Retail park sold in £50m deal for online warehousing space January 6, 2020 A retail park owned by M&G’s shuttered property fund has been bought for more than £50m to be converted into warehouses. The deal indicates the growing dominance of online retail which requires large amounts of warehouse space to service customers. The 128,000 sq ft Ravenside retail park in Edmonton north London was reportedly acquired by [...]
Chilango CVA: Creditors back rescue plan for struggling burrito chain January 6, 2020 Chilango’s creditors and shareholders have backed a rescue package to keep the struggling Mexican restaurant chain afloat, paving the way for the company to slash rents and exit some leases. Chilango launched a company voluntary arrangement (CVA) in early December, which was first reported by City A.M., in a bid to avoid administration. Read more: [...]
US firm Wiley buys London-based tech education company Mthree for £98m January 6, 2020 London-based tech education firm Mthree has been bought by US multinational John Wiley and Sons, in a deal worth $129m (£98m). Mthree trains up students and professionals looking to go into technology careers, and boasts a revenue of more than $50m. Read more: The top tech predictions for 2020 The company was sold by private [...]
Glimmers of hope for Pandora after shares jump as firm meets forecast January 6, 2020 Shares in Danish jeweller Pandora leapt 11 per cent today after the firm confirmed that it would meet its 2019 sales and profit guidance. In a trading update, the company said it expected like-for-like sales to fall four per cent in the fourth quarter and eight per cent for the whole of 2019. Read more: [...]
Boris Johnson tells Iraqi counterpart UK is ‘unwavering’ in support January 6, 2020 Boris Johnson has told the Iraqi Prime Minister Adil Abdul-Mahdi of the UK’s “unwavering” support for the country, in the wake of the killing of Iranian military leader Qasem Soleimani. Johnson and his counterpart held a phone call this morning, as the ramifications of the targeted US drone attack against general Soleimani continue to ripple. [...]
Brewdog opens first alcohol-free bar as dry January kicks off January 6, 2020 As millions of people give up alcohol for “dry January”, independent brewery Brewdog is set to give them a helping hand by opening its first ever alcohol-free bar today. The so-called AF bar, which is located on Old Street, offers 15 taps of draft alcohol-free craft beer – perfect for those who may have overindulged [...]
He had his hiccups, but Justin Thomas is back in a purple patch and hungry for more titles January 6, 2020 Justin Thomas played beautifully for much of his win at the Tournament of Champions in Hawaii on Sunday, but the world No4’s route to victory wasn’t without a few twists. It was quite a surprise to see Thomas finish his final round bogey-par-bogey, squandering the two-shot lead he’d held with three not particularly difficult holes [...]
Xerox secures $24bn financing for HP hostile takeover bid January 6, 2020 Printer maker Xerox has announced it has secured $24bn (£18.3bn) financing for its $33.5bn takeover offer for HP – a deal the computing giant is opposing. HP rejected Xerox’s $22 per share offer in November, saying it “significantly” undervalued the company. Xerox then took the proposal directly to HP shareholders. Read more: Xerox takes $33.5bn [...]
SMMT: UK car sales plunge to six-year low despite electric growth January 6, 2020 British car sales slumped to a six-year low in 2019, as widespread economic uncertainty put the brakes on an industry whose only glimmer of hope came in the form of record electric vehicle sales. New car registrations fell two per cent to 2.31m last year, according to the Society of Motor Manufacturers and Traders (SMMT), [...]
Eurozone investor morale hits highest point in over a year January 6, 2020 Eurozone investors started the new year in good spirits, a survey showed this morning, as morale grew for the third month in a row thanks in large part to positive developments in the US-China trade war. Research group Sentix’s morale index rose to 7.6 points in January from 0.7 in December, taking it to its [...]