Burberry shares soar as customers welcome new designer’s collections July 16, 2019 Iconic British fashion brand Burberry boosted sales as new designs by creative chief Riccardo Tisci were snapped up by customers. Shares in the FTSE 100 firm were up 8.26 per cent this morning following the first quarter trading update. Read more: Burberry fails to stop the selling Retail revenue in the quarter to the end [...]
Activist investor pressures scandal-hit Gam over compensation July 15, 2019 Scandal-hit Swiss asset manager Gam Holding is facing pressure from activist investors to force suspended director Tim Haywood to pay compensation after the firm’s share price plunged last year. Czech Republic-based Krupa Global Investments, which owns a one per cent stake in Gam, has called for Haywood, who was fired in February, to compensate investors. [...]
Leicester Square’s Hippodrome Casino reports falling profits July 15, 2019 Leicester Square’s Hippodrome Casino saw profits halve last year as political and economic uncertainty dented gamblers’ confidence. Revenue slumped from £77.8m to £76.5m and operating profit dropped from £5.5m to £2.1m last year, according to the casino operator’s latest financial filings. Read more: El Dorado snaps up Caesars in major casino purchase Hippodrome, which is [...]
Recipe box company Gousto secures £30m funding July 15, 2019 Recipe box delivery company Gousto has secured £30m in a funding round led by London private equity firm Perwyn. Gousto will use the investment, which takes its total funds raised to more than £100m, to develop artificial intelligence technology. Read more: Gousto cooks up £18m funding and signs up body coach Joe Wickes The company [...]
Code-breaker Alan Turing revealed as new face of £50 banknote July 15, 2019 Scientist Alan Turing will feature on the new £50 note design, Bank of England governor Mark Carney announced this morning. Turing, the “father of computer science and artificial intelligence, was chosen from 989 characters nominated by the public during a six-week period. Read more: Why a British scientist will appear on the next £50 note [...]
Peugeot maker PSA Group sales plunge in first half July 15, 2019 Peugeot manufacturer PSA Group reported that sales plummeted in the first half of the year driven by poor performance in emerging markets. Sales fell to 1.9m between January and June from 2.18m the previous year as the company suffered a sharp decline in several regions. Read more: Peugeot marker PSA reaches deal to buy Opel [...]
UK house prices slip for first time this year as Rightmove hails buyers’ market July 15, 2019 UK house prices have slipped this month for the first time this year, signalling a buyers’ market in the second half of 2019. Prices have fallen by 0.2 per cent, or £656, on average, according to Rightmove’s House Price Index, published today. Read more: House prices surge in June Fewer properties are coming to market [...]
Retail footfall drops as June fails to hit 2018 temperatures July 15, 2019 Retail footfall fell again in June in the latest blow for the high street as cooler weather failed to live up to last summer’s heatwave. Retail footfall declined by 2.9 per cent in June this year compared to a dip of 0.9 per cent in 2018, according to the latest data from the British Retail [...]
Persimmon apologises over Help to Buy faults July 15, 2019 Housebuilding giant Persimmon has been forced to apologise to Help to Buy customers after it was revealed that new homes built by the company were riddled with faults. Persimmon builds more Help to Buy properties than any other developer but an investigation by Channel 4 found that one new build home had a total of [...]
British luxury fashion sales break £5bn barrier July 15, 2019 The British luxury fashion industry saw sales break through the £5bn barrier in the past year, driven by the rising popularity of newer, younger brands. Sales hit £5.25bn as designer brands established after 1990, such as Lulu Guinness and Stella McCartney, saw average turnover growth of seven per cent. Read more: Private equity firm buys [...]
