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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Canada Life re-opens its property fund as the commercial property market shows “stabilisation” after the Brexit vote

September 1, 2016

Canada Life has re-opened its commercial property funds after investors withdrew cash in the wake of the Brexit vote – but the firm has admitted its property valuations may be inaccurate due to current market conditions. When investors scrambled to take out money from property funds at the end of June, Canada Life and several other firms were [...]
McColl’s announces sales drop after acquisition of stores from the Co-op

September 1, 2016

Convenience store company McColl's share price edged down this morning after it announced a drop in sales. The figures McColl's said like-for-like sales for the 13 weeks to 28 August were down by 1.8 per cent and total revenue was up 1.8 per cent for the quarter. Sales in McColl's newsagents performed particularly badly, down by [...]
The UK’s “disappointing” energy suppliers are getting worse

September 1, 2016

The difference between the UK's best and worst energy suppliers is becoming more pronounced, according to Citizens Advice. When it comes to dealing with customer complaints, the best performing supplier, SSE, was 80 times better than the worst, Extra Energy. The quarterly results are calculated based on how long it takes for energy suppliers to resolve [...]
Waitrose’s sales were boosted by the summer sun last week – but John Lewis stayed in the shade

August 31, 2016

The warm weather boosted Waitrose's sales last week – but sister shop John Lewis failed to cash in on the summer sun. Excluding fuel, total sales at Waitrose were up 8.2 per cent on last year. The retailer said both the good weather and generous promotions were responsible for the sales lift – barbeque product [...]
Ex-Tesco finance chief cleared over accounting scandal

August 31, 2016

Tesco's former finance chief Laurie McIlwee has been cleared by the Financial Reporting Council (FRC) over the supermarket's accounting scandal two years ago. The FRC was investigating McIlwee after it emerged in 2014 that the company had been overstating its profits in its accounts stretching back to 2012. McIlwee resigned his position as chief financial officer in April 2014, five [...]
Housebuilder shares climb on positive house price data

August 31, 2016

It's been a rough ride for FTSE 100-listed housebuilders since the EU referendum – but today's house price data from Nationwide is helping the builders' share prices climb back to levels seen before the Brexit vote. Nationwide said this morning house prices were up 0.6 per cent month-on-month in August, and 5.6 per cent year-on-year. Berkeley Group was on [...]
Here’s why government spending isn’t fixing the housing crisis, according to Shelter

August 31, 2016

The government is pouring money into schemes that boost demand for properties – but is failing to put enough cash into house building, according to research from housing charity Shelter. The current parliament has spent two thirds of its housing money – £28.7bn – on programmes such as the Lifetime ISA and Help to Buy, which [...]
Would-be Poundland owner Steinhoff is getting frosty about sterling

August 31, 2016

South African retail giant Steinhoff has warned that the slump in sterling after the Brexit vote could hit its businesses in Britain – including Harveys and Bensons for Beds. The conglomerate – which is attempting to buy Poundland – said the fall in sterling could have an "unfavourable effect when translating our businesses' earnings reported in [...]
Consumer confidence jumped up last month as shoppers refused to stay indoors during the summer heat

August 31, 2016

Consumer confidence has bounced back from a post-referendum dip, with Brits determined to “carry on shopping” in August. The closely-watched GfK consumer confidence index rose by five points in August, up from minus 12 in July to minus seven – with all the measures used to compile the index going up. Respondents' confidence about the general economy improved [...]
Sports Direct and Debenhams will be hardest hit by Brexit, according to Canadian bank RBC – here’s why

August 30, 2016

Debenhams and Sports Direct are likely to be two of the retailers hardest hit by Brexit, according to Canadian bank RBC, due to currency pressures and rising costs for the industry. The analysts predicted that disposable income in 2017 would be flat – as compared to growth of around five per cent this year – [...]

FCA boss takes aim at motor finance lenders and claims firms

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By: Helen Cahill

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