Trouble in store for House of Fraser as credit insurer pulls cover March 4, 2018 A credit insurer has pulled cover on House of Fraser, underscoring the difficulties faced by the department store following a disappointing set of Christmas figures. A spokesperson for House of Fraser said 20 of the business' 650 suppliers were affected by the credit insurer's decision. Those suppliers will now have to find new insurance, or [...]
Retail job losses could number 15,000 as industry strains under cost pressures March 1, 2018 At least 15,000 retail sector jobs have either been slashed this year or are now at risk as household names sink into administration, according to calculations by City A.M. Toys R Us and Maplin went into administration yesterday, putting more than 5,500 jobs in doubt. The double-whammy for the industry comes after fashion chain East [...]
Why Barnier should consider mutual regulatory recognition and a Brexit deal including financial services is essential for both the UK and the EU February 26, 2018 Would you believe me if I told you that Michel Barnier has recently said that “the EU and the UK agree on the overall objectives of sound and resilient banks and financial markets? “It would be nothing short of a disaster if our agreements on broad principles are undermined by the detailed rules and their [...]
Cryptocurrency founder has a wise head on young shoulders February 20, 2018 As sales pitches go, it’s an unconventional one. In fact it’s more warning than advert, but you can’t argue with the logic behind it. The tweet was as stark as it was short: “Cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time.” So wrote Vitalik Buterin, the [...]
Beware the cryptocurrency hype February 20, 2018 Those who cannot remember the past are condemned to repeat it, as philosopher George Santayana famously wrote. What’s happening in markets today is a stark reminder of the dot-com days at the end of the last millennium, when company valuations rocketed at the mere mention of internet-related buzzwords. Fortunes were made and lost in relative [...]
Majority of big banks failing Mark Carney’s climate change requirements February 15, 2018 The world’s biggest banks are failing to take climate change seriously in their business plans, as demanded by regulators, according to research to be published today by a large investor group. Less than half of the 59 international banks surveyed by Boston Common Asset Management have carried out a scenario analysis for if global temperatures [...]
Swansea thrash Notts County as Millwall miss out on chance to face Tottenham in FA Cup fifth round February 6, 2018 Improving Swansea avoided an FA Cup shock in ruthless fashion after taking their place in the fifth round by dispatching League Two high-flyers Notts County 8-1 at Liberty Stadium. On-loan Chelsea striker Tammy Abraham and Nathan Dyer netted twice, while former Tottenham duo Kyle Naughton and Wayne Routledge, Tom Carroll and Daniel James also registered. [...]
Leisure spending to hold up in 2018 but fails to give boost to struggling eating out industry February 6, 2018 Leisure spending will hold up in the UK this year as millennials flock to the pub. Consumers reported that they expected to spend more on enjoying themselves in 2018, according to Deloitte’s quarterly survey. Spending held up in the final quarter of 2017, especially amongst millennials who drove a resurgence in spending at pubs and [...]
Britain’s big banks decline to follow Lloyds lead on bitcoin credit card bans February 5, 2018 Lloyds Banking Group has banned customers from buying bitcoin and other cryptocurrencies using credit cards, but other big British banks say they currently have no plans to clamp down on the risky assets. A wave of lenders around the world have placed restrictions on customers using debt to buy digital currencies, including JP Morgan Chase, [...]
Who killed Toys ‘R’ Us? February 5, 2018 Toys ‘R’ Us, the $6.9bn (£5bn) toy-store chain, became one of US retail’s biggest-ever bankruptcies when it filed for so-called ‘Chapter 11 protection’ last September. Market watchers were quick to point the finger of suspicion at Amazon. But is that right? In the spirit of Agatha Christie, we ask: who killed Toys ‘R’ Us? In [...]