Made.com ditches talks with potential buyers as struggling firm desperately seeks rescue October 25, 2022 Beleaguered Made.com has said it has terminated talks with all potential buyers after no party could commit to a suitable timetable for rescue funding. The homeware retailer had been looking to shore up aggregate funding of around £45-70m over the next 18 months as a stand-alone public company. Consumers have pulled back on spending on [...]
Exclusive: How London’s prime property financing space weathered Brexit, Covid and market mayhem October 24, 2022 Prime property finance is experiencing a boom in demand but battling falling prices. Yet, as the most resilient part of the market shows it can insulate itself from Brexit, the pandemic and current financial woes. While not immune from external shocks, its ability to recover faster than the rest of the industry makes it a [...]
Rumour mill: Musk takeover spells mass job cuts for Twitter staff October 21, 2022 Elon Musk has told prospective investors that he plans to axe nearly 75 per cent of Twitter’s staff, as the billionaire continues to push forward with a takeover deal. According to reports from the Washington Post, although HR teams have reassured employees that mass layoffs were not coming any time soon, documents showed that plans [...]
Tesco raises price of meal deal due to soaring cost of food October 21, 2022 Tesco has raised the price of its well-liked lunchtime meal deal for the first time in a decade as the cost of food soars. The supermarket giant said its meal deal “continues to represent excellent value” but soaring food prices has forced it to up the cost. Inflation is currently at 10.1 per cent while [...]
Booming oil and gas prices power Woodside Energy to record revenues October 20, 2022 Woodside is revelling in record revenues, powered by firmer energy prices and its merger with BHP Group's petroleum assets.
Truss won’t be the first or the last to U-turn, but she taught us how not to do it October 20, 2022 It has been less than four weeks since the disastrous mini-budget, followed by a series of screeching U-turns in government policy. It’s made for sickeningly compelling viewing, partly because most of us have, at times, experienced our own shocking about-turns and forced mea culpas. We can all relate. And the next 12 months look likely [...]
UK house prices rise by an average £36,000 in just 12-months October 19, 2022 The average cost of a home in the UK has risen by £36,000 in just 12-months, according to official figures, as homeownership falls further out of reach for many. The jump is more than the average Brits’ annual salary, and comes at a time when rising mortgage rates are acting as yet another barrier to [...]
Shares jump for housebuilders as stamp duty survives mini-budget u-turns October 17, 2022 Shares jumped for this afternoon after stamp duty cuts survived Jeremy Hunt’s mini-budget backtrack. Major players like Barratt Developments, Persimmon and Taylor Wimpey all saw their stock rally after the new chancellor’s emergency statement this morning. Barratt’s shares climbed nearly four per cent, whilst Persimmon and Taylor Wimpey were up nearly five per cent. Hunt [...]
Made.com receives non-binding proposals in rescue sale talks October 17, 2022 Made has said it has recieved “a number of” non-binding indicative proposals, as the online homeware retailer searches for a buyer amid tumbling sales. After reviewing the proposals, the board has invited” a select number of parties” to progress towards firm offers by the end of October, following a due diligence process, Made said on [...]
Dealmaker’s Spotlight: Evercore October 17, 2022 Datasite recently spoke with Alexander Asher, Vice President, Consumer-Retail Team at Evercore, to hear his thoughts and insights on market conditions, trends, and technology. Evercore is a premier global independent investment advisory firm. Founded in 1995, the firm has advised on over US$4.7 trn M&A and restructuring transactions. Headquartered in New York, it has 17 advisory [...]