Shein parks tanks on Boohoo’s lawn as UK sales pass £1.5bn ahead of IPO October 8, 2024 UK sales at Shein, the Chinese-founded online retailer on track for a bumper IPO on the London Stock Exchange, passed £1.5bn last year, the company has revealed. The division generated a revenue of £1.55bn for 2023, up from the £1.12bn it achieved in 2022. Shein also posted an annual profit of £18.7m, a significant rise [...]
Why Uber chief thinks electric cars are ‘just plain better’ October 8, 2024 Electric vehicles (EVs) are “just plain better”, the chief executive of Uber has claimed, as the ride-hailing app giant detailed plans to doubling down on accelerating to be fully electric in the UK. Dara Khosrowshahi made the comments as he spoke at Uber’s annual green event at the Science Museum in London on Tuesday. The [...]
Why Georgia’s capital Tbilisi is the most fascinating city in Europe October 7, 2024 Towering over the Georgian capital of Tbilisi is Mtatsminda Park, a Soviet-era fairground and gardens set atop a craggy hill. Accessed by a funicular railway, you will find a host of terrifying, creaky old amusement rides, including the 65-metre-high Giant Wheel, which seems to bow outwards over the edge of a sheer cliff. Dotted around [...]
Wedgwood owner slumps to loss despite strong Harrods and Selfridges sales October 7, 2024 The owner of historic fine china and porcelain brand Wedgwood has slumped into the red despite strong sales through Harrods and Selfridges. Fiskars UK, which is based in Stoke-on-Trent, is also behind the Waterford, Royal Doulton and Royal Albert brands. Newly-filed accounts with Companies House have revealed that the business fell to a pre-tax loss [...]
Ageas: Belgian insurer mulls UK takeover after failed Direct Line bid October 6, 2024 Belgian insurance giant Ageas is open to making further takeover bids for British companies after a failed attempt to snap up Direct Line earlier this year.
Online retailer Shein to hold roadshows soon ahead of London IPO October 4, 2024 Shein is set to hold informal investor meetings in the coming weeks for its planned London initial public offering (IPO), three sources with knowledge of the matter told Reuters, pushing ahead with preparations as it awaits UK regulatory approval. The China-founded online retailer plans to hold informal roadshows mainly across Europe, one of the sources [...]
Luxury retail might be struggling globally, but it’s thriving in London October 4, 2024 It’s somewhat surprisingly that luxury retail in London is doing so well, particularly given eye-catching figures about a wider downturn in the luxury market, the effect of the tourist tax, and the potential exodus of high-net-worth non doms from the capital. But while these “handicaps” – particularly the tourist tax – have hampered demand somewhat, [...]
China funds dominate September as London’s AIM slumps October 1, 2024 China funds dominated performance tables in September following Beijing’s economic pledges, while UK smaller companies funds sagged over rumours that taxes on AIM may rise. The average China fund grew by more than 16 per cent throughout September, with almost all that growth coming in the last week of the month. “The top 44 funds [...]
Will Aston Martin ever make it out of the slow lane? September 30, 2024 Aston Martin on Monday issued a profit warning, downgrading guidance for the year ahead and slashing its car production target by around 1,000.
Chinese stocks post best week since 2008 September 29, 2024 Chinese and China-focused stocks posted their best week since 2008 last week, with the CSI 300 index shooting up 15.7 per cent after strong economic stimulus measures were put in place by the country’s government. Every index tracking Chinese stocks benefited from the measures, with Hong Kong’s Hang Seng index rising more than 13 per [...]