Discounter B&M shares sink despite profit doubling during Covid pandemic June 3, 2021 Discounter B&M shares sink despite profit doubling during Covid pandemic
Amazon to dethrone both Tesco and Sainsbury as UK’s largest retailers within four years June 3, 2021 Amazon is to overtake Tesco as the UK’s largest retailer within the next four years, with sales expected to hit more than £77bn by 2025, according to new research, shared exclusively with City A.M. this morning. Last year, Amazon UK’s total sales were £36.3bn while Tesco’s sales were almost double at £64bn. However, by 2025, [...]
HSBC backed buy-now-pay-later firm Divido raises $30m in funding June 2, 2021 Buy-now-pay-later firm Divido has raised $30m today in a Series B funding round boosted by HSBC and ING, as it eyes expansion. The retail finance company, which launched in 2014, has a white-label platform that links up lenders, merchants and partners at the point of sale, to make digital spending quicker and easier. “The retail [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 2, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Brown Advisory expands London office with senior hires Investment management firm Brown Advisory has bolstered its London office this week with two senior hires as its collection of assets hits $15bn. [...]
Ripple making waves against the SEC’s confusing crypto rule book June 2, 2021 Ripple’s legal battle with the SEC has taken a twist after the US regulatory authority suffered a setback in its pursuit of the blockchain-based digital payment company.
Jammie Dodgers and Wagon Wheels baker snapped up by Nutella maker Ferrero June 1, 2021 Jammie Dodgers and Wagon Wheels baker snapped up by Nutella maker Ferrero
Wall Street opens higher while the FTSE 250 closes at a new record June 1, 2021 Wall Street opens higher as FTSE 250 closes at a new record
Made.com: Online retailer confirms plans to raise £100m in London IPO June 1, 2021 Made.com has confirmed plans to list in London later this month after capitalising on the shift to e-commerce during the pandemic. Last week the online furniture retailer unveiled plans for a float and today confirmed it plans to raise £100m, and the offer will include an offer of existing shares to be sold by existing [...]
Crowdcube launches IPO platform for retail investors June 1, 2021 Crowdcube has today announced the launch of a new IPO platform as minister plan to reduce the dominance of institutional investors in listings. The UK crowdfunding company allows retail investors to xxx . It will offer a service for public as well as private share sales from this summer, the Financial Times reported. “These community [...]
Booming sales at Wickes as locked down Brits turned their hands to DIY June 1, 2021 Sales at Wickes boomed in the six months to 22 May, as a nation under lockdown restrictions got creative with DIY and home renovations. In a trading update this morning, the retailer, which sells various home improvement products, revealed like-for-like growth jumped some 46 per cent on the same period in 2020. Following better [...]