Monsoon Accessorize landlords ‘call for stake’ in retailer as CVA approaches May 30, 2019 Four property giants have reportedly offered to support a financial restructuring at troubled fashion retailer Monsoon Accessorize – but only if it gives them an equity stake in the firm. Read more: Retailer Monsoon Accessorize 'plans to close dozens of stores' across UK British Land, Hammerson, M&G Investments and Roubaix Group have teamed up to [...]
Government target ‘infeasible’ as smart meter rollout slows May 30, 2019 The government’s target of installing a smart meter in every home by 2020 is “implausible,” experts have warned as new figures show the rollout slowed last quarter. Just over 1m smart meters were installed in the first three months of the year, the Department for Business, Energy and Industrial Strategy confirmed today, a 6.7 per [...]
Bristol scaleup Ultrahaptics buys US augmented reality rival for $30m May 30, 2019 Bristol-based firm Ultrahaptics has acquired one of its main Silicon Valley rivals in a deal valued at $30m (£23.8m). Leap Motion, which specialises in hand-tracking technology, will join Ultrahaptics, bringing over its staff and technology to the combined group. The two companies had been partnered for almost six years before the tie-up. Ultrahaptics' technology projects [...]
Not clear UK has reached final verdict on Huawei, states US national security adviser May 30, 2019 US President Donald Trump’s national security adviser has said it is not clear the UK has reached a final decision on its policy towards Huawei. “I’m not sure that this decision has reached the prime ministerial level in final form. I mean we are still talking… people are talking back and forth,” John Bolton told [...]
Neil Woodford’s flagship fund drops £560m of assets in four weeks May 30, 2019 Veteran trader Neil Woodford’s flagship fund has lost £560m in assets over the last month following a prolonged period of underperformance. The Woodford equity income fund saw assets fall from £4.33bn in April to £3.77bn this week, according to data from Morningstar Direct. Read more: Analysts downgrade Neil Woodford flagship fund due to 'underperformance' Assets [...]
Netflix raises prices by 20 per cent as it blames $15bn production budget May 30, 2019 Netflix is raising the prices of some of its subscriptions by as much as 20 per cent as it prepares to ramp up investment in new TV shows and films. The streaming service is increasing the cost of its standard plan, which allows users to watch on two screens, by £1 to £8.99, while the [...]
US first quarter growth revised down to 3.1 per cent May 30, 2019 US first quarter economic growth was revised down slightly to an annualised rate of 3.1 per cent, according to the second estimate released today by the country’s Bureau of Economic Analysis (BEA). Read more: Global markets sink into the red as technology front opens up in trade war The annualised growth rate is nonetheless one of [...]
RMT rail union to stage five-day strike on South Western Railway in June May 30, 2019 Workers on the embattled South Western Railway (SWR) will strike for five days in June over a dispute with the role of guards on trains. The strike will take place from 18 June, rail union RMT said. The RMT has told its guards and drivers to not book on for duty for 24 hours on [...]
Deal or no deal: Where every Tory leadership candidate stands on no-deal Brexit May 30, 2019 Read more: Tory leadership race: Who are the leading candidates? With only one week left until Theresa May steps down as Conservative party leader, the race to become the new Tory bigwig currently has 11 candidates competing against each other. Now, almost three years after David Cameron resigned following the EU referendum, history repeats itself as [...]
Shares in Daily Mail owner jump on profit boost as streamlining strategy pays off May 30, 2019 Shares in Daily Mail and General Trust (DMGT) jumped as much as 10 per cent this morning after it posted strong growth in profit for the half-year. The Daily Mail owner reported a 19 per cent increase in adjusted profit before tax to £100m in the six months to the end of March, while revenue ticked [...]