Saturday Spotlight: Cost of living crisis is giving Buy Now Pay Later shot in the arm December 10, 2022 Buy Now Pay Later offerings may be controversial and much-criticised, it seems the cost of living crisis is giving the format a major boost. In fact, it has emerged that nearly half of all Brits are more likely to or are already using Buy Now Pay Later (BNPL) services compared to a year ago, according [...]
World Cup fans flock to shops to buy TV screens and football Christmas decor December 9, 2022 Football fans have upgraded their screening set-ups ahead of England v France this weekend, with sales for televisions and projectors surging. The Three Lions are set to take on their rivals on Saturday evening, with shoppers rushing to upgrade their TV sets after England made it through to the showdown. High street stalwart John Lewis [...]
FTX collapse has no winners, unless you’re a news site or a hardware wallet December 9, 2022 David F Carr, Senior Insights Manager at Similarweb, crunches the numbers and discovers some surprising winners in the FTX debacle.
Morrisons inks £220m sale of warehouses as it aims to become ‘more popular’ December 9, 2022 Morrisons has inked a £220m sale and leaseback transaction of seven logistics properties, as it aims to become “more popular and more accessible.” The supermarket – which is owned by New-York private equity titan Clayton Dubilier & Rice – announced the completion of the deal with asset manager ICG on Friday. Morrisons has undertaken to [...]
Twinings owner Associated British Foods boosted amid cost of living crunch December 9, 2022 Primark owner Associated British Foods (ABF) has said its food business will fair better this year than the last, as it faces the UK’s economic downturn with low-cost offerings. At its annual general meeting today, chairman, Michael McLintock is expected to keep the group’s full year outlook unchanged, as many businesses in the country nudge [...]
On the Beach’s boss to step down as group returns to black for first time December 8, 2022 On the Beach’s boss Simon Cooper is set to step down just as the group returns to profit for the first time since the pandemic hit. Cooper, who founded the beach holiday retailer in 2004, will leave within the next year and will be replaced by the firm’s current chief financial officer Shaun Morton. The [...]
In The Style owners mull sale as founder returns to head fast fashion retailer December 8, 2022 A sale of fashion firm In The Style is being considered while the retailer’s founder will return to head the firm next year. Investment bankers at Lincoln International have been hired to assist with a strategic review of the firm, which may result in a sale of the firm or some of its assets. The [...]
Frasers reaps rewards of e-tailer takeovers as sales swell December 8, 2022 Sports Direct owner Frasers has seen profit leap up after a slew of high street and e-commerce acquisitions, backing its full-year expectations. The House of Fraser owner said it was confident in existing guidance for adjusted profit before tax of between £450m to £500m for this financial year. The retail titan posted a 53 per [...]
Loosening Covid-19 laws in China will not be economy’s silver bullet, says ING December 7, 2022 The loosening of strict Covid-19 restrictions in China Is unlikely to be the silver bullet the local economy needs, according to banking giant ING. China announced today that it is further relaxing its pandemic measures, meaning only those working in high-risk positions and located in elderly homes, hospitals, child care and primary schools will need proof of [...]
‘They had their chance and walked away,’ Octopus boss slams rivals in Bulb battle December 7, 2022 Octopus Energy has hit back at rival firms challenging its takeover of Bulb amid a protracted legal battle over the fallen supplier's future.