London Amazon sellers generate £263m monthly revenue in e-commerce boom August 19, 2021 UK Amazon sellers now account for 5.5 per cent of the country’s retail sector’s monthly turnover. Some 13,483 Amazon sellers generate almost £2.5bn in monthly sales, according to analysis from online consumer goods company Trasio. This represented 5.5 per cent of the entire UK retail sector’s turnover in June. London Amazon sellers generate £263m revenue [...]
Inside the crazy, expensive world of whisky miniature collecting August 19, 2021 The founder of The Whisky Exchange is selling his collection of rare and old whisky miniature bottles. The collection will be sold as part of the quarterly miniatures and memorabilia auction at, live until Tuesday 24 August. Sukhinder Singh, who founded the global whisky retailer with his brother Rajbir in 1999, is putting four hundred [...]
Mastercard faces £10bn class-action lawsuit in UK August 19, 2021 A UK court has approved the UK’s biggest class action lawsuit of over £10bn against global payments processor Mastercard on behalf of 46m consumers, according to reports. The previously rejected lawsuit was formally certified on Wednesday to go to trial by the Competition Appeal Tribunal (CAT) in London. It will be the first mass claim [...]
Wall Street opens flat as investors await Fed minutes August 18, 2021 Wall Street’s main benchmarks opened broadly flat today as investors held back from making any sudden moves until after the publication of minutes from the Fed’s latest Federal Open Market Committee meeting. The blue-chip S&P 500 edged 0.07 per cent higher to 4,450.73 points, while the Dow Jones inched down 0.07 per cent to 35,321.59 [...]
Rail passengers to be hit with largest fare hike in a decade August 18, 2021 UK train passengers can expect the largest fare rise in a decade. Increases are usually linked to the previous July’s Retail Prices Index (RPI) measure of inflation, which was confirmed as 3.8 per cent for July 2021 by the Office for National Statistics today. No announcement has been made on what will happen to fares [...]
Electra Private Equity to rename as Unbound in hospitality demerger August 17, 2021 Electra Private Equity has reiterated its plans for a spin off of its hospitality brands and will rename the company Unbound Group. Restaurant brands TGI Friday and 63rd+1st will be split away under a new company named Hostmore, with shares given to Electra shareholders. The private-equity investment trust will be left with one remaining business, [...]
Weaker than expected retail sales drags Wall Street down August 17, 2021 US stocks edged down during the open today after official figures showed US retail sales were much weaker than expected in July. The blue-chip S&P 500 dropped 0.55 per cent to 4,455.46 points and the Dow Jones lost 0.83 per cent to fall to 35,328.87 points. The tech-heavy Nasdaq extended the traditional benchmark’s losses to [...]
The City will bounce back: Royal Exchange owners on the future of retail August 17, 2021 Is London over? There are plenty of doom-mongers ready to make that case after the pandemic flipped the world on its head. But for answers, it helps sometimes simply to follow the money. Two new skyscrapers approved recently for the City of London and occupancy increasing at pre-existing buildings like 22 Bishopsgate bode well. And [...]
Three companies that are on major hiring sprees right now August 16, 2021 If you’re currently on the lookout for a new and exciting job, we have some pretty good news for you. We’ve noticed a real spike in the amount of jobs popping up on our brilliant job board lately. Incredible companies in London (and beyond, if you feel like a new adventure) are on hiring sprees [...]
London’s newly-listed LendInvest scores £150m partnership with Barclays and HSBC August 16, 2021 Property finance asset manager LendInvest has announced a £150m lending collaboration with two of Britain’s biggest banks, just weeks after its £255m IPO on London’s AIM index. The new tie-up is geared towards financing UK property entrepreneurs and will see the British banks provide funding for short-term mortgages through LendInvest’s digital platform. It’s the first [...]