Online retail acquisitions rise with high streets in decline October 28, 2019 The number of mergers and acquisitions (M&A) among online retailers rose markedly in 2019, new analysis has shown, as companies faced shareholder pressure to boost their web-based sales. Read more: Major UK retailers suffer plunging profit margins The number of M&A deals among UK online retailers rose to 12 in the year to June, City-based [...]
Wealthy UK cities showing resilience to retail downturn October 28, 2019 A group of wealthy cities such as London and Cambridge are faring relatively well during the UK retail sector’s downturn while shops in poorer and more rural areas suffer, a new report has said. Read more: Retailers brace for tough Christmas as confidence slumps Shopping parks have also shown resilience as the bricks-and-mortar retail sector [...]
MPs slam bank IT failures and float higher levies on sector October 28, 2019 MPs have harshly criticised IT failures among some of the UK’s biggest banks as “unacceptable” and recommended that regulators take action to make lenders improve their systems. Read more: TSB returns to growth after IT meltdown A detailed report from parliament’s Treasury Select Committee (TSC) said bigger levies on the financial sector could be used [...]
London’s Aim still well ahead of competitors despite rough year October 28, 2019 London’s Alternative Investment Market (Aim) remains by far the biggest growth stock market in Europe despite falling numbers of floats and questions over regulatory standards, new analysis has shown. Read more: Muddy Waters says Burford Capital ‘continues to evade key questions’ about its accounting In the year ending in September, £3.9bn of capital was raised [...]
Mike Ashley urges MPs to look into Debenhams collapse October 27, 2019 Mike Ashley has redoubled his efforts to have the collapse of Debenhams investigated and lambasted MPs for not being more interested in the failure of the high-street department store. Read more: Mike Ashley kicks off £4m takeover for Goals Soccer Centres In a letter to business select committee chair MP Rachel Reeves, seen by the [...]
UK rises up World Bank ease of business ranking October 24, 2019 The UK is one of the top 10 countries for doing business in the world, according to a new World Bank study, thanks to the ease of starting a firm, protection of investments and insolvency resolutions. Read more: UK economy close to recession after stagnant services sector data In the World Bank’s Doing Business 2020 [...]
Mario Draghi defends his record at final ECB meeting October 24, 2019 Mario Draghi defended his use of unconventional monetary policy today at his final rate-setting meeting as European Central Bank (ECB) president, where he left interest rates on hold at record-low levels. Read more: ‘Super’ Mario Draghi’s ECB odyssey comes to an end The ECB’s key deposit interest rate will stay at minus 0.5 per cent. [...]
UK mortgage approvals slip to six-month low October 24, 2019 The number of new mortgages approved by UK banks fell to a six-month low in September, survey data has revealed, suggesting Britain’s property market is slowing as Brexit uncertainty continues. Read more: UK house prices suffer slowest October rise since 2008 Banking trade association UK Finance said banks gave the green light to 42,310 loans [...]
‘Super’ Mario Draghi’s ECB odyssey comes to an end October 24, 2019 European Central Bank (ECB) president Mario Draghi will today chair the final rate-setting meeting of his eight-year tenure. If not quite a poisoned chalice, his successor Christine Lagarde is certainly being left with an unappetising cocktail. Read more: Mario Draghi’s ECB reign ends with Eurozone ‘close to stagnation’ Growth in the bloc is slowing towards [...]
Two highs and two lows of ‘Super’ Mario Draghi’s reign at the ECB October 23, 2019 Mario Draghi will tomorrow chair his final monetary policy meeting as president of the European Central Bank (ECB), bringing to an end a dramatic eight years in the job. Read more: Euro plunges as ECB president Mario Draghi signals more stimulus The Eurozone crisis, a long-running argument with Germany, and the US-China trade war are [...]
