Death of the High Street? Why we’re still backing UK retail April 9, 2019 Following some dire headlines you might rightly wonder why the share prices of UK retailers have recorded double-digit gains this year (see graphic, below). Surely the relentlessly downbeat mood music from the mainstream media (and pessimism among analysts) is confirmation that the UK consumer is in full retreat, and consumer-exposed sectors are in deep trouble? [...]
Debenhams falls into administration as Sports Direct fails with £200m equity offer April 9, 2019 Embattled department store chain Debenhams has fallen into the hands of its lenders, entering administration despite an 11th-hour bid from Sports Direct billionaire Mike Ashley to keep it public. Read more: Debenhams shares suspended as it falls into clutches of lenders Although the retailer’s 165 stores will continue to trade, some 50 outlets have already been flagged [...]
Lloyds Bank stars as FTSE 100 rockets in Q1 April 9, 2019 By Graeme Evans from interactive investor. After a great first quarter for stock markets, we assess the best and worst blue-chips of 2019 so far. It’s been a storming start to 2019 for the FTSE 100 index, with popular interactive investor stocks including Lloyds Banking Group (LSE:LLOY), Next (LSE:NXT) and Tesco (LSE:TSCO) among those on [...]
Debenhams shares suspended as it prepares to fall into administration April 9, 2019 Debenhams’ shares were suspended this morning as it prepares to go into administration, falling into the hands of lenders after rejecting an improved equity offer from Sports Direct. Read more: Debenhams shares slump as shareholders risk losing everything The Financial Conduct Authority temporarily suspended trading of the under-fire department store “at the request of the [...]
Tube strike action on the cards as Aslef and RMT unions reject TfL pay deal April 8, 2019 A second transport union has rejected a pay deal from Transport for London (TfL), increasing the chance of strikes on the Tube. The Aslef train drivers' union has rejected a 2.5 per cent pay rise from TfL, saying it matches the Retail Price Index (RPI) inflation rate which falls "way below" what Aslef is seeking. [...]
Chilango, burrito bonds, and London – the boss of the Mexican food chain talks about the virtues of crowdfunding April 8, 2019 After interviewing Eric Partaker, the co-founder of burrito chain Chilango, he says I should try the food at his elaborately decorated restaurant on Cannon Street. I ask what he recommends, and instead of picking from the regular menu, he suggests I sample the “Noah’s Ark” – a lunch box containing all the meat options. A [...]
Hotels stump up for new business rate bills April 7, 2019 Some of London’s most iconic hotels are facing renewed pressure from rising property taxes, according to business rate experts who fear that the sector could be hit by the latest round of bills. Real estate services firm Colliers found that 93 London hotels have been charged with a combined total rates bill of £12.2m this [...]
Japanese investment bank Nomura to cut 100 City of London jobs in $1bn global cost-cutting plan April 4, 2019 Japanese investment bank Nomura will cut around 100 jobs in the City in a global restructuring plan to save $1bn (£760m). Nomura unveiled the cost-cutting plan to investors earlier today and also said it would shut more than 30 of 156 domestic retail branches. Read more: Nomura plans to cut up to 50 staff from [...]
The burden of business rates falls unfairly on the West End April 4, 2019 This week, UK retailers received one of their biggest tax bills of the year. The consequences of the 2017 revaluation of business rates will again be felt, with a further hike of nearly 50 per cent for some companies. Retailers in London’s West End and Mayfair will once again be hardest hit, paying the lion’s [...]
Five high-quality European stocks for an ISA April 4, 2019 By Rodney Hobson from interactive investor. Our author and columnist offers some tips on choosing ISA stocks and identifies a handful of top picks. Rodney Hobson is an experienced financial writer and commentator who has held senior editorial positions on publications and websites in the UK and Asia, including Business News Editor on The Times [...]