Pinched-for-cash Poundworld in talks with TPG for more money after poor festive trading January 18, 2018 Discount retailer Poundworld is in talks with its majority owner, US private equity giant TPG Capital, for a new cash injection after a troubling festive period. Poundworld is asking for another £30m to £40m of investment, according to Sky News, after disappointing sales and one-off costs saw its debt pile up last year. Sources close [...]
Newcastle United takeover talks between Amanda Staveley and Mike Ashley fall through January 16, 2018 Prominent businesswoman Amanda Staveley and Newcastle United owner Mike Ashley have ended talks over a deal for the club which could have been worth as much as £250m. The deal fell through when Staveley refused to match Ashley’s valuation of the club, according to the BBC. Staveley’s fund, PCP Capital Partners, made an offer to [...]
The City of London is bracing itself for a raft of UK retail collapses in 2018 January 12, 2018 Retailers painted a gloomy picture of the high street this week as several big names failed to cash in on the Christmas shopping season. Gloomy financial updates from household favourites such as Marks and Spencer (M&S), Debenhams, and House of Fraser prompted analysts to signal several retail collapses may be on the cards in 2018. [...]
Marks & Spencer (M&S) share price falls after saying sales slump could have been much worse, had it not been for a “better” Christmas January 11, 2018 Food and clothing sales at Marks & Spencer fell in the final three months of 2017, the firm announced this morning. Total third-quarter sales in the UK dropped by 1.4 per cent to £2.9bn. Shares fell almost three per cent in morning trades. Boss Steve Rowe labelled the trading returns for the quarter “mixed”. He [...]
IG Group, CMC Markets, Plus500 share price falls despite shrugging off FCA claims customers are at “serious risk of harm” January 10, 2018 Britain’s biggest spreadbetting firms today shrugged off a damning assessment of the contracts for differences (CFD) sector by the City’s top financial watchdog. In a letter to the spreadbetting chief executives, the Financial Conduct Authority (FCA) uncovered “flawed” processes, “significant weaknesses” and conflicts of interest. Consumers are at “serious risk of harm from poor practices [...]
Revealed: Peel Hunt’s top growth stocks for 2018, from Asos to Just Eat January 4, 2018 Brushing aside the warnings of a stock market bubble ready to burst, which have been flying around in recent weeks, broker Peel Hunt today released its list of top growth stocks for 2018. Based on earnings per share and sales, over the last two years and the next two years’ predictions, Peel Hunt’s selection ranges [...]
Aston Martin unveils its best sales in decade January 4, 2018 More than 5,000 James Bond wannabes got their hands on their dream cars for the first time since the financial crisis last year, Aston Martin said today – as it announced plans to resurrect one of its most iconic models. The luxury marque said today it sold 5,117 vehicles last year, the first time since [...]
Boots’ UK stores drag on Walgreen Boots Alliance’s international sales January 4, 2018 Boots' UK stores acted as a drag on the international sales of Walgreens Boots Alliance in the first quarter, the pharmaceutical giant said today. Internationally, the retail pharmacy arm of Walgreens Boots Alliance brought in sales of $3.1bn (£2.3bn), an increase of 4.1 per cent year-on-year. On a constant currency basis, sales fell 0.8 per [...]
Poundland just had its best Christmas ever January 3, 2018 It seems those questionable elf ads did the trick, for Poundland just had its best Christmas since it began trading in 1990, it said today. The bargain retailer said like for like sales in the three weeks to Christmas rose six per cent, while sales in the week before Christmas were 20 per cent higher [...]
Are markets too complacent about the US economy? January 3, 2018 The status of the US as the world’s most dynamic and important single country economy remains intact, not least among investors. Its strengths are now very much reflected in financial market valuations. This is evident in stocks, with the US having been at the vanguard of a multi-year bull run, while bond yields have reached [...]