FTSE 100 loses more than £200bn after worst week since 2008 as coronavirus fears grip global markets February 28, 2020 The FTSE 100 has shed a reported £206bn after suffering its worst week since the 2008 financial crisis as new cases of coronavirus pummelled global stock markets. London’s blue-chip index closed at 3.18 per cent down for the day to end a dire week for listed companies who have issued warnings on the coronavirus outbreak. [...]
Aston Martin finance chief quits as firm falls to £100m loss February 27, 2020 Aston Martin fell to a loss of over £100m today as the luxury carmaker announced it would use 2020 to “reset” the business in order to compete in the supercar market. The firm said that the release of the new DBX and Valkyrie models, which are scheduled for the summer, would be critical to fulfilling [...]
Walmart in talks to sell controlling stake in Asda February 26, 2020 Asda’s owner, the US retail titan Walmart, is in early-stage talks about selling a controlling stake in the UK supermarket, the two firms revealed today. Walmart, the world’s largest retailer, said the discussions had begun after “inbound interest” from a small number of firms. The announcement came just under a year after Asda’s planned £7.3bn [...]
Revolution Bars signals return to expansion as turnaround plan progresses February 26, 2020 Revolution Bars Group today signalled it plans to target expansion opportunities in the next financial year as it makes progress with its turnaround plan. The figures Revolution Bars Group posted a 20.5 per cent jump in adjusted profit before tax from £2.9m to £3.5m in the 26 weeks to 28 December. Group like-for-like sales increased [...]
February retail sales dampen hopes of post-election bounce February 25, 2020 Retail sales were broadly flat in February, according to the latest research, dampening hopes that the decisive General Election result has sparked a surge in consumer spending. The CBI’s monthly distributive trades survey showed that a net balance of one per cent of retailers reported a jump in sales volume in the year to February, [...]
Hotel Chocolat sales boosted by roll-out of new stores February 25, 2020 Shares in Hotel Chocolat are up nearly 10 per cent as its new locations helped deliver a double-digit rise in sales for the first half of the year. The figures Hotel Chocolat reported a 14 per cent increase in revenue to £91.7m, up from £80.7m in the comparable period a year before. Underlying Ebitda rose [...]
Islamic State supporter admits plot to bomb St Paul’s Cathedral February 21, 2020 A supporter of the Islamic State (IS) terror group has today pleaded guilty to plotting to bomb St Paul’s Cathedral and a hotel. Saffiya Shaikh, 36, from Hayes in west London, appeared at the Old Bailey where she admitted preparation of terrorist acts and dissemination of terrorist publications. Shaikh, who was born Michelle Ramsden, had [...]
Hornby eyes £15m raise for ‘solid foundation’ February 21, 2020 Model train maker Hornby is seeking to raise £15m today as it seeks a “solid foundation” to build on with brands like Airfix and Scalextric. It will do that by issuing almost 42m new shares at 36p each, with chief executive Lyndon Davies saying: “The strengthening of our balance sheet provides a solid foundation for [...]
The best cycling gear of 2020: Here’s how to get the most out of your ride February 20, 2020 The storms have passed, the skies are clearing and your excuses for not getting back on your bike are evaporating like so many brown puddles. Whether you’re commuting along cycle superhighways, or just looking to take your bike for a spin through the countryside, here’s our pick of the best (or most interesting) cycling gear [...]
Royal Mail shares jump on union pay proposals February 20, 2020 Shares in Royal Mail jumped this afternoon after it proposed a six per cent three-year pay deal to the Communications Workers Union in a bid to avoid strike action. The company’s share price increased 4.76 per cent after it announced its new pay proposals. Earlier this month Royal Mail said the union was preparing for [...]