By: Helen Cahill

I report on retail and property for City A.M. I have covered the investigation into BHS and London's housing crisis. You can email me on helen.cahill@cityam.com with tips or commentary.

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Kraft Heinz has wrong ingredient as sales drop 3.7 per cent

February 15, 2017

Kraft's share price fell in after-hours trading after its net profit missed forecasts. The figures Fourth quarter sales at the maker of Heinz ketchup and Kraft macaroni cheese fell 3.7 per cent, down from $7.12bn to $6.86bn. Read more: Bean there, done that: This is the Shard's newest tenant Net profit, however, increased year-on-year from $285m [...]
TripAdvisor’s shares fall after it misses revenue estimates

February 15, 2017

Shares in TripAdvisor have fallen in after-hours trading after a disappointing set of results from the company. The figures Revenue for the full year ending 31 December 2016 fell one per cent annually to $1.48bn. Net income was $120m, down 39 per cent year-on-year. Read more: The taxman has unveiled the UK’s most outrageous expenses [...]
Amazon Prime revenues reach £5.2bn

February 15, 2017

Amazon has published the figures for its Amazon Prime service for the first time, revealing that revenues for the subscription service have hit $6.4bn (£5.2bn). This means the service, which allows customers to access premium video content and faster product deliveries, lags behind Amazon's retail and web divisions. In 2016, Amazon Retail brought in $91.4bn [...]
Westminster becomes first council to request higher retention of business rates for £409m investment programme

February 15, 2017

Westminster council has become the first in the UK to urge the government to allow it to keep a higher proportion of its commercial property taxes. A conglomerate representing the West End has put in the application on behalf of the Westminster council and others, City A.M. can reveal. The West End Partnership (WEP), which represents [...]
Colliers International names London top city of influence

February 15, 2017

London remains one of the most influential cities in the world despite predictions that its status would be eroded by the Brexit vote. According to a report from Colliers International, London and Paris are the most attractive cities in Europe for businesses in terms of talent, cost and location. But as London's labour laws are more relaxed [...]
Debenhams outed for not paying nearly 12,000 workers the national minimum wage

February 15, 2017

Department store Debenhams has been outed for not paying its workers the national minimum and living wage. According to the department for business, energy and industrial strategy (BEIS), Debenhams underpaid 11,858 workers by £134,895 in total. Read more: Why the UK is falling out of love with fashion Debenhams said a payroll error has caused the problem and [...]
QinetiQ on track to make £106m profit target

February 15, 2017

Defence manufacturer QinetiQ's share price was flat today after it said in a trading update that its profits would be in line with expectations for the full financial year. The figures The defence contractor said it was on track to make profits of around £106m this year. It said its European revenues were "steady" and that [...]
Topshop logistics workers are going on strike

February 15, 2017

Workers at a Topshop logistics centre are set to on strike over wages. Employees at sites in Solihull and Leeds have voted to walk out on 24 February and 26 February. The action comes after staff at the Solihull hub went on strike in the run up to Christmas. Read more: Flopshop: Arcadia Group brand Topshop's sales [...]
Boiler breakdowns cost the UK £787m in bills last year

February 15, 2017

UK families were forced to pay out more than £787m in unexpected boiler repair bills last year. Nearly a fifth of households (18 per cent) faced at least one boiler breakdown in the last year, and the average cost of repairing it came to £270, according to energy price comparison website uSwitch. However, a quarter [...]
Trian takes $3.5bn stake in P&G

February 14, 2017

Trian Fund Management has disclosed that it bought a $3.5bn stake in Procter & Gamble, maker of Gillette razors and Crest toothpaste. The move makes Trian the second activist shareholder to become involved in the consumer products giant in the last five years, and it is now the largest stakeholder in P&G by some margin. Read [...]

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By: Helen Cahill

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