Business administrations soar 20 per cent October 30, 2019 Business administrations in England and Wales jumped 20 per cent in the third quarter, rising to the highest level for more than five years. In the third quarter the number of companies entering administration rose to 484 from 403 in the previous quarter. Company insolvencies rose 0.4 per cent on the previous quarter to 4,355 [...]
Mike Ashley hits out at competition watchdog over JD Sports probe October 30, 2019 Retail tycoon Mike Ashley has slammed the UK’s competition watchdog for its investigation into the merger between JD Sports and Footasylum, saying it has overstated Sports Direct’s share of the market. The Competition and Markets Authority (CMA) is investigating whether JD Sports’ £90m takeover of Footasylum could result in higher prices and reduced competition in [...]
London homes take longer to sell than other UK cities October 30, 2019 Property owners seeking to sell their homes in London could be forced two wait an extra two weeks compared to other major UK cities, as the capital suffers from weak market conditions. Residential properties now take 14.5 weeks to sell, more than one month longer than it took to complete a sale in 2016. Read [...]
Tesco unveils new Clubcard Plus subscription scheme October 29, 2019 Tesco has announced its new £96 per year subscription loyalty scheme is set to launch next week. The supermarket said Clubcard Plus, which offers customers 10 per cent off two shops worth up to £200 each per month, could save shoppers more than £400 a year. Read more: Analysts react to Tesco chief executive Dave [...]
Royal Mail urges union to rule out Christmas strike October 29, 2019 Royal Mail has pledged to enter into discussions with union members without preconditions if postal service workers remove the threat of strike action over the Christmas period. The company also said it will extend the life of the ballot result by the same amount of time as the pause on industrial action, meaning the union [...]
Mortgage approvals boosted as buyers rush ahead of Brexit October 29, 2019 Mortgage approvals were boosted last month as prospective buyers rushed to complete home purchases ahead of the 31 October Brexit deadline date. The latest figures from the Bank of England (BoE) showed mortgage approvals for house purchases reached 65,919 in September after falling to a three-month low of 65,681 the previous month. Read more: New [...]
Goals Soccer Centres calls in Serious Fraud Office October 28, 2019 Five-a-side football company Goals Soccer Centres has called in the Serious Fraud Office to investigate a case of potential accounting fraud. The firm has passed files of evidence to the authorities in the last ten days after Goals was forced to delist from the London Stock Exchange, Sky News reported. Read more: Sports Direct says [...]
Hammerson consults shareholders over executive pay concerns October 28, 2019 Property developer Hammerson is continuing to consult shareholders after two resolutions, including its remuneration report, faced investor backlash at the company’s latest annual meeting. The shopping centre landlord, which owns Birmingham’s Bullring, said that the remuneration report was approved by shareholders, but noted that 29.7 per cent of the votes were against the policy. Read [...]
New rules announced to help UK mortgage prisoners October 28, 2019 The City watchdog has removed barriers to help trapped mortgage customers switch to a better deal. The Financial Conduct Authority (FCA) today confirmed the introduction of new rules to help so-called mortgage prisoners, which are consumers who would benefit from switching but are unable to change to a more affordable mortgage despite being up-to-date with [...]
Britannia Hotels tops list of worst UK hotel chains for seventh year October 28, 2019 Britannia Hotels has been named the worst hotel chain in the UK for the seventh year in a row as guests slammed it for poor cleanliness and value for money. Customers gave the hotel chain, which has 61 venues across the UK, one star ratings in almost every category. Read more: Profit dips at Whitbread [...]
