Advertising watchdog issues ultimatum to retailers over faux fur January 17, 2019 The advertising watchdog has issued an ultimatum to retailers to ensure products they advertise as fake fur do not contain real fur. UK retailers have until 11 February to ensure their adverts are accurate, according to the Committee of Advertising Practice (CAP), which draws up advertising regulations. CAP warned firms may face sanctions if they [...]
November rise in first-time buyers getting on the housing ladder January 17, 2019 First-Time buyers bolstered the UK mortgage market in November, as competitive deals and schemes such as Help to Buy boosted the number of young homeowners in the run-up to Christmas. There were 36,200 new first-time buyer mortgages completed in November, rising 5.8 per cent from the same month in the previous year, according to UK [...]
Debenhams shares slide as Moody’s hands struggling retailer a negative outlook January 17, 2019 Debenhams’ share price slumped seven per cent in morning trading, after ratings agency Moody’s lowered its outlook for the beleaguered retailer from stable to negative. Concerns over the risks that creditors might incur when lending to the embattled department store chain were flagged by Moody’s, pushing shares in Debenhams down 7.26 per cent to 2.8p [...]
Patisserie Valerie exodus continues as deputy chairman steps down January 17, 2019 Patisserie Valerie has been burned further this morning by the walkout of its deputy chairman. Lee Ginsberg – a non-executive director at the beleaguered cafe chain, which is caught in a devastating alleged fraud – would resign with immediate effect, the company said in an update. Ginsberg had been chair of the audit committee at [...]
Theresa May to put Brexit ‘Plan B’ before parliament on 29 January January 17, 2019 Parliament is set to vote on Theresa May’s Brexit “Plan B” on 29 January, it was announced today. House of Commons speaker Andrea Leadsom confirmed the date this morning, saying MPs will debate the new plan as May sets out her next steps towards Brexit. Read more: Hammond rules out no-deal Brexit in business conference [...]
Eurozone inflation falls to eight-month low led by slower rise in energy prices January 17, 2019 Eurozone annual inflation fell to its lowest level in eight months in December, led by a slower rise in energy prices. The single currency bloc’s Consumer Price Index (CPI) met market forecasts as it dropped to 1.6 per cent from 1.9 per cent in November, the EU’s statistical office Eurostat said today. But the month-on-month [...]
Funding Circle beats revenue growth forecasts three months on from IPO January 17, 2019 Small business lender Funding Circle has beaten its forecasts for revenue growth and loans under management three months after a disappointing debut on the London Stock Exchange. The company hit revenue growth of 55 per cent in the fourth quarter of 2018, exceeding the 50 per cent guidance which was estimated at the time of its [...]
Game Digital shares boosted by positive Christmas trading in Spain while UK sales fall January 17, 2019 Video game retailer Game Digital’s shares shot up this morning as it announced a two per cent sales boost over the Christmas period, despite a drop in the UK market. The company said despite a “challenging retail climate” causing group sales to dip 0.5 per cent over the festive weeks from Black Friday to 5 [...]
Everyman cinemas on track as punters flock to picture palace January 17, 2019 Cinema chain Everyman Media today reported 2018 trading in line with expectations as it eyes a series of new openings. The boutique cinema group, which currently operates 26 venues across the country, said trading for the 52 weeks to 3 January was on track to hit forecasts. Read more: Chinese cinemas show bumper profits, but growth slows [...]
Government faces headache as Hitachi pulls out of £16bn Wylfa nuclear plant in Wales January 17, 2019 The government has reasserted it commitment to developing nuclear power after Hitachi pulled out of the Wylfa nuclear power plant this morning. The company took the decision to suspend work on the £16bn facility behind Hinkley Point C, which was meant to produce six per cent of the UK’s electricity, after holding detailed discussions with the [...]