Pound jumps past $1.24 on reports DUP could soften backstop stance September 13, 2019 The sterling surged through the $1.24 barrier on Friday morning on renewed hope of a Brexit deal following reports that the DUP could be willing to soften its stance on the Irish backstop. The pound rose by 0.6 per cent to hit a seven-week high despite the ongoing prorogation of parliament. It comes after a [...]
Focus on: Living by the River Thames September 13, 2019 Every September, the River Thames plays host to the Totally Thames festival; a month-long event which sees it taken over by art installations, history tours and performances. It’s a chance for Londoners to reconnect with the body of water that provides the backdrop to our daily lives, and make the most of some of the [...]
M&A activity targeting UK slumps amid no-deal Brexit fears September 12, 2019 Mergers and acquisitions (M&A) activity targeting the UK has fallen almost 40 per cent on the same period last year, with investors slowing down decision making amid ongoing political turmoil. Corporate M&A also tumbled to £15.1bn in the second quarter of 2019, its lowest value since the EU referendum according to data from Mergermarket. Read [...]
M&S launches urban farming scheme in London stores September 12, 2019 Marks & Spencer is launching an “urban farming” scheme in its London stores, the retailer announced yesterday. M&S Food has partnered with Infarm to grow fresh herbs – including basil, mint, parsley and coriander – at its branch in Clapham Junction. Read more: M&S’s FTSE exit is a symbol of its terminal decline The retailer [...]
Mike Ashley survives shareholder vote at Sports Direct meeting September 11, 2019 Mike Ashley emerged from today’s Sports Direct meeting relatively unscathed as shareholders voted to re-elect him as a director of the FTSE-250 firm. In total, 90.99 per cent voted to reappoint Ashley as a director and 9.01 per cent voting against. However, Ashley owns 61 per cent of the shares. Read more: Mike Ashley to [...]
City Moves for 11 September – Who’s switching jobs at Ovo Energy, RPC and Axiom Stone? September 11, 2019 Today’s City Moves includes Ovo Energy, RPC and Axiom Stone. Ovo Energy Independent energy provider Ovo Energy has appointed David Allison (pictured) and Rich Jones as technology director and product director, respectively. David joins following nine years at Hotels.com, where he was the senior director, technology. In his new role at Ovo, David will lead [...]
Warehouse and Oasis staff face redundancy as retailer cuts costs September 10, 2019 Warehouse and Oasis staff are under threat of redundancy as the retailer attempts to slash costs in a further blow for the struggling UK high street. Staff have been told their hours could be cut, in some cases by up to half, with some senior store positions demoted to sales advisor roles, City A.M. understands. [...]
Mike Ashley to face shareholder anger at Sports Direct meeting September 10, 2019 Retail tycoon Mike Ashley is preparing to face frustrated Sports Direct shareholders at a meeting tomorrow following a turbulent year for the business. The founder and chief executive of the sportswear retailer has come under fire from shareholder advisory groups in the run up to tomorrow’s annual general meeting. Read more: Mike Ashley makes move [...]
Selfridges to open permanent cinema on Oxford Street September 10, 2019 Selfridges will open a permanent cinema in its flagship Oxford Street store at the end of November, the upmarket department store said today. Read more: Cinema websites crash amid rush for Avengers endgame tickets The cinema is the result of a partnership between Selfridges and boutique cinema the Olympic Studios, which has movie theatres in [...]
Mace tasked with building £480m first phase of Nine Elms development September 9, 2019 Construction firm Mace has been tasked with building three towers as part of the major redevelopment of land next to the US embassy at Nine Elms. The contractor will be in charge of the first phase of the Nine Elms Square project, which involves building the towers as well as a podium for retail and [...]