Trump makes history by stepping into North Korea June 30, 2019 Donald Trump has become the first sitting US president to set foot in North Korea, taking 20 steps into the country yesterday. After shaking hands with Kim Jong-un at the demilitarised zone (DMZ) between the two Koreas, Trump asked Kim if he wanted him to cross the border, saying: “I am OK with it.” Trump [...]
Apple’s tax bill slashed by more than half June 30, 2019 Apple’s tax bill for its chain of 38 stores across the UK more than halved last year, despite an EU mandate to pay back taxes and interest amounting to €14bn (£12.5bn). The Californian tech giant’s retail arm paid just £3.8m in tax in the 12 months to the end of September last year, falling from [...]
Jaguar to announce huge investment in UK electric car manufacturing June 30, 2019 Jaguar Land Rover (JLR) will plough hundreds of millions of pounds into the British car industry by preparing one of its factories to build electric cars, in a much-needed boost for the sector. JLR will modify its Castle Bromwich plant to build a series of three all-electric models, starting with an electric version of its [...]
Tories draw up new Brexit battle lines June 30, 2019 The Conservative party’s final two contenders for prime minister bulked up their plans for a showdown with Brussels over the weekend, while the frontrunner – Boris Johnson – also sought to talk up his pro-business credentials. Confronted about an incident last year in which Johnson said “f*** business” during a Brexit debate, the former London [...]
US lift of Huawei ban is not a general amnesty, warns top White House adviser June 30, 2019 US President Donald Trump’s decision to lift the ban on American firms selling to Chinese tech giant Huawei is not a “general amnesty”, his top economic adviser has warned. National Economic Council chairman Larry Kudlow said the move will only apply to products widely available around the world, with the most sensitive equipment still subject [...]
Creditors prepare to vote on Monsoon Accessorize rescue plan June 30, 2019 Creditors will decide the fate of Monsoon Accessorize this week as they vote on the company’s rescue plan, which includes proposals to slash rents at more than half of its leased stores. Last month the retailer launched a company voluntary arrangement (CVA), which outlined plans to cut rent at 135 of Monsoon and Accessorize’s 258 [...]
Hedge funds step up bets against retail landlord New River June 30, 2019 Hedge funds are betting against New River as concerns rise that it could be the latest retail landlord hurt by the industry’s struggles. The short position in the company has increased to 7.35 per cent compared to 5.41 per cent on 1 July last year, according to disclosed positions published by Shorttracker. Read more: New [...]
Sports Direct hits back at Goals Soccer Centres after heated AGM June 30, 2019 Mike Ashley’s Sports Direct has escalated its war of words with Goals Soccer Centres just days after coming to blows with one of the troubled firm’s directors at a tense investor showdown. The retail tycoon’s sportswear firm has launched a bombastic attack on a senior figure at the five-aside football operator today, having made a [...]
City lookahead: Analysts forecasting drop in sales at Sainsbury’s June 30, 2019 Sainsbury’s is expected to reveal a dip in sales when it posts its quarterly results later this week, as a spell of poor weather and an increasingly competitive retail market weighs on the supermarket giant. The grocery chain is forecasted to post no improvement in its sales on Wednesday, underlining the firm’s current challenges in [...]
WPP to sell stake in sports marketing firm Chime Communications June 30, 2019 Advertising group WPP is set to sell its stake in sports marketing agency Chime Communications in its latest move to slim down the business. WPP will sell its 25 per cent stake in Chime to US investment firm Providence Equity Partners, which holds the remaining 75 per cent, for £50m. Read more: WPP confirms sale [...]