Burberry boss Christopher Bailey takes home £5.2m August 21, 2014 Burberry chief executive Christopher Bailey has pocketed £5.2m from share sales just weeks after shareholders rebelled over a controversial £27m pay package awarded to him this year. A regulatory filing yesterday showed that the luxury brand’s new boss exercised options on shares granted under previous award schemes. A spokesperson said the main reason for the [...]
Food spending falls for first time in 25 years as supermarkets wage price wars August 21, 2014 Spending on groceries has fallen for the first time since records began 25 years ago, laying bare the challenges facing Britain’s supermarkets in winning over cash-strapped shoppers. The amount spent in food stores fell 1.3 per cent in July compared with the same time last year, according to the Office for National Statistics, which put [...]
Russia and Thai tension drags UK tourist spending to five-year low August 21, 2014 Tourist spending in the UK has slumped for the first time in five years, after the Russia-Ukraine conflict and political unrest in Thailand deterred visitors from those countries. Figures published today by tax-free shopping specialist Global Blue showed that spending by overseas visitors fell by four per cent in the first six months compared with [...]
Endless Capital set to buy office2office August 21, 2014 PRIVATE equity group Endless Capital yesterday agreed to buy listed stationary-to-furniture office supplier office2office through a newly-created company called EVO Business Supplies. The Norwich-based company, which listed on the main market of the London Stock Exchange, is a major provider of business supplies and outsourced business solutions, primarily to large private and public sector customers. [...]
Primary Healthcare Properties hits £1bn August 21, 2014 PRIMARY Healthcare Properties’ (PHP) acquisition spree over the first half of the year has helped its property portfolio reach £1bn for the first time. The company, which develops and invests in new medical practices across the UK, said yesterday that its portfolio had increased by 4.3 per cent since December 2013, after adding a further [...]
Fashion wars… a Lidl bit of what you fancy August 20, 2014 The invasion of supermarkets into the fashion sector is hotting up after hard discounter Lidl announced yesterday it was entering the fray. The German retailer is to launch a new fashion range for women next Monday, including ankle boots for £9.99 and even a faux leather jacket for £15. Lidl already sells basic clothing such [...]
Heineken shares rise as World Cup helps to offset eastern woes August 20, 2014 Shares in Heineken rose nearly seven per cent yesterday after the Dutch brewing giant played down concerns over Russia and delivered better-than-expected beer sales in the Americas, Africa and the Middle East. The company said group beer volumes were up 3.1 per cent in the first six months, thanks in part to the World Cup [...]
Mamas & Papas strikes up talks with landlords to cut rental bill August 20, 2014 Mamas & Papas, the struggling upmarket nursery chain, has hired business advisory firm Deloitte to negotiate a company voluntary agreement (CVA) with landlords as it seeks to shed its onerous leases and turn itself around. Chairman David Scacchetti said its international business was performing well, but conditions on the UK high street were the toughest [...]
Work on building Walkie Talkie tower sunshade gets underway after Scorchie debacle August 20, 2014 Builders scaled the heights of the Walkie Talkie skyscraper in the City yesterday as work got underway to install “aluminium fins” that will prevent its windows reflecting ultra-bright rays and dazzling passers-by. Land Securities and Canary Wharf, the owners of 20 Fenchurch Street, are arming the southern facade of the tower with horizontal blades [...]
Lucky Voice karaoke bar sold by British Land for £26m August 20, 2014 British Land has sold the site of Martha Lane Fox’s Lucky Voice karaoke bar in London for £26m. The UK’s second largest property company said yesterday it had sold the freehold of 52 Poland Street to Amazon Property – a company unrelated to the online retail giant – in order to focus on other projects [...]
