B&M hires boss of Iron Bru maker as it battles slumping share price December 17, 2024 B&M has hired the chief executive of Iron Bru maker AG Barr as it battles a slump in its share price. Euan Sutherland will become a non-executive director at the Liverpool-headquartered company from 20 January, 2025, subject to shareholder approval. If appointed, Sutherland will also join the remuneration and nomination committees. Sutherland has been chief [...]
Landsec buys Liverpool One shopping centre for £490m December 17, 2024 Property giant Landsec has bought a controlling stake of 92 per cent in Liverpool’s biggest shopping destination, Liverpool One, as it looks to build its retail portfolio. It bought the stakes of the Abu Dhabi Investment Authority (Adia), which owned 69 per cent, and Grosvenor, which owned 23 per cent, for £490m. The deal has [...]
Payments regulator in Treasury crosshairs as firms revolt December 16, 2024 As the government hunts for ways to make Britain more competitive, the country's payments regulator has become caught in the crosshairs.
Boohoo’s money troubles increase as bidder for London office walks away December 15, 2024 Boohoo has suffered another financial setback after an Israeli bidder pulled out of talks to buy its London office. The company was set to sell its Soho office for £60m to cover a looming debt repayment of £47m due in August 2025. The fast-fashion company bought the property for £72m in 2021. The news comes [...]
A requiem for UK equity capital markets December 14, 2024 London’s storied status as a global financial powerhouse is slipping away, and with every IPO that doesn’t materialise or company that decamps to the US, it becomes clearer that the City is in its death throes, says Owen Matthews As a former mid-cap ECM investment banker, I’ve watched with despair as the lights dim on [...]
Strathberry: Profit doubles at luxury handbag maker loved by Princess of Wales and Meghan Markle December 12, 2024 Profit more than doubled at luxury handbag maker Strathberry, which counts the Princess of Wales, Jennifer Lopez and Meghan Markle among its fans The Edinburgh-based business has reported a pre-tax profit of £3m for the 12 months to 30 April, 2024, up from the £1.3m it posted in the prior year. Newly-filed accounts with Companies [...]
In The Style cuts job as sales continue to fall ahead of stock exchange return December 12, 2024 In The Style slashed jobs in a bid to stem its losses amid continuing falling sales as its return to the London Stock Exchange edges nearer. The Manchester-headquartered fast-fashion retailer has posted a pre-tax loss of £2.6m for the year to 31 March, 2024, down from the £7.7m loss it reported in the prior 12 [...]
2025 will be a year of green shoots for the City December 12, 2024 Changing mood music should gradually shift sentiment in London’s favour – and with the fire power of pension funds 2025 could be a better year than the City has seen in a while, says Steven Fine In New York, investors are in bullish form. I met one very well-known player recently who nearly knocked me [...]
Square Mile and me: Octopus Money CEO Ruth Handcock December 12, 2024 Octopus Money CEO Ruth Handock tells us about cocktails, 10-hour job interviews and why we need more women in the City What was your first job? Washing neighbours cars inside and out for a pound at the age of 12. Followed by two years at Sainsbury’s on the checkout during sixth form. But both have [...]
Harrods: Christmas strikes set for crisis-hit department store December 10, 2024 Harrods, the crisis-hit iconic London department store, is braced for another blow as hundreds of workers voted to strike over the critical Christmas period. Employees represented by the United Voices of the World (UVW) union will walk out from 8pm on Friday, 20 December, to Sunday, 22 December, and again from 12am on Boxing Day [...]