Funds need to get smart: Why the future is in residential, not retail, assets December 17, 2019 Austrian-born architect Victor Gruen is widely recognised as the father of the modern shopping centre, designing the first purpose-built outside shopping mall called Northland Mall near Detroit in 1954. The post-war economic boom allied to the rapid rise in consumerism saw shopping centres become a global phenomenon. Such was the success of the Austrian-designed, American-born [...]
Ocado set to be crowned the FTSE’s most valuable tech giant December 17, 2019 Analysts have said Ocado has the vision to become the “Microsoft of Retail tomorrow” and transition into the FTSE’s most valuable tech giant. Once finalised, the decision by the Competition and Markets Authority (CMA) to de-designate Ocado as a retailer in August will make it the largest listed tech company in the UK by valuation. [...]
Sotheby’s wine business toasts record-breaking year December 17, 2019 Sotheby’s Wine toasted sales of more than $100m (£75.9m) for the second consecutive year in 2019, following a string of record-breaking auctions, as wealthy investors seek alternative asset classes. The auctioneer reported total auction sales of $118m in 2019, an increase of 20 per cent, in a year that saw Sotheby’s in London record its [...]
General Election 2019: Boris Johnson urges UK to ‘let healing begin’ December 13, 2019 This was a live blog, thank you for following along Read more: UK stocks and sterling surge as Tories triumph at pollsRead more: Election live: Who were the big MP casualties?Read more: UK housebuilders rejoice as shares rise after Tory win 04.30pm: Over and out! That’s it for today – we’re off to get some [...]
Superdry boss takes swipe at Black Friday as he launches brand revamp December 12, 2019 Superdry boss Julian Dunkerton today blasted the “madness” of blanket Black Friday discounting, vowing to reduce his company’s reliance on the sales bonanza next year. Dunkerton, who founded the struggling fashion chain in 2003, took a swipe at his rivals’ practice of slashing prices on their core ranges. Read more: Superdry swings to a £4.2m [...]
Has-beans? What Chilango’s CVA tells us about the struggling casual dining sector December 11, 2019 Mexican chain Chilango offers its customers a choice between three different types of salsa: mild, medium, or hot. Faced with those options, who chooses the middle one? This is – in a way – the conundrum facing the increasingly polarised casual dining sector. Nowadays, customers either want fast, cheap fuel, or they want a quality [...]
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 [...]