Foxtons faces yet another investor revolt over executive pay and share price June 7, 2021 Hosking Partners, which owns 11.2 per cent of Foxtons, has called for “board-level change” at the estate agent over concerns about its share price and its bosses pay. Jeremy Hosking, the boss of Foxtons’ biggest investor, wrote to chairman Ian Barlow to outline his dissatisfaction, the Times first reported. Hosking expressed frustration about the [...]
Warm weather and half-term tempts shoppers back to the high street June 7, 2021 The number of shoppers in retail destinations rose by 11.6 per cent last week, with a combination of warm weather, a bank holiday and half-term tempting punters back to the high street. The number of shoppers on the high street rose by 17.4 per cent last week, according to the latest data from Springboard, while [...]
Caffe Nero’s future called into question in the event of third wave of Covid-19 June 7, 2021 Caffe Nero’s future has been question in its latest company accounts, after a host of pandemic-related factors made the coffee chain’s future appear uncertain. A fresh wave of temporary closures and a legal challenge by landlords to a recent restructuring of the business have cast “material uncertainties” over its future, directors said it’s the Caffe [...]
Housebuilder stocks soar as property prices climb another £3,000 to new record high June 7, 2021 House prices in the UK rose again last month by around £3,000, bringing the average property price up to a record high of £261,743. May’s 1.3 per cent price increase means the average home in the UK has increased by more than £22,000 – or 9.5 per cent – in the last 12 months, according [...]
Tesco and Carrefour end three-year partnership June 7, 2021 Tesco and French retailer Carrefour will not extend their purchasing alliance beyond the three-year framework agreed in 2018. The deal between the two giants will formally end on 31 December 2021. Over the last three years, Tesco and Carrefour have enjoyed a number of joint buying opportunities across food and general merchandise, giving them each [...]
Reckitt to see £2.5bn loss from sale of baby formula business June 7, 2021 Reckitt Benckiser will incur a net loss of £2.5bn on the sale of its baby formula business in China to private equity group Primavera Capital Group. The consumer goods maker said taking into account all costs, including goodwill, it will lose £2.5bn with the sale. Reckitt is selling its infant formula and child nutrition (IFCN) [...]
UK holidaymakers warned of summer essentials shortage June 7, 2021 Summer essentials like garden furniture, picnic baskets and outdoor toys could be in short supply this year, with many British suppliers experiencing import delays this month. Around 60 per cent of British suppliers have experienced import delays, the BBC reported, with the Suez Canal blockage earlier this year partly to blame. Increasing global demand for [...]
UK ranks second in Europe for foreign direct investment June 7, 2021 The UK is ranked second in Europe for total inbound foreign direct investment (FDI), and is still expanding its share of the market. In 2020 the UK secured 975 projects from FDI, down 12 per cent from 2019’s 1,109 despite the pandemic, according to data from EY. France narrowly outranked the UK, securing 985 projects, [...]
Business confidence soars to seven-year high amid vaccine rollout success June 7, 2021 Business confidence in May hit its highest point since June 2014, driven by the rollout of the vaccine programme and further easing of lockdown restrictions. The BDO Optimism Index, which quizzes businesses to calculate optimism, jumped from 99.85 in April to 109.71 the following month, above the long-term average of 100. May’s optimism marked the [...]
Waterloo & City line re-opens ahead of schedule as tube use rises June 7, 2021 Waterloo & City line re-opens ahead of schedule as tube use rises
