Consumer spending growth falls as festive shopping fails to boost high street December 4, 2018 Consumer spending growth fell year-on-year in November to its lowest level since March as falling confidence continues to impact struggling retailers. Growth in consumer spending was just 3.3 per cent, dragged down by poor sales in the retail sector, according to new figures from Barclaycard. The figure is the lowest since March this year, when [...]
The Shard relaunches Western Europe’s highest light show December 3, 2018 The Shard’s Christmas lights are back with a bang this evening, transforming the top 20 storeys of the skyscraper into a festive light show. This year’s Shard Lights display sees London’s tallest building host a colourful 30-minute show running every half an hour from 4pm to 1am. The light show is based on the theme [...]
London Stock Exchange eyes Experian boss as new chairman December 3, 2018 The chairman of credit reporting company Experian is tipped to become the next head of the London Stock Exchange (LSE). Don Robert, who is a member of Court at the Bank of England, is the frontrunner to succeed the LSE’s outgoing chairman Donald Brydon, according to Sky News. Discussions between Robert and the LSE’s board [...]
Mike Ashley calls for online sales tax to revive high street December 3, 2018 Sports Direct billionaire Mike Ashley has urged the government to tax online retailers as he put up a spirited defence of his own retail operation in front of MPs today. In a fiery appearance in front of a parliamentary committee the retail tycoon said “web boys” that make over 20 per cent of their retail [...]
Shares in furniture retailer Dunhelm soar after broker upgrade December 3, 2018 Shares in home furnishings retailer Dunelm rocketed over 14 per cent after analysts at Peel Hunt upgraded their recommendation to buy. Peel Hunt said there are “clear catalysts for recovery” for the company next year, citing better brand awareness and improving online performance. The broker said Dunelm’s performance last financial year had been negatively affected [...]
Orchard Street snaps up £55m building in Soho’s filmland December 3, 2018 Property investment firm Orchard Street has snapped up a £55m Soho building home to a British film production company. The office space in the property at 141 Wardour Street is fully let to Moving Picture Company, while retail space on the ground and basement floors is home to Princi, an Italian restaurant and bakery part-owned [...]
Football fan club Otro nets £50m backing from 23 Capital December 3, 2018 Digital football fan club Otro has received backing worth tens of millions of pounds from venture capital firm 23 Capital ahead of its eagerly-anticipated launch today. Online platform Otro, which provides fans with curated content from global football stars, today revealed it had secured backing following weeks of growing speculation about the new site. City [...]
Consumers warned of Christmas cons as fake goods cases continue to rise December 3, 2018 Shoppers have been warned to be on the alert this Christmas as the number of court cases involving high value fake goods continues to rise. There have been 39 cases involving counterfeit goods worth more than £116m in the last two years, according to new data from KPMG’s Fraud Barometer. The research found that more [...]
Flybe and Monarch in bitter dispute over alleged breach of maintenance contract December 2, 2018 Beleaguered airline Flybe is locked in a war of words with Monarch Aircraft Engineering (MAEL) over a terminated maintenance contract. Exeter-based airline Flybe, which put itself up for sale last month, terminated a contract with the aircraft repair company for maintenance services. The airline has accused MAEL of breaching the contract by withdrawing its services “unilaterally”. “Flybe [...]
Embankment traffic harming 15,000 east London businesses, study warns December 2, 2018 Heavy traffic on the Embankment is causing serious economic harm to east London businesses, a new study has warned. Research by transport economists Volterra Partners revealed the removal of a traffic lane on the A3211, which runs between Westminster Bridge and Tower Hill, has significantly increased journey times. Volterra partners said increased congestion has meant [...]
