How Asos’ post-pandemic debt led it to sell Topshop September 5, 2024 Three years after buying the British high street brands Topshop and Topman from Phillip Green’s collapsed Arcadia empire, Asos has said it will sell 75 per cent of its stake in the brands to a joint venture with Heartland. Asos bought the brands at a buoyant time for the company when its stock was near [...]
ABF: Primark owner powers through footfall slump to deliver solid growth September 5, 2024 Primark owner Associated British Foods (ABF) has reported a “significant improvement in profitability” despite a rainy summer threatening to dampen sales. The London-listed firm, which also owns Twinings Tea and a raft of food businesses, said it expected to see increased sales across its retail, grocery and ingredients divisions during its second half ending September [...]
Is there a Tufton Street of the left? September 5, 2024 With think tankers and campaigners being appointed to government, it’s tempting to think these secretive groups are calling the tune, but there are better ways to work out what Labour really thinks, says James Nation Over the last 14 years, there was a theory among some commentators that went something like this: yes, Conservative Prime [...]
Revolut to ‘aggressively’ double down on business accounts after surge in revenue September 4, 2024 The head of Revolut's business-to-business offering has said it is "aggressively doubling down" on the market, after the unit's global revenues exceeded $500m (£380m) this summer.
Should Larry the cat be worried by Starmer’s new kitten? September 4, 2024 Keir Starmer may not have won over business yet, but he’s at least managed a compromise within his own household, with the Prime Minister announcing the addition of a new kitten to 10 Downing Street following a summer of negotiations with his children (a German Shepherd had initially been demanded). The Siberian kitten – who [...]
Legal & General upsizes with lease for City HQ in new Woolgate building September 3, 2024 Legal & General has signed a 15-year lease to move its headquarters to Woolgate, a new building set to open on Coleman Street. The move will see Legal & General hopping just down the road, from One Coleman Street to 10 Coleman Street. It will also be a slight upsizing for Legal & General, going [...]
‘The mood change is palpable’: UK firms feel Labour lift despite looming tax raid, says Peel Hunt September 3, 2024 The UK economy is “rebounding solidly” and the City of London is reaping the benefits of the Labour government’s ‘growth agenda’ despite fears of an looming round of swinging tax cuts, one of the Square Mile’s top investment banks has said.
John Lewis has ‘no plans’ to cut more jobs September 1, 2024 John Lewis has branded claims it is planning to cut more jobs and restructure its management team as "wholly inaccurate".
Canary Wharf owners look to sell stake in shopping malls as office portfolio struggles September 1, 2024 Canary Wharf's owners are reportedly in talks with third parties to sell a stake in its four underground shopping centres as the banking district's office portfolio struggles with working from home trends.
Easing inflation helps retail footfall in August despite riots August 30, 2024 Retail footfall in the UK was boosted by good weather and easing inflation in August, despite the effect of the violent riots which erupted earlier in the month. Total UK retail footfall fell by 0.4 per cent in August year-on-year, compared to an annual drop of 3.3 per cent in July, according to the British Retail Consortium (BRC). It’s [...]