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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Arcadia paid BHS head office staff to “stem tide of resignations”

October 11, 2016

Arcadia paid £2m to staff in BHS' head office to keep them from leaving as the business collapsed into administration. In a statement, ex-BHS Darren Topp said nearly 100 people resigned in four weeks from the end of March 2016, and the money from Arcadia was used to "stem the tide of resignations". Read more: Insolvency Service [...]
The Pensions Regulator is seeking more power to stop another BHS-style pensions crisis

October 11, 2016

The Pensions Regulator (TPR) is seeking more powers to prevent another pensions crisis on the scale of BHS'. In evidence given to the Work and Pensions select committee, TPR has called for a mandatory clearance process for some corporate transactions, such as a company being sold when its pension scheme is underfunded, as was the [...]
Summer sun and price cuts drive best quarter for food sales since 2013

October 11, 2016

The food sector has had its best quarter of sales in two years, according to new figures. Like-for-like sales across all retail categories increased 0.4 per cent year-on-year in September, according to data from the British Retail Consortium (BRC) and KPMG. Read more: Rosé wine, gin and ice cream sales gave Waitrose a summer boost last [...]
Retail lobby group British Retail Consortium urges government to protect consumers from rising costs post-Brexit

October 10, 2016

The British Retail Consortium (BRC) has urged the government to secure a Brexit deal that avoids rocketing prices for consumers. Writing to Liam Fox, the secretary of state for international trade, the BRC said that the retail industry, as the UK's biggest importer, needs tariffs and import costs to remain low. Read more: Retailers in Mayfair [...]
Housebuilders and domestically-focused stocks hit by fears of hard Brexit

October 10, 2016

The aftershocks of sterling's flash crash last week are still being felt in the City with domestic stocks suffering in trading today. When markets opened in Asia on Friday, the pound fell six per cent in two minutes, a plunge thought to have been caused by automatic trading systems responding to comments by French President Francois [...]
People’s Bank of China sets renminbi fix at weakest in six years

October 10, 2016

The People's Bank of China (PBoC) has set the midpoint about which the currency can trade higher than 6.7 renminbi for the first time since 2010. Following the announcement, both the onshore renminbi CNY and the offshore renminbi CNH (which trades mainly in Hong Kong) came close to the six-year lows that they came to a [...]
Here’s what the Monopoly board of 2016 looks like

October 10, 2016

When Monopoly was created in 1935, the price tag for a Mayfair property was just £400 – but house prices have changed a lot since then. So if the Monopoly board was drawn up now, what would it look like? The cheapest parts of the board are still the same, but the average price on [...]
Make America Great Again: This is where you can buy Kenneth Bone’s red knit jumper

October 10, 2016

Forget Donald or Hillary, Kenneth Bone was the stand-out star of the US Presidential Election debate last night. In a sometimes shocking debate, Bone was an instant hit on Twitter when he raised the tone with an intelligent question about the candidates' energy policies. Read more: In quotes: The most shocking moments from the US presidential debate [...]
Help solve the housing crisis by leaving your house to your grandchildren, urges housing minister

October 10, 2016

Housing minister Gavin Barwell has said parents should leave their property and money to their grandchildren instead of their children. Speaking at a fringe meeting at the Conservative party conference, Barwell said his mother will be leaving her £700,000 Croydon home to her grandchildren rather than him and his brother. Barwell said such generosity from grandparents [...]
German exports rebound in August after Brexit vote bump

October 10, 2016

German exports returned to health in August after dropping in the month following the Brexit vote. Seasonally-adjusted exports from the country rose 5.4 per cent month-on-month in August, increasing from €97.1bn (£87.2bn) in July to €102.3bn last month. Read more: Merkel hits back at May with tough Brexit stance The rise comes after German exports suffered following the Brexit [...]

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By: Helen Cahill

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