Royal Mail’s share price fall on profits slump as turnaround continues May 19, 2016 Royal Mail's profits have fallen more than a third as the business ploughs money into the 500-year-old business' "transformation". The figures Adjusted revenues slipped one per cent to £9.25bn for the year to 27 March, while adjusted operating profits before transformation costs climbed five per cent to £742m. Royal Mail's margin fell 0.1 per cent to six per [...]
Burberry to axe its headcount as it warns of “challenging environment” that has sent profit and revenue lower May 18, 2016 Luxury retailer Burberry will cut jobs over the next three years as part of its turnaround plan. Chief financial officer Carol Fairweather said “some headcount reduction” would take place but declined to comment on specific numbers or where in the business the cuts would come. The company is targeting £100m of cost savings over the next three years. Burberry's share price [...]
Retail Acquisitions boss Dominic Chappell is being hauled in front of MPs over the £1 BHS deal May 18, 2016 The man who bought BHS for a £1 just over a year before it entered administration is to be hauled in front of the two committees investigating the retailer's demise, MPs confirmed today. The Business, Innovation and Skills committee and the Work and Pensions select committee – which are probing the handling of the sale of BHS [...]
Police call for witnesses after City A.M. distributor assaulted May 18, 2016 Police are appealing for witnesses after one of City A.M.'s newspaper distributors was assaulted last week. The attack took place on morning of Tuesday 10 May on Fish Street Hill by Monument Tube Station. A spokesman for British Transport Police said: “We are currently investigating after a man was assaulted at Monument station at around 7.40am on Tuesday, 10 May. “Enquiries [...]
Countryside says there has been no impact from tax changes or Brexit fears as it posts double-digit revenue and profit growth May 18, 2016 Housebuilder Countryside Properties's share price rose this morning after reporting double-digit rises in profits and revenues. The figures Adjusted revenues were up 24 per cent to £312.8m in the six months to 31 March, while adjusted proft soared 44 per cent to £50.8m. Adjusted operating margin also rose, up 220 basis points to 16.2 per cent. [...]
Queen’s Speech 2016: What to expect today, plus where to watch it May 18, 2016 From Brexit to Islamic extremism, prison reform and driverless cars, the Queen's Speech is expected to set out a whole raft of new measures from the government. The Queen's Speech is expected shortly after 11:30am, as the centrepiece of the State Opening of Parliament, a tradition that dates back to 1536. The proposals are expected [...]
You can’t have it all: The UK is one of the worst places to be a working mother in Europe May 18, 2016 Entire generations of women have been lied to about being able to have it all: a new report suggests the UK is one of the worst places to be a working mother in the developed world. A major new study of 18 countries in Europe and the US found that the cost of motherhood [...]
The CMA is right to place its faith in tech, not gimmicks May 17, 2016 The CMA has made a bold call in its retail banking market investigation, ignoring continued cries to break up banks and ban the prevalent free-if-in-credit current account model, and instead putting its faith in innovation. It correctly identified that the problems in the current account market start with customers’ difficulties navigating the market. But, perhaps [...]
Juice merger could be orange squashed after CMA warns of reduced competition and higher prices May 17, 2016 A merger between the country's two biggest suppliers of freshly squeezed fruit juice may have to undergo a thorough probe after an initial investigation found it could lead to higher prices for retailers and consumers. Hain Frozen Foods UK bought Orchard House Foods on 21 December, but they are the only two suppliers to supermarkets in the country [...]
House prices of the future: London will average more than £1m while properties in much of England will be worth more than £500,000 May 17, 2016 The average price of a home might feel eye-watering today – but by the standards of 2030, they'll seem positively good value. New research claims to have estimated how much prices will go up by across Britain – and all those skinny houses and over-priced garages suddenly look like bargains in comparison. Indeed, if prices [...]
