HSBC signs global deal with City fintech startup Bud December 11, 2019 HSBC is to ramp up its efforts on Open Banking, following a global partnership agreement signed today with London fintech startup Bud. The banking giant took a significant stake in Bud earlier this year, after the startup helped HSBC launch mobile banking app Artha through its First Direct challenger brand. The deal will initially see [...]
Amazon strengthens dominance of UK e-commerce market December 10, 2019 Online retail giant Amazon increased its dominance of the UK e-commerce market this year, according to the latest research. Amazon boosted its market share from 28.8 per cent in 2018 to 30.1 per cent this year, accounting for $30bn in sales. Read more: Amazon nets Champions League rights The next largest player in the UK, [...]
Online retailer Koovs on brink of administration after failing to secure £6.5m funding December 10, 2019 India-focused online retailer Koovs announced it has applied for administration this afternoon after its biggest shareholder Future Lifestyle Fashions refused to invest an additional £6.5m into the company. London-listed Koovs saw its shares suspended today after it announced had been unable to secure alternative funding. Read more: Koovs hangs hopes on 2020 growth despite drop [...]
Amazon nets Champions League rights with German streaming deal December 10, 2019 Amazon has made its first move into European football streaming after snapping up the rights to show a package of Champions League games in Germany. The US retail giant today said it has secured exclusive rights to broadcast Tuesday night fixtures in the country for the 2021-2022 season. Read more: Amazon steps into Premier League [...]
Watches of Switzerland boosted by luxury watch demand in first half-year results since listing December 10, 2019 Watches of Switzerland said today that strong demand for luxury watches had helped it boost sales and profit in its first half-year results since floating in May. The high-end retailer said revenue grew 17 per cent to £428.7m in the six months to 27 October and adjusted profit before tax was up 112 per cent [...]
Lidl sales help it hit record stake in UK supermarket sector December 10, 2019 The biggest supermarkets shed yet more market share to discounters Aldi and Lidl in the three months to the start of December, new data out today reveals. The big four grocers saw their collective market share drop by over one per cent to 67.7 per cent as people delayed their Christmas shopping and Black Friday [...]
General Election 2019: The rail industry’s Christmas wishlist December 10, 2019 The rail industry is on the verge of the most precipitous change since John Major took it private 28 years ago – whether it likes it or not. On the one hand, the Conservatives are likely to tear apart the system which decides who runs each line – known as franchising – having grown impatient [...]
Exclusive: Chilango eyes restaurant closures as it prepares to launch CVA December 8, 2019 Chilango is considering shutting some of its restaurants as it fights to avoid administration. The stricken Mexican chain will launch a company voluntary arrangement (CVA) as soon as tomorrow, ahead of a crunch meeting with shareholders next week. Read more: Questions over Chilango’s future after burrito chain calls in restructuring firm RSM The controversial restructuring [...]
FTSE 100 opens higher as China tariff waiver raises hopes of trade truce December 6, 2019 The FTSE 100 bounced back in early trading today as China’s decision to roll back tariffs on some US exports raised hopes of a pre-Christmas trade war truce. London’s blue-chip index was up roughly 0.8 per cent to 7,195.1 points this morning as traders reacted to developments in Beijing. Read more: Global growth to pick [...]
Permanent job appointments fall due to political uncertainty December 6, 2019 The number of permanent job appointments dropped again last month as growth in the demand for staff fell to a ten year low due to political uncertainty heightened by the upcoming General Election. November’s drop in permanent appointments stretched the length of the decline to nine months, the longest period of contraction since the financial [...]