Eagle Eye jumps on float and closes its £4.5m 2ergo takeover April 16, 2014 RETAIL and hospitality voucher firm Eagle Eye Solutions, where former Tesco boss Sir Terry Leahy is an investor and director, saw its shares jump almost 10 per cent to 180p during its first day of trading yesterday. Eagle Eye raised £6m from its oversubscribed placing on London’s Alternative Investment Market, hitting a £36m valuation. “Today’s [...]
London Report: China data and bullish retailers drive FTSE rally April 16, 2014 THE UK’S benchmark stock index rose yesterday after Chinese economic data came in a touch above forecasts, with Tesco rising on aggressive strategy plans and Sports Direct surging on a bullish note about the company. The sportswear retailer surged 5.6 per cent to the lead FTSE 100 gainers. Traders cited a note from Bank of [...]
Inflation is a nasty stealth tax. We should celebrate its defeat April 15, 2014 INFLATION, as Milton Friedman used to argue, is a form of taxation without legislation. Wealth is taken from some people – for example, holders of cash – and given to others – such as those with large debts. The process is stealthy, opaque, unpredictable and undemocratic, badly understood by citizens, and one of many reasons [...]
Bottom Line: Retail can’t promise to learn from mistakes April 15, 2014 YESTERDAY was a glorious, sunny day in London – clear blue skies with a hint of the crisp spring weather that typifies a British April. Lunching City workers donned light coats and sunglasses, keen to soak up the rays. But forecasters are already warning that Easter weekend could be a washout – retailers who’ve stocked [...]
Bond St priciest spot in Europe April 14, 2014 OLD Bond Street, home to London’s jewellers and luxury brands, has held onto its title as the most expensive shopping street in Europe, according to a survey out yesterday. Retailers now pay rents of £838 per square feet per year as demand for space on Britain’s prized shopping street continues to outpace supply, property advisers [...]
Uniqlo owner in talks to buy out Cath Kidston April 14, 2014 THE OWNER of high street fashion chain Uniqlo is leading a pack of suitors hoping to take control of UK homeware company Cath Kidston. Japanese company Fast Retailing, which is listed in Hong Kong and Tokyo, has approached Cath Kidston’s private equity backers TA Associates about acquiring its 65 per cent controlling stake in the [...]
Zeus Capital top of the board for junior flotations April 14, 2014 LONDON’S northern rival Manchester has emerged as a burgeoning scene for equity capital markets, with a Salford-based advisory rocketing to the top of the league for junior market listed flotations for the first time. Zeus Capital has soared to the top of the Alternative Investment Market (Aim) adviser rankings for new firms coming to market, [...]
AO World shares steady after update showing 40pc growth April 10, 2014 SHARES IN newly-listed fridge seller AO World steadied yesterday after the firm’s maiden trading update confirmed it was on track to deliver 40 per cent revenue growth. AO, which floated in February, has been routed this week along with other tech stocks in London and the US on fears that a bubble was forming within [...]
Crown Estate invests in St James April 10, 2014 The Crown Estate which owns Regent Street and other London landmarks, announced yesterday that it has made another investment in St James, acquiring 113 Jermyn Street for £6.7m. In the past five years the Crown Estate has invested £320m in 14 properties around St James’s. The investment is part of The Crown Estate’s plan to [...]
Why Britain’s changing economy needs a fresh monetary strategy April 9, 2014 THE PICK-UP in UK economic growth, which started last year, has continued into 2014 and appears to have gathered further momentum. Earlier this week, the British Chambers of Commerce (BCC) Economic Survey painted a picture of strong demand at home and abroad in both manufacturing and services industries. The survey also showed that companies are [...]