NewRiver Retail to raise £75m for shopping spree in regions January 21, 2014 SHOPPING centre owner NewRiver Retail announced its second share placing in less than six months yesterday as it looks to continue its buying spree for more retail assets in the regions. The property company, which owns shopping centres including Regent Court in Leamington Spa and Newlands Shopping Centre in Essex, said it planned to raise [...]
Mobile giant in revenue boost January 21, 2014 CARPHONE Warehouse yesterday unveiled a 3.1 per cent like-for-like revenue increase in the third quarter. Europe’s biggest independent mobile phone retailer suffered further losses in the pre-pay phone market but managed to achieve a sixth quarter of like-for-like revenue growth. The London-listed group’s Virgin Mobile France saw revenue decline year-on-year by 15.6 per cent, reflecting [...]
Carphone Warehouse sticks to full-year guidance despite falling sales January 21, 2014 Carphone Warehouse announced today a 3.1 per cent like-for-like revenue increase in the third quarter. Europe's biggest independent mobile phone retailer suffered further losses in the pre-pay phone market but managed to achieve a sixth quarter of like-for-like revenue growth. The London-listed group's Virgin Mobile France saw revenue decline year-on-year by 15.6 per cent, reflecting [...]
What the other papers say this morning – 21 January 2014 January 20, 2014 FINANCIAL TIMES Retailers join IPO shopping list Bankers are preparing to list a swelling number of high street retailers on the London Stock Exchange as their private equity backers rush to cash in on a recovery in the IPO market. Discount retailer Poundland and Pets at Home are poised to kick off the slew of [...]
Amazon extends Sunday delivery to six more cities January 20, 2014 AMAZON will extend the Sunday delivery service that it trialled in London during December to six additional cities around the UK. Customers in Birmingham, Milton Keynes, Oxford, Nottingham, Manchester and Leeds will now be able to order items for delivery on any day of the week as part of Amazon’s Sunday delivery service. Sunday deliveries [...]
Fat Face moves closer to stock market debut January 20, 2014 Clothes shop Fat Face is ratcheting up its plans to seek a listing on the London Stock Exchange, and has brought in a slew of bankers to advise on a possible flotation. Bridgepoint, the private equity group that owns Fat Face, hired financial advisory group Lazard in December to assess options. And after strong Christmas [...]
What the other papers say this morning – 20 January 2014 January 20, 2014 FINANCIAL TIMES David Cameron faces EU isolation David Cameron risks “damaging Europe” with his anti-immigration stance, according to some of Britain’s allies, leaving the prime minister looking isolated in his attempts to restrict free movement in the EU. Ministers and officials from several EU powers told the Financial Times they would resist Mr Cameron’s attempts [...]
Metro blames IT for banks’ lack of competition January 20, 2014 BRITAIN’S banking sector cannot be broken open by challengers because the country lacks the vibrant IT sector needed to support new lenders, Metro Bank chairman Vernon Hill told City A.M. yesterday. Hill founded the first new bank in the UK in over a century in 2010, but argues it is a much easier process in [...]
London Report: Unemployment near threshold for UK rate hike January 19, 2014 UNEMPLOYMENT figures due out this week look set to show further signs of the UK’s recovery, with November’s rate expected to have fallen. Alan Clarke, of ScotiaBank said: “The highlight of the UK economic calendar is going to be the labour report, where we see a very good chance that the unemployment rate falls by [...]
UK banks risk financial meltdown if the long-term IT crisis remains unresolved | City A.M. January 19, 2014 ON THE busiest online shopping day of 2013, Cyber Monday, RBS faced an embarrassing IT system outage that left more than 1m customers unable to access their accounts for three hours. This wasn’t the first time. In 2012, an IT meltdown at RBS and its subsidiaries locked 17m customers out of their accounts for days, [...]