City Moves: Who’s switching jobs in the Square Mile? April 13, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. LHV UK Fintech and crypto banking services provider LHV UK has bolstered its board with an independent non-executive director. Stepping onto the board at the beginning of May, Keith Butcher joins the City based firm with a raft [...]
As inflation pushes up prices, businesses should only hike them where it really counts April 13, 2022 Just as the impact of the pandemic was subsiding, inflation has risen to its highest rate since March 1992 – hitting 5.5 percent in January 2022. The Bank of England has projected that inflation will hit 7 percent by the spring. From freight rates to oil to furniture and groceries, prices are increasing dramatically. Many [...]
The A-Z of wine: This week, E is for… England April 12, 2022 We continue to march through the alphabet in search of new wines and old favourites. What’s this then? A green and pleasant land bedeviled by internal strife caused by a single contentious issue – namely, what do you call a soft bread roll? Also home to a burgeoning wine industry fuelled by centuries of wine [...]
The City View: Victoria Scholar on rising prices, unemployment and retail sales data; and XR cause Lloyd’s of London HQ shutdown April 12, 2022 Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through some of the week’s economics data on GDP, unemployment, retail sales, and talk trading updates. They discuss the latest from ASOS, Deliveroo, and EasyJet: ASOS is facing a raft of headwinds, as investors lose confidence in the online retailer; [...]
Asos swings to loss as fashion giant warns shoppers may cut back on purchases April 12, 2022 Online fashion giant Asos has said it was hammered by reduced stock availability as it posted a £15.8m pre-tax loss for the six months to the end of February. The company cited “industry-wide supply chain constraints impacting stock availability and ongoing Covid-19 restrictions.” In half year results on Tuesday, the retailer posted four per cent [...]
Retail sales slow as consumer confidence now lower than horsemeat scandal April 12, 2022 Retail sales slowed last month as consumer confidence has taken a hit as shoppers feel the bite of rising cost inflation. According to data from the British Retail Consortium (BRC) and KPMG, sales increased by 3.1 per cent in March. This was worse than a three-month average growth of 6.9 per cent. What’s more, retail [...]
Mothercare delays pension deficit payments after disruption of Russian operations April 11, 2022 Mothercare said it would be posting a higher than expected profit on Monday. In a pre-close trading update, the baby-clothes seller said it expected that EBITDA before adjusting items would be in the range of £11.5m to £12m for the year to 26 March. The retailer’s share price fell by a dramatic seven per cent [...]
Warehouse boom amid online shopping frenzy as construction bill hits highest level since 1985 April 11, 2022 The UK is in the throes of a warehouse boom after roaring demand for e-commerce businesses was accelerated during the pandemic. The Office for National Statistics (ONS) revealed on Monday that the UK’s transport, logistics and warehousing sector has almost doubled since 2011. This makes it the country’s fastest-growing sector, outpacing information and communication. Logistics [...]
Heal’s sales hit record levels as furniture firm’s online offer grows April 11, 2022 Furniture firm Heal’s sales hit record levels last year, surpassing £50m for the first time in its two-century history. The company said yesterday gross sales jumped 27 per cent against the previous year, as its online division gathered steam. Although its six bricks-and-mortar stores were shuttered for months on end due to Covid lockdowns, the [...]
Events group Ascential eyes break up and US listing April 11, 2022 London-listed media and events group Ascential has confirmed today it is exploring spinning off a section of its business, after reports that it was looking to float its digital assets in the US.