Consumer goods group Ultimate Products heads for a £100m-plus IPO in the next few days March 1, 2017 Ultimate Products, the innovative consumer goods group, is set for a £100m-plus IPO in London within days. It will list on the main market under the name of UP Global Sourcing Holdings. The IPO’s pricing could take place as early as today. The placing is understood to be substantially oversubscribed with investors taking part believed [...]
Johnson Service Group says laundering success is good news for Britain February 28, 2017 Johnson Service Group, the UK's largest rental workwear and laundry firm, today revealed bumper annual results. A 45 per cent growth in the firm's profits was good news for the UK, according to boss Chris Sander, who labelled the company a "barometer of Britain's financial health". Read more: In a spin: CMA suggests laundry services broke competition law The Aim-quoted outfit [...]
Droning on: How drones are transforming marketing February 28, 2017 From publicity stunts to epic and cost-effective aerial photography, marketers are getting increasingly creative with how they use drone technology. Prior to the rise in camera-equipped drones in recent years aerial photography was restricted to those who could afford helicopter support. All that has changed. As City A.M. reported last year, the drone [...]
Network Rail bags £743m for retailers in its stations in 2016 February 27, 2017 Retailers in Network Rail stations cashed in on commuters' Christmas shopping last year, boosting sales by 3.7 per cent in the final quarter of 2016, bringing the total sales to £743m. In the quarter, shoppers spent nearly £185m in Network Rail stations, such as Paddington, King's Cross, Manchester Piccadilly and Liverpool Lime Street. Read more: Retail sales bounce [...]
Tandem Bank’s chief executive Ricky Knox talks sarongs, dumb pipes, ornithology and why Facebook is scared of banking February 27, 2017 "Would you have called Amazon? I didn’t! We all thought that was just a fad – it was a bookseller. An online bookseller with that valuation? But the internet creates these giants – and it’s not just one or two of them. "Look at music – EMI is basically dead. Google – a little bulls*** [...]
Insurer Hiscox is planning to move its EU HQ to either Luxembourg or Malta February 27, 2017 Hiscox has narrowed down its shortlist for a new EU base to two countries and says Brexit is unlikely to impact the firm strategically. The insurer today announced record annual results, with profits soaring and its retail operations growing to represent half of the firm's business, and the firm also revealed it is eyeing move to Malta [...]
City Moves for 27 February 2017 – who’s switching jobs? February 27, 2017 Today's City Moves cover legal eagles, market strategy and insurance. Take a look at these movers and shakers: Dorsey & Whitney LLP Employment law specialist Bob Cordran has joined international law firm Dorsey & Whitney’s London office as a partner. Bob, formerly a partner at Marriott Harrison LLP, is an experienced employment lawyer who has [...]
Alarm bells sound for UK business as rising costs and inflation threaten to squeeze margins February 27, 2017 Business groups have renewed calls for government to support companies in the upcoming Budget as firms face a toxic mix of rising inflation, spiralling operating costs and squeezed margins. Inflation is starting to climb and is forecast to reach nearly three per cent by the end of the year. Higher input costs are expected to feed [...]
Labour has invited industry groups for an emergency summit on business rates tomorrow February 26, 2017 Shadow chancellor John McDonnell has convened an emergency roundtable on business rates tomorrow in a bid to increase the pressure on the government to implement reforms. McDonnell will lead the summit alongside newly appointed shadow business secretary Rebecca Long-Bailey, meeting with groups including the Institute of Directors, Federation of Small Businesses and the British Chamber of Commerce [...]
Barclays to install ex-boss of B&Q-owner Kingfisher Sir Ian Cheshire as chair of its UK operations February 26, 2017 Barclays is set to announce Sir Ian Cheshire as chair of its UK ringfenced operations tomorrow. Under the ringfencing rules, banks have until 2019 to split their retail units away from their investment divisions. Sky News, which first reported the news of Cheshire's impending appointment, revealed the Prudential Regulation Authority, the banking sector watchdog, has now [...]