FTSE closes lower amid investor fears over impending G7 summit in Canada June 8, 2018 The FTSE closed down today with investors in a cautious mood for most of the day ahead of a G7 meeting this weekend. It ended 0.3 per cent lower at 7,681.07 points. Markets fell as Donald Trump said Vladimir Putin should attend the summit in La Malbaie in Quebec, Canada. Russia was expelled from what [...]
Warhammer creator Games Workshop hands £5m bonus to staff after another stellar year June 8, 2018 Games Workshop handed £5m in bonuses to its staff this year after profits almost doubled again. In a trading update issued today ahead of the full results in July, the retailer said it had grown sales across all channels, including its high street shops, in the year to 3 June. Turnover is expected to be [...]
DEBATE: With House of Fraser closures, does it matter if consumers desert the high street for online outlets? June 8, 2018 With House of Fraser closures, does it matter if consumers desert the high street for online outlets? John Phillips, general manager (EMEA) at Zuora, says YES. Yes, it does matter if consumers desert the high street. Bricks-and-mortar retail is in trouble. Across the US and Europe, online retail is growing exponentially, while offline sales seem [...]
Buyout firm pulls out of Poundworld rescue deal talks June 6, 2018 The buyout fund circling Poundworld has walked away from talks, throwing the future of the chain into doubt. It emerged over the weekend that Alteri Investors, the backer of troubled chains such as Brantano and Jones Bootmaker, was in discussions over a possible rescue deal for Poundworld. But Sky News reported today that the firm [...]
House of Fraser denies rumours of CVA showdown June 4, 2018 House of Fraser has insisted its restructuring plan is "on track" despite reports suggesting its landlords could block the plans. The retailer is expected to close a swathe of its stores under a company voluntary arrangement (CVA), the same mechanism used by New Look and Mothercare among others. But some creditors are understood to be [...]
One in five EU consumers have shopped using a voice assistant like Apple’s Siri or Amazon’s Alexa June 4, 2018 While 87 per cent of US consumers are aware of voice and text aides, the European Union is miles ahead on adopting new technology from the likes of Apple, Amazon and Microsoft to carry out their daily buying needs. According to research carried out by Mastercard, 21 per cent of consumers in the EU have [...]
Last Week in the City: Stiff competition in funerals? June 1, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (28 May to 1 June 2018). Shares in listed funeral director Dignity slumped after the UK Competition and Markets Authority (CMA) said it will examine the pre-paid funeral sector, a move that could see tougher regulation. [...]
UK Q2 outlook more positive June 1, 2018 Last week European markets posted their first weekly loss since March, breaking a run of eight consecutive weekly gains, raising the prospect that we could be on the cusp of a period of consolidation after a run that has seen the FTSE100 run up from lows of 6,840 in March to a new record high [...]
UK economy looks more positive for the second quarter May 31, 2018 Last week European markets posted their first weekly loss since March, breaking a run of eight consecutive weekly gains, raising the prospect that we could be on the cusp of a period of consolidation after a run that has seen the FTSE100 run up from lows of 6,840 in March to a new record high [...]
British beer sales declined in the first quarter May 30, 2018 British beer sales fell in the first quarter of 2018, returning to decline after a burst of popularity last year. Sales fell 1.7 per cent in the three months to March, though this was against a tough comparaitve of 3.4 per cent in the first quarter of 2017. Last year’s rise marked the first time [...]