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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Columbia Threadneedle’s property funds become the latest to suspend trading

July 6, 2016

Columbia Threadneedle has become the latest firm to suspend trading on property funds. Both the Threadneedle UK Property Authorised Investment Fund (Threadneedle PAIF) and the Threadneedle UK Property Authorised Trust suspended at 12pm on Wednesday. It follows Aviva, M&G, Henderson, Standard Life and Canada Life in suspending trading on UK property funds. Read more: Fourth property fund suspension announced [...]
Aldi is hungry for a 10 per cent share of the grocery market

July 6, 2016

It's a tough time for supermarkets, but as the price war between the Big Four rages on, Aldi's UK chief executive says he is aiming to take a 10 per cent share in the grocery market. Speaking to City A.M., Matthew Barnes, Aldi's chief executive in UK and Ireland Matthew Barnes said: "We will have 10 per cent [...]
UBS says Burberry could get a Brexit boost due to the fall in sterling

July 6, 2016

Burberry may have been struggling with weak sales recently, but UBS reckons the luxury retailer could be set to benefit from the sharp fall in sterling following the Brexit vote. UBS upgraded Burberry's target price to 1,700p from a previous 1,550p and re-stated its "Buy" rating for the luxury brand, saying the "weak pound more than offsets [...]
MPs want the investigation into PwC’s audit of BHS to be extended

July 6, 2016

MPs inquiring into the demise of BHS want the investigation of PwC's audit of the company's accounts to be extended. The Financial Reporting Council's (FRC) investigation is looking into PwC's conduct in auditing BHS' accounts in the year ending August 2014, but Frank Field MP, chair of the Work and Pensions committee and Iain Wright MP, chair of the Business and [...]
Supermarket sell-off: grocers’ share prices fall as HSBC analysts predict Asda will cut prices

July 6, 2016

The big grocers' share prices fell today after analysts said Asda may cut its prices, trimming the industry's profits and intensifying the supermarket price war. HSBC analyst David McCarthy said: "We believe there are signs that Asda may be about to fundamentally reposition on price, bringing down sector profits. Read more: Traders betting against troubled supermarkets "Asda has been [...]
Topps Tiles stacks up sales growth as buyers opt for home improvements

July 6, 2016

Topps Tiles' chief executive said today that it was too early to know what the effects of Brexit will be as the company posted strong results. The figures Topps Tiles said like-for-like sales were up by 6.2 per cent for the 13 weeks to 2 July, compared to sales growth of six per cent in the same period [...]
Property companies’ share prices knocked again as Brexit hangover clings on

July 6, 2016

It's been a rough week for property companies – and this morning has been no different. The biggest firms' share prices have fallen off the wrong side of the bed again today as the big Brexit-hangover continues to plague the industry. Read more: Aviva and M&G become latest property funds to suspend trading as investors flee Housebuilders At [...]
Shop prices fell for the thirty-eighth month in a row in June

July 6, 2016

Prices at the check-out are still getting cheaper, according to data released today, providing some good news for households – but don't expect shopping baskets to remain cheap forever. Data from the British Retail Consortium (BRC) and Nielsen shows overall shop prices deflated by 2 per cent in June, compared to a 1.8 per cent [...]
John Lewis’ sales growth slowed after the UK voted to leave the European Union

July 5, 2016

John Lewis' sales growth slowed down in the week after the UK voted to leave the European Union, according to figures released by the company today. The department store's sales were 2.1 per cent higher than a year ago, at £90.8m, having climbed 7.3 per cent the week before when it started its summer sale. The [...]
Aviva and M&G become the latest property funds to suspend trading as investors flee the Brexit-battered industry

July 5, 2016

Two more property funds have suspended trading today as investors pull their money out of UK commercial property. M&G announced this afternoon that it was temporarily suspending trading in the shares of the M&G Property Portfolio. And earlier today Aviva suspended trading in its property fund, just after the Bank of England said this morning that it was [...]

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By: Helen Cahill

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