Walmart has sued Tesla for alleged “widespread negligence” that led to solar panels made by the electric car giant catching fire. The supermarket behemoth has asked a court to force Tesla to remove the panels from more than 240 of its US stores after they were [...]
Walmart sues Elon Musk’s Tesla after fires blamed on its solar panels August 20, 2019 Retail giant Walmart is suing Elon Musk’s electric car and clean energy business Tesla alleging that solar panels it supplied were responsible for fires at seven of its stores, according to a lawsuit filed in New York today. The fires destroyed significant amounts of store merchandise and required substantial repairs, totalling hundreds of thousands of [...]
Sainsbury’s shares lifted by strong performance but hottest day fails to revive flagging grocery sales August 20, 2019 Sainsbury’s led FTSE 100 risers this morning following the news the supermarket had put in its strongest performance since November 2017. The supermarket put in the strongest performance of all the big four grocers, but still saw its market share slip 0.6 per cent over the past 12 weeks, according to Kantar data released this [...]
Customers click but don’t collect £228m of goods per year August 20, 2019 Click and collect services have been touted as a potential way of reviving ailing high streets, but customers are failing to collect £228m of ordered goods per year, new research has found. One in seven shoppers surveyed admitted to not collecting items they had ordered online, according to research by Barclaycard, which also found that [...]
Greene King shares surge 50 per cent on news of purchase by Hong Kong’s richest man August 19, 2019 Investors raised a glass to Greene King after the pub and brewery group agreed to be taken over by Hong Kong’s richest man in a £2.7bn deal. Shares shot up more than 50 per cent yesterday following the announcement that a subsidiary of CK Asset Holdings (CKA) will buy the entirety of Greene King’s shares [...]
Monsoon Accessorize chief executive Paul Allen quits August 19, 2019 Monsoon Accessorize’s chief executive Paul Allen has thrown in the towel after a troubled few months at the retailer which culminated in a wide-ranging restructuring. Allen announced this afternoon he will quit the fashion retailer after six years at the firm. Read more: Creditors approve Monsoon Accessorize rescue plan Monsoon has no intention to replace [...]
Safestore joins forces with Carlyle in Dutch takeover August 19, 2019 Safestore has joined forces with private equity giant Carlyle to buy a Dutch self-storage chain while making a £6.5m Heathrow acquisition by itself. The business will take a 20 per cent stake in M3 Self Storage for around €5m (£4.6m) when the deal is completed at the end of August. The deal, which is expected [...]
Food for thought: Restaurant numbers drop as Chinese, Indian and Italian cuisines struggle August 19, 2019 Chinese, Indian and Italian cuisine might be the staple of many Saturday night takeaways, but new evidence suggests that the beloved British favourites are bearing the brunt of a slowdown in the casual dining sector. Read more: Revealed: These 10 London restaurants have the best mobile reception An average of 18 restaurants have shut per [...]