Marks & Spencer shares slip as clothing underperformance weighs on Christmas trading January 9, 2020 Marks & Spencer’s Christmas performance was weakened by poor sales in its menswear business, after the retailer ordered too many skinny jeans in the wrong sizes. The high street chain said it over ordered skinny and slim-fit mens’ trousers, under-bought regular fit jeans and had too many small sizes and not enough medium and large. [...]
Credit card giant Newday set to buy finance platform Deko January 9, 2020 Credit card issuer Newday has reportedly agreed to purchase retail finance platform Deko in a bid to boost its tech credentials. Newday has reached a deal to acquire Deko for up to £40m, depending on the tech provider’s performance, Sky News reported. Read more: ‘Worst year on record’ for retailers in 2019 If the purchase [...]
How exactly can Prince Harry and Meghan become financially independent? January 9, 2020 For most people the term “financially independent” means looking for a job after finishing high school or university in a bid to stop leeching off their parents. However, for 30-something-year-old Royals the reality is starkly different. Read more: Queen ‘disappointed’ with Prince Harry decision to step away from senior Royals Prince Harry and Meghan Markle [...]
PM Johnson urges Iranian President Rouhani to ‘end hostilities’ January 9, 2020 Boris Johnson told his Iranian counterpart there must be “an end to hostilities” during a phone call between the pair this morning. The Prime Minister spoke with Hassan Rouhani for around 20 minutes, to discuss the aftermath of the US killing of Qasem Soleimani late last week. “The Prime Minister underlined the UK’s continued commitment [...]
Northern Rail franchise on course for financial collapse in ‘a number of months’ January 9, 2020 The crisis-stricken Northern Rail franchise is on course for a full-scale financial collapse within months, according to transport secretary Grant Shapps. In a statement citing the franchise’s most recent financial information, Shapps said the franchise could only continue to run for “a number of months” before the government stepped in. Read more: Arriva-run Northern Rail [...]
Can the UK pull off a Brexit trade deal? The key dates for 2020 January 9, 2020 After nearly four years, today will see the UK take its first real step towards leaving the EU before negotiating a tricky Brexit trade deal. The Commons is set to vote for Boris Johnson’s Withdrawal Agreement Bill (WAB) after the Prime Minister emerged victorious from the December election with an 80-seat majority. But what happens [...]
Dunelm boosts sales despite shunning Black Friday January 9, 2020 Homeware brand Dunelm reported a jump in sales in the run-up to Christmas despite deciding not to take part in Black Friday discounting. Like-for-like sales increased five per cent in the second quarter while total growth, including the benefit of new stores, was 6.2 per cent following the launch of its new digital platform. Read [...]
Rathbone Brothers’ inflows decline sharply despite fund growth January 9, 2020 Investment manager Rathbone Brothers has reported a sharp drop in inflows during 2019, despite strong growth in its funds under management. At the end of 2019 Rathbone had £50.4bn funds under management and administration (FUMA), 14 per cent higher than the previous year. Read more: Rathbone Brothers buy Barclays Wealth personal injury business Net inflows [...]
Ofcom rolls out scorecards to compare phone and broadband deals January 9, 2020 Telecoms regulator Ofcom today launched a new initiative aimed at helping consumers compare offers from rival phone and broadband providers. The new performance scorecards will help Brits see which firms provide the best customer satisfaction, value for money and receive the fewest complaints. Read more: Ofcom to ban firms from selling locked mobile phones Overall, [...]
Four challenges Sharon White must address at John Lewis January 9, 2020 Incoming John Lewis Partnership boss Sharon White will have a big job on her hands when she joins the retailer next month, as this morning’s trading update showed. The department store issued a profit warning today and made the surprise announcement that John Lewis managing director Paula Nickolds will leave the partnership in February. It [...]