High power prices boost Engie earnings in first quarter May 11, 2023 French energy company Engie on Thursday reported a rise in first-quarter earnings, buoyed by high European power prices.
FTSE 100 close: ASOS shares nosedive 22 per cent after posting dim results May 10, 2023 London’s FTSE 100 slipped in the City today as online fashion retailer ASOS was pummelled after a dim set of results. The capital’s premier index shed 0.29 per cent to close at 7,741.32 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, lost 0.15 per [...]
Asos revenues tumble but chief remains ‘hopeful’ despite £87.4m loss May 10, 2023 Asos has posted a half year loss as the fashion retailer continues to be beaten by a tough economic climate and a slowdown in consumer spending, with its share price down over five per cent when markets opened this morning. The FTSE 250 retailer, which sells its goods exclusively online, said it had made an [...]
JD Sports: Why Peter Cowgill’s scandal-stricken exit was only a temporary blip in the brand’s race to the top May 9, 2023 JD Sports has no problem showing rivals how it’s done. This morning the ‘king of trainers’ kicked off its five year growth strategy, with a proposed acquisition of a leading French sports brand Courir, costing the brand a weighty £425m. As share price for JD Sports soared over three per cent this morning, it’s clear [...]
Banking crisis: DIY investors piled into Credit Suisse and Silicon Valley Bank trades during turmoil May 9, 2023 Do-it-yourself investors piled into banking trades in the first quarter of the year as the sector was shaken by the collapse of Silicon Valley Bank and shotgun sale of Credit Suisse to UBS, new data has revealed.
Bring me sunshine! Retailers hit by grim April weather as economy held back by the rain May 9, 2023 Retailers continued to be bruised by soaring inflation and poor weather conditions in April, as the sector holds out hope for summer to give a much needed boost in sales. Data by the British Retail Consortium (BRC) showed that while retail sales rose slightly over five per cent during the month, overall inflation meant that [...]
UK to officially avoid recession in first half of this year as Bank of England readies twelfth straight interest rate rise May 8, 2023 Britain is set to have officially avoided a recession in the first half of this year in a sharp turnaround in fortunes for the country’s economy, figures out this week are expected to reveal. Gross domestic product (GDP), which measures the amount of goods and services produced in the UK, is anticipated to have risen [...]
Asos: Will fast fashion darling see share price fly off the shelf? May 7, 2023 Online fashion giant Asos is expected to post another half-year loss and shareholders will hope for signs of improving demand from cash-strapped shoppers. It is among fast-fashion retailers to have become heavily pressurised over the past year by a brutal combination of rocketing costs, supply chain disruption and weaker consumer spending. The FTSE 250 company [...]
We shouldn’t be running out of tomatoes because we can’t sort out our supply chains May 5, 2023 Over the last month, bad weather in Europe and Northern Africa led to certain salad items being in short supply across the UK. Leading supermarkets, including Tesco’s, Morrisons, Aldi and Lidl all limited the number of tomatoes, peppers and lettuce that consumers can buy. Product shortages aren’t necessarily unusual, but since the pandemic, they have [...]
Boohoo settles £156m court case over fake discount claims May 4, 2023 Boohoo has settled a staggering $197m (£156m) US court case in which the fast fashion giant was accused of faking discounts for customers. The pure-play online retailer, which also owns Pretty Little Thing and Nasty Gal, was accused of engaging in a “deceptive pricing scheme”, with the court filing claiming Boohoo would falsely raise the [...]