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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EasyJet shares drop after company posts lower profit guidance

October 6, 2016

EasyJet said today it expects profits to fall this year due to significant foreign exchange movements and a testing trading environment. The company's share price fell 6.8 per cent at the open. Profit before tax is expected to be in the range of £490m to to £495m, down from £686m in 2015 – a possible drop [...]
German defence minister warns UK against messing with EU security

October 6, 2016

German defence minister Ursula von der Leyen has warned the UK against getting involved in EU security matters. "The plea to the British is only not to block important European developments, when they say they want Brexit," von der Leyen told the Financial Times. "It is not good to prevent Europe from organising itself better." [...]
The City of London Corporation moves towards closing Bank junction to traffic by Spring 2017

October 5, 2016

Bank junction is set to be closed to all traffic apart from buses from Spring 2017. As part of the City of London Corporation's project "Bank on Safety", the six arms of the busy junction will be closed to traffic between 7am and 7pm on weekdays. The plan is to be put to the local planning and transport [...]
Five new retailers are opening shops in The Royal Exchange

October 5, 2016

The Royal Exchange is to become home to five new luxury brands. Aspinal of London, Grind & Co, Orlebar Brown, Halcyon Days and TD Tom Davies are taking space in the Grade I listed building. Oxford Properties bought the 16th century landmark in 2013 and this is the second set of retailers to move in [...]
ASOS boss says “it isn’t very practical” to be like an employer from the Victorian era

October 5, 2016

ASOS has kicked back against accusations of poor working practices in its Barnsley warehouse and has said the company looks forward to engaging with the government on the issues surrounding low paid workers. "The picture of an uncaring, secretive and exploiting employer from the Victorian times is false," ASOS said in a statement. "Actually, it isn't practical either. [...]
Cycle superhighways are causing traffic jams in the City

October 5, 2016

Traffic is building up in the City due to the introduction of new cycle superhighways, according to a report by the City of London Corporation. The superhighways have been put in by Transport for London (TfL) to make sure cyclists can move more safely through the City's busy roads, but the road system is still [...]
Topps Tiles share price slides after company warns on low consumer confidence

October 5, 2016

Topps Tiles said this morning that it had been hit by the fall in consumer confidence following the Brexit vote. After the company announced a slowdown in like-for-like sales growth to 1.4 per cent its share price slid more than six per cent. The sales dip was in part to due to a strategic change to [...]
Tesco’s pension deficit has more than doubled in six months

October 5, 2016

The market has responded positively to Tesco's new target for operating margin to move to four per cent by 2020, but Tesco also reported this morning that its pension deficit has more than doubled in six months. The deficit has risen from £2.61bn to £5.85bn due to exceptionally low bond yields, leaving the scheme's trustees in a tight spot. [...]
Analysts applaud Dave Lewis’ efforts to turn around Tesco

October 5, 2016

Tesco posted a 0.6 per cent increase in UK like-for-like sales this morning and analysts have been reacting well to chief executive Dave Lewis' efforts to revive the embattled retailer. And the market seems to agree with them, with the retailer's share price jumping nine per cent in early morning trading. Lewis has been managing [...]
Tesco posts increase in UK like-for-like sales but profit drops 28 per cent

October 5, 2016

Tesco's share price jumped nine per cent in early morning trading after it posted an increase in UK sales in its interim results. The company also confirmed its pension deficit has jumped by £3.2bn to £5.9bn "due to lower bond yields". The figures Tesco's like-for-like sales in the UK were up 0.6 per cent in the first [...]

Brits set for sharp rise in energy bills in July

MP calls on government to mandate for free-to-air Champions League final

Lazy Coffee is the best coffee in the City – this is how they do it

By: Helen Cahill

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