Crypto market briefly surpassed $3 trillion mark after Bitcoin and Ethereum highs November 15, 2021 Data from CryptoCompare shows that the price of Bitcoin hit a new all-time high last week, close to $69,000 but failed to breach the $70,000 barrier.
Starling Bank CEO: Barclays ‘firmly in our sights’ as we’ll be bigger within five years November 15, 2021 Barclays is firmly on the radar of Starling Bank’s senior management, as the company said it is working to overtake the Canary Wharf-based banking giant in the business banking market within the next five years. The bold predictions come as the digital lending disruptor is getting ready for a stock market float. Starling’s founder and [...]
High street stalwarts shun Black Friday November 13, 2021 High street stalwarts are shunning Black Friday this year due to the discount shopping event losing its pull among consumers. The likes of Marks and Spencer and Next will stop offering discounts on products due to the event squeezing margins and offering little value to businesses. Other online retailers, including Amazon and AO.com, are intending [...]
Focus On: Get yourself into a Pickle in booming Bermondsey November 12, 2021 Located in the south-easterly London Borough of Southwark, Bermondsey has a fascinating past. Back in the 1800s it was known for its industrial plants for processing animal hides (hence some road names such as Tanner Street and Leathermarket), as well as slums for local workers and the notorious docks that inspired scenes in Dickensian novels [...]
Luxury group Richemont in talks with Farfetch to shed stake in lossmaking Net-a-Porter November 12, 2021 Swiss luxury goods group Richemont is in “advanced talks” with the UK’s Farfetch over a deal to sell on its minority stake in the lossmaking Yoox Net-a-Porter (YNAP) online luxury retailer. It’s a move that is likely to butter up investors that have long been critical of its stake in YNAP, which has lost its [...]
Ted Baker shows signs of recovery despite falling share prices November 11, 2021 Ted Baker is enjoying rebounding sales and has cut its losses by 70 per cent, with the clothing chain looking to revive its fortunes as pandemic restrictions ease. Brand sales are up 23 per cent to £433m year-on-year, retail sales have grown 10.4 per cent to £136.9m during the same period, and overall losses have [...]
B&M report mixed-bag results amid supply chain pressures November 11, 2021 B&M European Value has reported group revenue increases of 1.2 per cent, in a patchy set of half-year results. The variety goods retailer has consolidated last year’s rocketing growth levels to reach £2.268bn in its interim results, which is a 26.8 per cent increase on its half-year results from 2020. On a two-year basis versus [...]
Auto Trader reports highest-ever sales as digital efforts pay off November 11, 2021 Car marketplace Auto Trader has reported its highest-ever six months of sales and profits, as demand for cars from its platform surged to record levels and the company’s focus on its digital offering in the pandemic paid off. Revenue jumped 82 per cent to £215.4m , up from £118.2m a year earlier. This was up [...]
These aren’t just good results…M&S buoyed by update November 11, 2021 Marks and Spencers’ shares were back in fashion on the FTSE 250 yesterday, after a buoyant update indicated greener pastures for the once ailing brand. The retailer boosted full year profit expectations as it reported a profit before tax of £187.3m in the six months to 2 October, sending shares up more than 16 per [...]
WH Smith hails ‘good start’ to the year despite loss of £104m November 11, 2021 Retailer WH Smith has hailed a “good start” to the new financial year amid a continued recovery in its travel stores. It came as the company reported a group pre-tax loss of £104m for the year to August, reducing its losses from £226m last year. Meanwhile, total revenues for the year dropped by 13% against [...]