‘Feeding time’: Why one retail group is on the hunt for distressed operators June 4, 2023 A business group which rescued upmarket chocolatier Montezuma from collapse has said it is looking to continue on its acquisition spree – noting that the current tough trading climate is “feeding time” for stronger players in the market. “In recent years, there have been so many distressed businesses that we have been able to pick [...]
‘Can’t come soon enough’: Will Sunak follow through on 2p tax cut reports? June 4, 2023 Rishi Sunak’s mooted plans to reduce the tax burden from a seven-decade high with a 2p cut in income tax ahead of the next election have been welcomed by Tory campaigners. Reports surfaced in the Sunday Telegraph that the PM – an ex-City banker – is keen to cut charges in order to incentivise work [...]
Ex-CBI chief Tony Danker considers suing scandal-hit lobby group over dismissal June 4, 2023 Former chief of the Confederation of British Industry is considering suing the scandal-hit lobby group after he was dismissed from the top job as the group became embroiled in a sexual misconduct scandal.
E-bikes and scooters could disappear from UK without Government action, warns industry June 4, 2023 Delays to legislation covering electric bikes and scooters is preventing manufacturers from expanding in the UK, and could even see them leave the British market altogether if new rules aren't passed soon, the government has been warned.
Asos approached in £1bn takeover bid by Turkish fast fashion peer June 4, 2023 A Turkish retailer backed by Chinese e-commerce giant Alibaba has reportedly offered a £1bn bid to take over Asos, in a fresh knock of confidence for the future of the digital fashion brand. Trendyol, an up-and-coming fast fashion retailer, was understood to have approached Asos in late December, when the brand was facing dwindling sales [...]
Simply Be and Jacamo owner hopes for a rebound after bumpy few months June 4, 2023 Investors in online retailer N Brown will be looking for signs of recovery in its full year results this week after the firm paid out a hefty legal settlement and has struggled amid a broader slowdown in consumer spending. N Brown, which owns brands such as Simply Be and Jacamo, reported a 7.6 per cent [...]
Wizz Air to report heavy losses after fuel price spike – but is a recovery on the horizon? June 4, 2023 Analysts expect Wizz Air to report a net loss of nearly half a billion pounds this week as soaring jet fuel costs weigh the budget airline down. Aarin Chiekrie, equity analyst at Hargreaves Lansdown, said while a strengthening Euro offered some relief to rising fuel costs, “these still rose by north of 60 per cent [...]
House prices to stutter after Bank of England interest rate hikes June 4, 2023 House price growth is poised to stutter, new figures out this week are expected to show, as prospective homeowners are gradually priced out of the market by the Bank of England’s successive interest rate rises.
Paragon Bank set to deliver strong results as interest rates rise June 4, 2023 Paragon Bank is set to post another strong set of results this week as analysts expect the FTSE 250 lender to benefit from rising interest rates.
Epsom Derby: 19 animal rights activists arrested ahead of plans to disrupt event June 3, 2023 Nineteen activists have been arrested ahead of plans to disrupt the Epsom Derby on Saturday, police said. The group Animal Rising accused Surrey Police of “abusing” their powers after 19 people were arrested on Saturday morning based on intelligence received by officers. A spokesman for the force said 11 people were arrested at addresses in [...]
