Binance’s FCA snub could be just the beginning of a clampdown on crypto exchanges June 29, 2021 The FCA’s hard-line approach with Binance Markets is a clear signal that regulatory bodies are preparing to put cryptocurrency exchanges under their microscope, warn lawyers.
E-cigarette maker Juul to pay $40m over teen targeting claims June 28, 2021 E-cigarette maker Juul has agreed to pay $40m to North Carolina to settle a lawsuit by the state accusing it of marketing its products to young people. The settlement, announced on Monday by North Carolina Attorney General Josh Stein, is the first reached by the company with a state government. The deal also includes restrictions on sales [...]
Greggs maintains positive sales trajectory despite shrinking pent-up demand June 28, 2021 Bakery chain Greggs has maintained a positive sales trajectory as restrictions ease, it said in its trading update today, with sales only slightly knocked by shrinking pent-up demand. The high street retailer last reported its trading performance on 10 May, at which point it had seen a strong recovery in sales levels following the easing [...]
Shop small and shop online: changed consumer habits are powering micro-businesses June 27, 2021 It comes as no surprise the nation’s GDP shrank by 1.5 per cent in the first quarter of this year. The third lockdown took its toll on businesses of all sizes. As the economy recovers, we need to steer the nation to smoother waters by supporting even the smallest of small businesses. Micro-businesses make up [...]
Online retailer CMO eyes £100m AIM listing in bid to disrupt building materials market June 25, 2021 Online-only building materials firm CMO is set to list on London’s AIM market next month, the company announced this morning. City A.M. understands that the Plymouth-headquartered outfit is likely to fetch a valuation of around £100m. CMO will be looking to follow in the footprints of fellow home improvement retailers Victorian Plumbing, which listed on [...]
Small businesses battered by Covid restrictions see return to pre-pandemic sales June 24, 2021 Small businesses are seeing their sales slowly creep back toward pre-Covid levels, but sectors such as hospitality and arts and recreation still have a way to go. An analysis of the records of hundreds of thousands of companies shows that the health of small businesses has remained steady. However, despite the easing of lockdown restrictions [...]
eBay to sell majority stake in South Korean branch to E-Mart for $3bn June 24, 2021 Online marketplace giant eBay is set to sell a majority stake in its South Korean branch to retailer E-Mart for $3bn. The deal forms part of a string of asset sales, with the UK’s competition watchdog clearing eBay’s $9.2bn sale of its classified ads business to Norwegian rival Adevinta earlier this month. South Korean E-Mart, part [...]
Poundland owner Pepco increases earnings as store openings outpace pandemic June 24, 2021 Pepco Group, owner of discount retailer Poundland, has reported a 16.8 per cent increase in core earnings in the six months to 31 March, as revenue growth from new store openings offset the impact of pandemic restrictions. The group, which is listed in Poland and also owns the PEPCO and Dealz brands in Europe, trades from more than [...]
Some 300 million extra square feet of warehouse space needed in Europe to support e-commerce boom June 22, 2021 Nearly 300 million square feet’s worth of warehouse space in Europe will need to be found to cope with the e-commerce boom expected in the coming years. E-commerce sales across Europe are expected to increase by $298bn from 2020 to 2025, requiring thousands more industrial warehouses and distribution spaces to meet the growing demand, according [...]
E-commerce grocery sales plateau boosts Aldi’s market share to peak levels June 22, 2021 The growth of e-commerce sales in the grocery market has plateaued, giving the likes of Aldi an opportunity to grow its market share after not making use of online sales in the past year. The percentage of e-commerce sales in the grocery market remained flat at 13.4 per cent in the four weeks to 13 [...]