FTSE 100 reshuffle: What has gone wrong for M&S? September 2, 2019 High street stalwart Marks & Spencer looks almost certain to fall out of the FTSE 100 after markets close today. The retailer’s shares have lost about 40 per cent of their value since January last year, despite management attempts to turn its fortunes around. Read more: Ocado and M&S share prices drop as they complete [...]
Marks & Spencer tipped to drop out of FTSE 100 amid high street troubles September 1, 2019 Marks & Spencer is poised to drop out of the FTSE 100 later this week in a market reshuffle that sheds light on the troubled retailer’s tumbling share price. One of 28 original constituents still in the FTSE 100, M&S is expected to be relegated to the FTSE 250 on Tuesday following a sharp drop [...]
Ocado and M&S share prices drop as they complete £750m online delivery deal August 5, 2019 Investors battered Ocado and Marks & Spencer’s shares this morning as the supermarkets finalised details of a £1.25bn partnership. M&S’s share price fell 4.5 per cent while Ocado’s share price dropped as much as 4.4 per cent as M&S completed the £750m purchase of a 50 per cent stake in Ocado’s online delivery platform. Read [...]
Capita return to growth ‘distinctly possible’ as turnaround starts to do the trick August 1, 2019 Capita’s market value shot up today as investors toasted the first fruits of a sweeping turnaround plan. The outsourcer’s share price jumped 17 per cent on the news margins had grown in four of its six main business divisions. Capita runs the Ministry of Defence’s recruitment programme for the British army. The figures Pre-tax profit [...]
‘Techlash’ risks making us less secure, as we swipe right for the Wild West of apps August 1, 2019 It’s fair to say there’s been a lot in the news across the world recently. Between a new British Prime Minister, protests in Hong Kong and Russia, foreboding temperatures, and Marks & Spencer scrapping its free biscuit offering, things have been uncharacteristically busy for this usually sleepy time of year. As a result, I wouldn’t [...]
City bigwig Michael Spencer blasts ‘politically motivated’ regulators July 28, 2019 City grandee Michael Spencer has launched a scathing attack on “politically motivated” regulators after his firm successfully challenged a €15m (£13.5m) fine over the Libor rate-rigging scandal. The former Tory party treasurer urged banks to stand up to regulators after his brokerage firm Icap won its court battle against the European Commission earlier this month. [...]
British Gas owner Centrica ‘to cut dividend and sell off oil and gas business’ July 21, 2019 Centrica is said to be planning to cut its dividend and start looking for a buyer for its oil and gas business. The British Gas owner is reportedly planning to cut its payout in a bid to keep its credit rating. It would join the likes of Vodafone, Marks & Spencer and BT in doing [...]
Vodafone rings cynical tone with token gesture on executive pay July 12, 2019 Talk about a late call. By the time Vodafone signalled a concession this week over long-term share awards granted to its top executives, the damage had already been done. The “voluntary request” (a phrase underlining the City’s talent for tortured tautology) made by Nick Read and Margherita Della Valle has stuck in the craw of [...]
M&S clothing boss steps down as CEO takes over role July 11, 2019 Marks & Spencer head of clothing Jill McDonald is leaving the company and is set to be replaced by chief executive Steve Rowe. McDonald, the former chief executive of cycling retailer Halfords, joined the high street giant less than two years ago. Read more: M&S seeks to persuade investors of Ocado deal benefits Sky News, [...]
Immigrants are building Britain’s fastest-growing businesses July 11, 2019 Too often, immigrants get a bad press. But we’re trying to change the narrative in today’s report Job Creators: The Immigrant Founders of Britain’s Fastest Growing Businesses. It reveals that – despite just 14 per cent of UK residents being foreign-born – 49 per cent of the UK’s fastest-growing businesses have at least one immigrant [...]