Tourist trap: Why China’s wealthy new travellers have shunned Britain June 16, 2014 FOR TOO long, the UK has done too little to encourage Chinese nationals – the biggest of the big spenders in the international tourism stakes – to visit Britain. Chinese Premier Li Keqiang may be being greeted with open arms by David Cameron, but restrictive visa rules have long meant that Chinese tourists have been [...]
Footfall slump knocks retailers despite strengthening recovery June 16, 2014 RETAIL footfall dipped slightly during May in comparison to the same month in 2013, with London recording a larger than average drop in shopping traffic. Footfall fell 0.2 per cent across the country, according to the latest data from the British Retail Consortium (BRC) and Springboard – driven down by a 0.9 per cent drop [...]
Gimme 5 June 16, 2014 …STARTUPS CROWDFUNDING THIS MONTH Chilango Target: £1,000,000 for 8 per cent equity A London chain of seven fast-service Mexican restaurants serving award-winning food. Offers the “Burrito Bond”, a mini-bond paying investors 8 per cent. Raised: £430,500 via CrowdCube 57 days left Odyssey Target: £1,000,000 for 5 per cent equity A new business class airline venture [...]
B&M Retail bags £1.1bn to buck market gloom June 12, 2014 B&M RETAIL yesterday shook off the gloom in the new issues market to debut the biggest stock market flotation in London since Royal Mail. The budget chain, chaired by former Tesco boss Sir Terry Leahy, raised £1.1bn by selling 40 per cent of the company to City investors. Shares rose in informal trading to close [...]
City Moves for 13 June 2014 | Who’s switching jobs June 12, 2014 Investec Asset Finance Jane Mantell has been appointed head of portfolio risk at the asset finance provider. She joins from Insight Plus, the consultancy, where she has worked since 2007. Mantell previously spent nine years with Foxreed Consulting. UBS Michael Hafner has been appointed head of oil and gas, Europe, Middle East and Africa (EMEA) [...]
How B&M Retail IPO nearly beat Prada June 12, 2014 A budget department store founded by a shopkeeper in Blackpool during the late 1970’s has today become the biggest retailer to come to the stock market since fashion house Prada three years ago. According to fresh figures released this afternoon B&M Retail, which started life in the seaside resort in 1978, raised £1.1bn ($1.8bn) in [...]
Pay by swiping your hand: Quixter makes a splash at PayExpo June 12, 2014 The rise of smartphones, cryptocurrencies and a host of other technologies has brought a vast amount of innovation to the world of payment systems. However, a new product invented by Swedish engineer Fredrik Leifland, has made quite the splash at London’s PayExpo conference. Leifland’s device turns the customers hand into a physical basis for payment. [...]
How this UK discount retailer nearly beat Prada June 12, 2014 A budget department store founded by a shopkeeper in Blackpool during the late 1970’s has today become the biggest retailer to come to the stock market since fashion house Prada three years ago. According to fresh figures released this afternoon B&M Retail, which started life in the seaside resort in 1978, raised £1.1bn ($1.8bn) in [...]
Pay by swiping your hand: Quixter makes a splash at PayExpo June 12, 2014 The rise of smartphones, cryptocurrencies and a host of other technologies has brought a vast amount of innovation to the world of payment systems. However, a new product invented by Swedish engineer Fredrik Leifland, has made quite the splash at London's PayExpo conference. Leifland's device turns the customers hand into a physical basis for payment. [...]
B&M Retail goes for high IPO price June 11, 2014 B&M Retail is expected to set the price of its initial public offering at 270p per share today, in a show of confidence in the float despite a string of recent disappointments on the London market. The bargain retailer had earlier this week revised up its range to between 260p and 280p per share, encouraged [...]