FTSE 100 climbs as Sunak outlines post-Brexit financial services roadmap July 1, 2021 London’s FTSE 100 surged this afternoon as investors digested the Chancellor’s post-Brexit roadmap for the UK’s financial service industry. The capital’s premier index climbed 1.25 per cent in afternoon trading to reach 7,125. The rally came after Chancellor Rishi Sunak outlined plans to make the UK financial services industry more competitive on the global stage. [...]
JD Sports raises profit outlook and announces board change July 1, 2021 Britain’s largest sportswear group raised its profit outlook for the full year to “no less than” £550m in a trading update today. JD Sports said sales in the immediate period after lockdown reopening had been “particularly encouraging”. Most of the fashion retailers 3,300 stores around the world are now open, bar some in the Asia [...]
JD Sports to buy majority stake in Spain’s Deporvillage for €140.4m June 28, 2021 Sports retail chain JD is set to buy 80 per cent of issued shares in Spain’s Deporvillage, the retailer confirmed today, through its holding company Iberian Sports Retail Group (ISRG). The deal will be worth around €140.4m, of which €40.4m has been deferred and will be paid if the business performs well in the months [...]
Retail software firm Itim goes public in £48m London float June 28, 2021 Itim, a specialist software firm that provides services to retailers, has gone public through a £48m stock market float in London. The tech firm, which was founded in 1993 by veteran retail executive Ali Athar, will list today on London’s junior Aim market. Itim has raised £8m through the placing of 5,194,806 new ordinary shares [...]
Energy and mining stocks boost FTSE 100 June 25, 2021 London’s FTSE 100 climbed on Friday afternoon as surging commodity prices provided an uplift for energy and mining stocks. The capital’s premier index added 0.35 per cent to reach 7,134 in afternoon trading. The FTSE 100 looks set to register a weekly rise. Today’s gains built on yesterday’s session after investors reacted positively to the [...]
Commercial landlords threaten to sue government over eviction ban extension June 20, 2021 A raft of commercial landlords are considering launching legal action against the government after it extended its business eviction ban until March 2022. The British Property Federation, a lobby group for commercial landlords, is looking at all legal options as there is now an estimated £6bn in unpaid rents throughout Covid-19. Chief secretary of the [...]
Another adviser warns JD Sports shareholders on chairman’s pay June 19, 2021 Another leading adviser has added its name to group urging JD Sports shareholders to look at bonus payments for bosses, despite the retailer refusing to repay government support. Adviser IVIS has warned shareholders over votes on bonus payments and its future remuneration policy, Sky News first reported. Advisory service Glass Lewis has already issued [...]
Sports Direct to expand into Europe June 18, 2021 Sports Direct will expand into major UK and European, in part to take on rival JD Sports. Michael Murray, head of elevation at parent company Frasers, said Sports Direct would expand via both acquisitions and “incremental opportunities” to help built its presence at home and abroad, the Financial Times first reported. “We have a strong [...]
UK businesses pay £1bn of furlough money back to the Treasury June 17, 2021 British firms have paid back the government more than £1bn in previously claimed furlough payments, after weathering the Covid recession successfully. A Freedom of Information request, sent by the Financial Times, revealed that £709m of money claimed through the coronavirus job retention scheme has now been repaid to HM Revenue and Customs by businesses. Another [...]
JD Sports under fire for ‘inappropriate’ chairman bonus June 13, 2021 JD Sports is facing fierce criticism for paying bonuses to executive chairman Peter Cowgill despite taking tens of millions of pounds in government support. In a damning report shareholder advisory service Glass Lewis recommended that investors vote against the company’s “inappropriate” pay policy. It also said shareholders should oppose Cowgill’s reelection due to inadequate succession [...]