F1 star Bottas among big name investors to back wine investment firm Cult Wines June 19, 2023 F1 driver Valtteri Bottas and the former chair of Moet-Hennessy are among the names to have backed a fresh £1.7m funding injection in wine investment firm Cult Wines, the firm announced today. Cult Wines, founded in London in 2007, announced today the seed fundraising round was led by Christophe Navarre, the former Moet-Hennessy chief and chairman [...]
UK inflation tipped to trim to lowest level in over a year as food prices begin to ease June 19, 2023 UK inflation is poised to recede to its lowest level in over a year, pushed lower by food and energy price rises easing, markets are betting. Fresh cost of living figures from the Office for National Statistics (ONS) on Wednesday will top investors’ minds in a busy week of data that will shape movements in [...]
Online retail firms in trouble as punters turn back to the high street June 19, 2023 E-commerce retailers which were bolstered by Brits stuck at home during the pandemic are now going bust, a new report shows, as the cost of living crisis continues to eat away at businesses. The number of insolvencies of UK e-commerce businesses rose 71 per cent to 529 in the past year, up from 309 in [...]
Wall Street ends best week since March on quiet note June 17, 2023 Wall Street has closed out its best week since March with a quiet finish on Friday, as stocks drifted to modest losses. The S&P 500 fell 16.25 points, or 0.4 per cent , to 4,409.59 after wobbling through the day. It still closed out a fifth straight winning week for its longest such streak since [...]
FTSE 100 Live: London markets open higher as Travis Perkins issues profit warning June 16, 2023 FTSE 100 opened higher on Friday on a boost from energy and mining stocks, despite a profit warning from Travis Perkins.
Wall Street: Stocks up as US winning streak kicks into a higher gear June 16, 2023 US stocks swept higher on Thursday, revving the longest rally for Wall Street in a year and a half into a higher gear. The S&P 500 rallied 1.2 per cent to reach heights untouched since April 2022. The Dow Jones Industrial Average climbed 428 points, or 1.3 per cent, while the Nasdaq composite rose 1.1 [...]
Currys considers offloading Greek retail arm Kotsovolos with strategic review June 16, 2023 Currys could offer up its Greek electronics arm Kotsovolos to potential buyers, announcing a strategic review of the businesses.
Tesco: ‘Encouraging signs inflation is starting to ease’ as quarterly revenue tops £14.8bn June 16, 2023 Britain’s biggest supermarket Tesco has reported a nine per cent increase in UK sales, with its new chief executive saying there are “encouraging early signs that inflation is starting to ease”. Tesco said it reported £13bn in sales across the UK and Republic of Ireland, up almost nine per cent on the previous quarter. In [...]
Cold weather weighs down ‘flattish’ sales for H&M – but Swedish chain has reasons to be cheerful June 15, 2023 Fashion chain H&M has revealed weaker-than-expected sales over the latest quarter after demand was weighed down by chilly weather. The Swedish retail giant, however, added that June trading has started well amid improving conditions, driving an increase in shares in early trading. It told investors on Thursday morning that net sales were “flattish compared with [...]
Asos drive to turn “stock into cash” by buying less and flogging discounted old items June 15, 2023 Asos is buying less stock and ramping up sales of its current items in the latest efforts to boost profit, as the struggling online retailer steams ahead with its turnaround plan – posting a £20m rise in earnings. The fashion brand said it is on-track to deliver adjusted earnings before interest and taxes (EBIT) guidance [...]