Apple knocks Amazon off the top spot to become world’s most valuable brand June 15, 2022 Tech giant Apple has pushed Amazon off the top spot to be the most valuable global brand, ranking higher than Google. Apple is set to become the first trillion-dollar brand, with a brand value of $947.1bn with plans to enter into the Buy Now Pay Later arena. Google shot up the rankings to second place, [...]
Ladbrokes owner Entain snaps up Dutch rival BetCity for up to €850m June 14, 2022 LADBROKES owner Entain snapped up Dutch online sports betting operator Betcity this morning for as much as €850m (£729m) as the betting giant continues its grand push into Europe. Entain said it would acquire the entire share capital of Betcity from Sports Entertainment Media BV for an initial consideration of €300m (£257m) and deferred contingent [...]
Warnings of a profit crisis for retailers as margins shrink in the past decade June 14, 2022 Retail profit margins will plunge to 5.1 per cent in 2022, the lowest level in a decade. Excluding the initial impact of the Covid 19 pandemic and related shop closures, profit margins will drop to the lowest level in a decade, down from 8.3 per cent in 2021. Some 57 per cent of UK consumers [...]
Theo Paphitis: Dragons’ Den star says the high street is going nowhere and neither is he June 14, 2022 Theo Paphitis is not in any hurry to hang up his boots. After decades running the show at companies from lingerie to stationery firms, one might be mistaken for thinking the Dragons’ Den star, retail titan and former Millwall chairman may be mulling a change of pace. However, Paphitis tells City A.M. he has “a [...]
First Group optimistic of returning bus passenger volumes amid takeover offer rejection June 14, 2022 Transport operator First Group has posted a £122.8m statutory operating profit from continuing operations while announcing a renewed national rail contract with the transport department for Great Western Railway. The new contract will commence when GWR’s current contractual agreement ends later this month, with a core three-year term to 2025. There will be an option [...]
Nights out: Revolution Bars on track for earnings ahead of market expectations June 14, 2022 Revolution Bars has said it is confident of posting earnings slightly ahead of market expectations after strong trading over the Jubilee bank holiday. The bar operator, which owns brands such as Revolucion de Cuba and Revolution, said it had seen a “continued strong performance” across its sites. “Whilst not being immune to the widely reported [...]
Delivery kitchen operator Peckwater Brands raises £15m in funding round led by pub giant Stonegate June 13, 2022 Delivery kitchen operator Peckwater Brands has clinched £15m in a Series A funding round, which was led by the country’s largest pub company. The funding round was led by Stonegate Group, with the pub chain taking a minority stake in the firm, for an undisclosed sum. Peckwater Brands helps restaurant chains build virtual brands that [...]
Thirty American candy shops on Oxford Street probed over tax dodging claims June 13, 2022 Dozens of American-candy shops on Oxford Street are being probed over claims they failed to pay £7.9m in business rates. Westminster City Council said on Monday that it had seized counterfeit and illegal goods amounting to a £474,000 sum over the past six months. The council told the BBC that the 30 shops under investigation [...]
Heathrow calls on aviation regulator to ‘protect services’ with favourable price cap June 13, 2022 Heathrow has urged the aviation regulator to “protect services and resilience levels” by setting a price cap favourable to the airport. “The last thing passengers want is a cut price plan that leads to the cancelled holidays, stress and ‘hassle’ seen at other airports,” the hub said in an update on Monday. The airport asked [...]
Go-Ahead shares surge after bus operator receives two takeover approaches June 13, 2022 Go-Ahead has seen its stock price surge after receiving two takeover approaches, which it said it was inclined to accept. The bus operator is the latest transport firm to be courted by international investors. Fellow coach company Stagecoach was snatched by German asset manager DWS Infrastructure in May while last week public transport titan [...]
