Landsec chief executive Robert Noel to retire July 11, 2019 Landsec chief executive Robert Noel is set to step down next year, the property giant announced today. Noel will retire after ten years at the firm and eight in the chief executive role after he joined Landsec as managing director of the London portfolio in 2010. Read more: Landsec: A tale of two portfolios He [...]
FTSE 100’s best and worst performers in 2019 so far July 10, 2019 By Graeme Evans from interactive investor. The blue-chip index jumped over 10 per cent in the first half of this year, but which one surged 68 per cent? It’s been a year of widespread and significant gains in the FTSE 100 index, with blue-chip stocks surging by as much as 68 per cent during the first half of 2019. [...]
Boris Johnson can deliver a bolder economic vision for Britain July 10, 2019 Brexit Britain is at an impasse. Half-in, half-out, with our politics gridlocked, we are now in serious danger of undermining our traditional attractiveness as a magnet for global investment. This week’s quarterly survey of FTSE CFOs by Deloitte shows that 83 per cent expect the UK’s economic prospects to worsen as a result of Brexit [...]
Deutsche Bank wields the axe in London as traders sent home July 8, 2019 Traders were sent packing from Deutsche Bank’s London office today as the German lender shuttered its entire share-dealing department. Read more: City jobs at risk as Deutsche Bank prepares to slash 18,000 roles globally Numerous bankers were given until 11am to vacate their offices, while bosses held conference calls to inform different teams about their [...]
Up in smoke: Imperial Brands to put breaks on dividend July 8, 2019 British tobacco giant Imperial Brands is set to abandon its ten per cent dividend growth target as it focuses on catching the vaping market. The news came alongside a £200m share buyback, sending the company soaring on the London exchange. Read more: Puffed – Imperial Brands shares drop on vaping slowdown Shares rose 2.74 per [...]
Lidl plans 500 new jobs in Scotland July 8, 2019 Supermarket chain Lidl is planning to hire 500 new people in Scotland across 12 new stores, it announced this morning. The low-cost grocer will add to its 98 stores across the country. It is already building new sites at Dundee, Cowdenbeath, Larkhall, Dumbarton and East Kilbride. Read more: Lidl unveils £500m London expansion plan for [...]
Vogue publisher Conde Nast dumps stake in retail platform Farfetch July 7, 2019 Conde Nast, the publisher of Vogue magazine, has dumped its £234m stake in luxury retail platform Farfetch. The company has concerns over how the marketplace is managed under founder and chief executive Jose Neves, according to the Sunday Times. Read more: Conde Nast launches new online magazine Vogue Business The newspaper reported that Conde Nast [...]
Asos prepares job cuts as sales slump July 7, 2019 Around 100 jobs are at risk at Asos’s London headquarters as the online retailer battles with slumping sales. The fast-fashion brand is consulting on a round of redundancies, which will mainly affect the marketing department, the Sunday Times reported. Read more: Eurozone retail sales see suprise fall in May Asos issued a warning in December, [...]
CMA puts brakes on Amazon’s Deliveroo investment July 5, 2019 The UK’s competitions watchdog will examine Amazon’s investment in Deliveroo, it said this morning, putting the brakes on the multi-million pound deal. The internet retail giant took a stake in Deliveroo in May, leading a $575m (£450m) funding round. It did not reveal the exact size of the stake. Read more: Amazon leads £450m Deliveroo [...]
Ofwat hits out at water suppliers’ business plans July 4, 2019 London’s water supplier was among four slated by Ofwat this morning as the regulator said it was “disappointed” by the firms’ request for more money to cover costs. Thames Water, Anglian Water, Yorkshire Water, and SES Water were told that their business plans do not live up to the regulator’s expectations. Read more: Regulator Ofwat [...]