Digital screens and VR is cool, but artificial intelligence is creepy to most consumers | City A.M. July 18, 2018 Fingerprint scanners, voice recognition, targeted ads, home voice assistants. These technologies are all part of everyday modern life and are revolutionising the way retailers sell their products to consumers across the world. But have we actually taken the time to stop and consider what customers think of our ever increasing arsenal of tech tricks to [...]
Retailer The Works which is backed by private equity firm Endless and the founder of the Card Factory launches £100m London float | City A.M. July 13, 2018 Retail chain The Works plans to float on the London Stock Exchange later this month with a valuation of £100m. The offer price has been set at 160p per share and dealings are expected to start on 19 July. The Works sells arts, crafts, gifts, toys, books and stationery from more than 430 stores in [...]
UK blockchain startup launches equity crowdfunding round July 12, 2018 For venture-minded investors who have yet to make any major forays into the tantalising yet potentially risky ICO world of blockchain and cryptocurrency, one equity investment opportunity live now on Crowdcube may prove to be a gateway. Introducing: the bank account based on blockchain BABB (Bank Account Based Blockchain) is a UK-based startup. It is building [...]
DFS share price drops: Sofa retailer issues profit warning | City A.M. July 12, 2018 Furniture retailer DFS has issued a profit warning this morning, blaming warm weather, consumer confidence and logistical issues. Shares in the company fell more than 10 per cent in early trading. This was despite like-for-like order intake momentum exceeding expectations in the third quarter. Underlying earnings for the full year are now expected to be [...]
Bank of Cyprus offloads UK subsidiary for £103m to ‘Cynergy’ consortium July 10, 2018 The Bank of Cyprus has agreed to sell its UK banking operations to a consortium of investors in a £103m deal. The all-cash sale, which will complete by the end of the year, comes as Bank of Cyprus refocuses its efforts on the Cypriot economy. The lender was bailed out in 2013 by European authorities, [...]
Pressure grows on Premier Foods boss as activist investor builds stake July 10, 2018 The pressure on under-fire Premier Foods chief executive officer (CEO) Gavin Darby has increased today after activist investor Oasis Investment upped its stake in the company. Hong Hong-based Oasis has been vocal in its opposition to Darby who it accuses of “shareholder value destruction”. Read more: Paulson triples stake in Premier Foods as AGM showdown [...]
Why pockets of retailers are thriving in London July 10, 2018 The obituary of high street retail, according to the press, has been written. Physical stores are closing at a rapid rate. We don’t think this tells the whole story. The daily announcements of retailer bankruptcies points to an ever-decreasing pool of occupiers. However, we argue that the pendulum of pessimism in investment markets often swings [...]
World Cup delivers consumer spending boost as pubs rake in 10 per cent more cash July 10, 2018 The World Cup prompted the biggest spike in non-essential consumer spending in June since October 2016, as Britons spent 33 per cent more in pubs during England’s first match. Non-essential spending jumped by 5.5 per cent in June compared to the previous year, the strongest year-on-year growth since October 2016, according to data to be [...]
Mastercard is in talks with UK banks to take biometric technology to the forefront of payments security July 8, 2018 Mastercard is exploring the possibility of trialling its fingerprint-scanning cards in the UK, as the second Payment Services Directive (PSD2) rears its head on financial fraud. Currently under trial in South Africa, Mastercard's biometric card combines chip technology with a fingerprint scanner on the card's top right corner to verify the cardholder's identity when making [...]
Last Week in the City: Trade wars begin July 6, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (2 to 6 July 2018). The World Cup is “distracting” for participants in global markets, according to Citigroup. "We find that football is indeed distracting, subtly impacting market depth, traded volumes and execution cost,” the US [...]