Bank of England’s Sam Woods warns of crackdown on the City January 12, 2020 Deputy Bank of England governor Sam Woods has warned the City that it could face a crackdown by regulators as they try to ensure the financial system remains safe a decade on since the financial crisis. Woods – who is chair of the BoE’s Prudential Regulation Authority (PRA) which oversees lenders and insurers – told [...]
Crypto AM Awards 2020 January 10, 2020 Crypto AM Awards 2020 The inaugural Crypto AM Awards celebrated innovation and excellence, by awarding those recipients working within AI, Blockchain, Cryptocurrencies, Digital Assets and Distributed Ledger Technology (DLT). Impressions from the day Winners of the Crypto A.M. 2020 Awards Community Enhancement Award – CryptoCompare Service Provider Award – CMS Law Enterprise Blockchain Award – [...]
Selfridges’ Christmas sales boosted by vegan food and toys January 10, 2020 Selfridges enjoyed a five per cent growth in sales in the 24 days leading up to Christmas fueled by increasing demand for vegan food. The department store saw growth of 96 per cent in vegan confectionery sales, while a newly-launched vegan hamper sold out. Read more: Selfridges to open permanent cinema on Oxford Street The [...]
Lidl sales grow 11 per cent over Christmas period January 10, 2020 Lidl UK saw an 11 per cent increase in sales over the Christmas period, outshining bigger supermarket rivals, its latest trading update revealed today. The German discount supermarket group said it was the fastest growing bricks and mortar supermarket over the four weeks ending 29 December. Read more: Lidl sales help it hit record stake [...]
Retail CVAs decline as landlords push back against plans January 8, 2020 The number of retailers using company voluntary arrangements (CVAs) to rescue their businesses slumped last year due to backlash from landlords, as administrations spiked in December. The use of CVAs declined 24 per cent from 38 in 2018 to 29 in 2019 as landlords increasingly push back against rent cut requests by struggling retailers. Read [...]
The changing face of income January 8, 2020 Henderson High Income Trust celebrated its 30th anniversary in 2019, having launched in 1989. This was the same year that Tim Berners-Lee invented the World Wide Web. Given Henderson High Income provides shareholder with a high dividend income by predominately investing in UK companies, this article looks at how the internet has led the UK market [...]
Gracechurch developer bangs drum for a city with a ‘bright future’ January 7, 2020 As an overseas investor in the City of London, the election of the new Conservative majority government and the message it sends to people like me who are keen to invest in the UK economy is welcome. After three and half years of political turmoil, the UK can finally move forward as a country and [...]
Poundland owner lines up advisors for stock market listing January 7, 2020 The owner of Poundland is reportedly mulling a stock market listing that could value the discount retailer at about £3.4bn. Steinhoff International Holdings, the owner of Poundland’s parent company Pepco Group, is expected to appoint advisors in the next few days to support plans for an initial public offering (IPO), Sky News reported. Read more: [...]
Aston Martin shares fall as it warns annual profit will halve January 7, 2020 Aston Martin today warned annual core profit could halve as European sales weakened over its peak Christmas period. The struggling luxury car manufacturer told investors that annual earnings before interest, tax, depreciation and amortisation (Ebitda) will sink to between £130m and £140m. Read more: Aston Martin swings to £13.5m loss as it blames ‘soft’ UK [...]
Retail landscape will continue to evolve January 7, 2020 At first glance, the £50m deal to convert a north London retail park into a warehouse and logistics hub is a perfect representation of the forces upending an embattled sector. The relentless rise of online shopping and home delivery means plots like the Ravenside site in Edmonton, snapped up by warehousing giant Prologis, is worth [...]