UK fund markets buoyed by ‘Boris bounce’ February 6, 2020 The UK fund market has benefited from the ‘Boris bounce’, ending the year with December inflows of £3.6bn. The net retail sales for the month were more than double the November figure and the biggest monthly inflow since January 2018, according to the latest figures published by the Investment Association (IA). On an individual fund [...]
Nintendo warns coronavirus will dent console production February 6, 2020 Japanese games giant Nintendo has warned today that the coronavirus outbreak meant “unavoidable” delays to the production and shipping of its Switch console to Japan. The virus has now killed 563 people and infected more than 28,000 in China. Beijing has put the country on lockdown in a bid to contain the spread, limiting its [...]
M&S appoints strategy and transformation director February 5, 2020 Marks & Spencer has appointed a new chief strategy and transformation director as the retailer seeks to improve the performance of its key clothing and home division. Former Dixons Carphone UK and Ireland boss Katie Bickerstaffe, currently a non-executive director at the high street chain, will take up the new role on 27 April. Bickerstaffe, [...]
Poundland-owner Pepco’s boss says sale ‘almost inevitable’ February 5, 2020 The chief executive of Poundland-owner Pepco Group said it is “almost inevitable” the company will be sold, as the retailer updated the market on its strong Christmas trading last year. Pepco Group boss Andy Bond said it is likely that its owner Steinhoff will sell the firm, adding he is “genuinely open minded” on the [...]
Investment in UK supermarket property surges to six-year high February 5, 2020 UK supermarket property deal value surged to a six year high last year as investors targeted retail real estate with steady returns. According to the latest research, property investors pumped £1.78bn into the UK supermarket sector in 2019, an 80 per cent jump on the previous year. There were 48 transactions during the year, up [...]
New John Lewis boss makes first key hire February 4, 2020 Former Ofcom boss Sharon White has made her first key hire as she takes over as chairman of struggling department store John Lewis. Nina Bhatia has been appointed executive director of strategy and commercial development following a reshuffle of the partnership’s structure. Bhatia, who was most recently managing director at home energy management company Hive [...]
Ikea is closing its first big UK store February 4, 2020 Ikea is preparing to close its Coventry store this year, which will be the first time it has shuttered a large site in the UK since its launch in the country 33 years ago. More than 350 jobs are at risk following the decision, which Ikea said was due to the “changing behaviour of customers [...]
Ocado retains crown as Britain’s fastest-growing supermarket February 4, 2020 Ocado has retained its position as Britain’s fastest growing supermarket, with the online grocer achieving its quickest growth in the North of England. Ocado’s overall sales grew 11.2 per cent year-on-year during the quarter, with its market share rising 0.2 percentage points, according to data from Kantar. While over half of the grocer’s sales come [...]
The big freeze: Investors feel the chill in M&G’s frozen property fund February 4, 2020 December and January have been cold dark months, especially for investors whose money has been frozen in M&G’s £2.5bn property fund since the beginning of winter. The asset management company felt compelled to suspend trading on its Property Portfolio fund on 4 December, due to the high volume of withdrawals by investors in the preceding [...]
DEBATE: Will the coronavirus outbreak have a long-term impact on the Chinese economy? February 4, 2020 Will the coronavirus outbreak have a long-term impact on the Chinese economy? Emma Wall, head of investment analysis at Hargreaves Lansdown, says YES. Gross domestic product is split into three sectors which drive growth: agricultural, industrial, and services. Agriculture, which makes up seven per cent of China’s GDP, has already taken a significant hit in [...]