Asda beats competitors to become fastest growing Big Four supermarket for first time in more than two years April 27, 2021 Asda beat its competitors to become the fastest growing of the biggest UK supermarkets for the first time in more than two years as consumers ventured further for their food shopping. The latest data showed Asda, which was recently sold by US retail giant Walmart to the Issa brothers and TDR Capital, increased its market [...]
FTSE 100 and Wall Street strike an upbeat tone to start the week April 26, 2021 Soaring copper prices and hopes of a summer holiday pushed the FTSE 100 to close higher on Monday while Wall Street rose ahead of a busy week for big tech earnings. London’s blue-chip index came under pressure this morning due to a stronger pound and weaker oil prices. However comments made by Ursula von der [...]
Pimlico Plumbers boss eyes high street ‘renaissance’ after record year April 26, 2021 Pimlico Plumbers boss Charlie Mullins has predicted a “renaissance” for the British high street after bumper lockdown trading put his company on track for a record year. The outspoken chief executive said that while the pandemic had sparked major challenges for businesses, the “death” of the traditional UK economy was being “greatly exaggerated”. “A year [...]
Covid Karens: More than half of older Brits now breaking lockdown rules April 26, 2021 After more than a year of coronavirus lockdowns, it is no surprise that willingness among Brits to stick to the rules is starting to fade. But new figures suggest lockdown fatigue is more prevalent among older Brits, with compliance among those aged 55 to 75 dropping off at the fastest rate. The number of people [...]
Poundland owner Pepco shuns London to float in Warsaw April 26, 2021 Poundland owner Pepco this morning announced its intention to go public in Poland, in a blow for London’s financial market. Pepco said it intends to apply for listing and admission to the Warsaw Stock Exchange, and said it had chosen Poland as it is the firm’s largest operating area. The discount retailer, which has more [...]
Bank earnings preview: What to expect in this week’s quarterly results April 26, 2021 While the banking sector has recovered somewhat in the past two months this week the issue of bad loans and customer defaults will be front of mind. The sector set aside billions in provisions for bad loans at the start of the pandemic, expecting a huge increase in defaults. However with thanks to government support [...]
Sunday Sitdown: ‘Skittish’ banks need to up their game, says CEO of Ezbob April 25, 2021 Following a nightmare year that was hugely disrupted by the pandemic and three subsequent lockdowns, the City is slowly switching into recovery mode as the economy starts to re-open and many sectors are coming back to life. To discuss the way back up, City A.M. sits down with Tomer Guriel, chief executive of Marble Arch-based [...]
Boohoo mulls linking bonuses to ESG improvements April 24, 2021 Boohoo is considering linking top bosses’ bonuses to improvements in the fast fashion firm’s environmental, social and governance (ESG) issues, following a scandal surrounding factories used by the retailer’s suppliers. The Environmental Audit Committee (EAC) said that Boohoo had agreed to look into the idea of linking senior executive remuneration incentives to ESG improvements. In [...]
London stocks end the week lower despite strong economic data April 23, 2021 London’s blue-chip stocks were little changed on Friday but finished the week lower as growing concerns over a surge in global coronavirus cases eclipsed optimism from recent data pointing to a rapid UK economic rebound. The exporter-heavy index ended the session flat, with a fall in heavyweight energy shares and large dollar earning companies including [...]
Franco Manca owner Fulham Shore says reopening sales beat pre-Covid levels April 23, 2021 Franco Manca owner Fulham Shore said sales had boomed since outside trading at its restaurants reopened, beating pre-Covid levels. Group sales in the week ended 18 April were ahead of the same wee in April 2019, before the coronavirus pandemic hit the UK. Following the “very encouraging” first week of outdoor trading, Fulham Shore said [...]