Shoppers offered shares: WeShop races towards IPO as British tech star launches world’s first community-owned e-com platform July 4, 2022 The world’s first community-owned social ecommerce platform has gone live, offering shoppers shares in the group every time they make a purchase. The new platform, launched by British tech star WeShop is launching itself, plans to give away up to 90 per cent of its business to shoppers, and aims to list on the Nasdaq [...]
Hospitality crisis: Fewer pubs in England and Wales than ever before with less than 40,000 for first time on record July 4, 2022 Fresh analysis that sheds light on the ruinous impact of the pandemic and soaring business costs shows this a.m. that there are fewer pubs in England and Wales than ever before. The total number of pubs dropped below 40,000 during the first half of 2022, a fall of more than 7,000 since a decade ago. [...]
High Street footfall nosedives by staggering 25 per cent with London commuters and foreign travellers not returning June 27, 2022 High street footfall fell 25 per cent in May, from the previous month, according to RSM UK’s analysis of the latest data from Datscha, published this morning. London continues to be hit by hybrid working with less workers commuting into the city, and international and business travel is still not back at full capacity. Whereas [...]
Fast-growing spectacles boutique Kirk & Kirk eyes UK-wide launch with chain of pop-up shops June 27, 2022 Kirk & Kirk – founded by husband and wife duo Jason and Karen Kirk 30 years ago – confirmed this morning it is planning to make its first “foray into retail” this autumn. The British eyewear designer favoured by celebrities including Robert Downey Jr revealed plans to launch a chain of pop-up shops after seeing [...]
Arts and crafts giant Hobbycraft’s expansion drift undiminished with new stores and recruitment drive planned June 27, 2022 Several new stories and a recruitment drive are on the agenda of arts and crafts retail chain Hobbycraft as the company confirmed this morning it plans to continue its expansion after a lift in profits for the past year. The company said its adjusted pre-tax profit for the 2022 financial year was £15 million, which [...]
Investors pile into real assets amid equity market turbulence June 26, 2022 Investors are piling into so-called real assets this year as equity markets plunge amid soaring inflation and rising interest rates, new data has revealed.
Law firms join forces to press claims on Woodford fund collapse June 15, 2022 Two of the law firms pressing claims over the alleged mismanagement of the now collapsed Woodford Equity Income Fund are looking to join forces in a bid to win redress for investors.
Atos chief exec leaves job after French IT firm sets out plans to split June 14, 2022 Atos chief executive Rodolphe Belmer today left his position as chief executive of the French IT consultancy, following a boardroom spat over plans to split Atos’ business into two separate, publicly-listed firms. The French exec, who only took on his new role January, is now set to be replaced by two new deputy CEOs, who [...]
London Metal Exchange faces second lawsuit this week after Jane Street sues over nickel trading fiasco June 7, 2022 New York trading firm Jane Street Capital has followed its Wall Street rival Elliot Management in filing a lawsuit against the London Metal Exchange (LME), over its decision to halt trading of nickel and cancel trades in March. The high-frequency trading firm is suing the LME for $15.3m (£12.2m), after the Hong Kong Exchanges and [...]
‘Back to business’ for City favourite T.M. Lewin after 120-year old menswear brand strikes rescue deal May 27, 2022 British menswear brand TM Lewin, for decades a favourite among workers in the Square Mile, told City A.M. this morning it is back in business. Announced six weeks after the heritage brand struck a rescue deal with TM Lewin Shirtmaker Limited, the company is relaunching solely online, for now. Established over 120 years ago, TM [...]