Oasis world tour: Ticketing companies set for Champagne Supernova August 28, 2024 Ticketing companies are set for a Champagne Supernova of demand as legendary English rock band Oasis has officially reunited after a 15-year hiatus. The iconic Mancunian brothers, Noel and Liam Gallagher, who famously parted ways after a heated backstage bust-up in Paris back in 2009, have set aside their long-running feud to make an on-stage [...]
Temu owner PDD shares plunge after profit warning August 27, 2024 Shares in Pinduoduo (PDD Holdings), the Chinese owner of discount retailer Temu, have plunged by nearly 29 per cent in New York in a move that has wiped $55bn (£41.6bn) off the company’s market value. The steep decline followed a warning from management about an impending nosedive in profits, causing investors to reassess the company’s [...]
Ocado cements Coles partnership as Australian fulfilment centres open August 27, 2024 Online grocer Ocado has announced that its two fulfilment centres in Australia commenced operations in July after a year of delays. The centres, which will serve communities in Melbourne and Sydney via Ocado’s Smart Platform, were opened in partnership with Australian online grocer Coles. The partnership was signed in 2019 and has been subject to [...]
Hamleys: World’s oldest toy store closes 40 loss-making shops as sales fall August 27, 2024 Toy retailer Hamleys is hoping a new digital strategy will help turn around its falling sales after closing 40 loss-making stores last year. The brand’s holding company has reported a revenue of £51.4m for 2023, according to newly-filed accounts with Companies House, down from the £56.6m it posted for 2022. Over the same period, its [...]
Labour should not be taking inspiration from Kamala Harris August 27, 2024 Labour has a long-standing love affair with the Democrats, but while the Vice President’s plans for price controls by any other name may be popular, but they are economically illiterate, says Eliot Wilson It is hard to believe that barely a month has passed since Joe Biden announced he would not seek re-election in November [...]
FTSE 100 reshuffle: Burberry and Easyjet set to be downgraded August 23, 2024 FTSE 100 constituents Burberry and Easyjet are expected to be eliminated from London’s main market next month during a reshuffle. The main market’s quarterly rebalance is due on 20 September, with the review being based on prices at close on 3 September. Easyjet managed to claw back into the FTSE 100 in March, but the [...]
Shein uncovers child labour in its supply chain August 23, 2024 Fast fashion giant Shein has admitted it found two cases of child labour in its supply chain last year in a revelation that will likely fuel concerns in the City ahead of potential blockbuster float on the London Stock Exchange.
Ted Baker seller in the red as jobs cut and stores closed amid focus switch to Suit Direct August 23, 2024 A group which sells Ted Baker clothes across the UK slumped into the red as it significantly restructured itself to focus on its Suit Direct brand. As part of the move, Baird Group disposed of its license to sell Ben Sherman clothes, closed unprofitable stores, cut more than 100 jobs and appointed a new chief [...]
Former Fujitsu supplier Escher Group eyes London stock market comeback August 22, 2024 Escher Group, a former supplier to Fujitsu, the tech giant embroiled in the Post Office scandal, is reportedly planning a return to the London Stock Exchange after its delisting in 2018. The software company is working with bankers from Singer Capital Markets on a potential initial public offering (IPO) that could occur as early as [...]
The Hagen Project on hygge and the future of coffee August 22, 2024 The Hagen Project wants to do coffee differently: it has no menus on the walls, no customer facing fridges or retail products, and often no seating. Sometimes it is “the coffee machine and nothing else”, founder Tim Schroeder said. “You want to sell an experience, you want to sell an emotion, you want to sell [...]