Sunday Times Rich List 2017: The wealth of Britain’s billionaires has boomed despite Brexit, but Mike Ashley, Sir Philip Green and Selfridges owning Weston family lose millions May 7, 2017 The wealth of Britain’s richest has rocketed with more billionaires than ever before, new figures reveal. Brexit failed to derail the rise of the super-rich and the collective cash of the world’s wealthiest topped a whopping £658bn – that’s up 14 per cent on last year. There are now 14 more billionaires in Britain than [...]
Where things stand one year after BHS went into administration April 25, 2017 BHS was almost 90 years old when it went into administration a year ago today, but all that remains of its legacy now is a string of empty shops and an online store. When retail tycoon Sir Philip Green sold the chain for just £1 to serial bankrupt Dominic Chappell in 2015, he set off [...]
British pound sterling falls against the US dollar (USD) as British retail sales plummet at fastest quarterly rate since 2010 | City A.M. April 21, 2017 Retail sales in the UK fell at the sharpest quarterly rate for seven years in March as price increases started to weigh on the British consumer. Sales fell by 1.8 per cent during the month while store prices grew by 3.3 per cent, the fastest rate of growth since March 2012, according to the Office [...]
VAT fraud and error on online marketplaces like Amazon and Ebay costs the UK £1bn, National Audit Office says April 19, 2017 The UK is losing up to £1bn a year in VAT because of fraud or error by sellers on websites like Ebay and Amazon. The National Audit Office (NAO) said the consumer regulator Trading Standards found companies failed to remove sellers often based in China that were flouting VAT rules, even after being informed about [...]
Singapore REITs: Do they still possess long term value? April 10, 2017 Globally, real estate investment trusts (REITs) have become a popular way for investors to invest in property while at the same time receiving an income. This is particularly true in Singapore, which has developed into a hub for REITs in Asia ever since CapitaLand Mall Trust became the first one to launch back in 2002. [...]
Trouble in store: More pain on the way for UK retail April 10, 2017 A triple-blow of tax hikes, rising costs and a squeeze on consumer spending is threatening to wipe out thousands of British retailers, with a string of familiar high street names expected to fall into administration this year. Nearly 23,000 retailers were under significant financial stress at the end of the first quarter according to insolvency [...]
Rapha co-founder and chief executive Simon Mottram on why the cycling company split from Team Sky April 4, 2017 Four years ago niche cycling sportswear firm Rapha beat German behemoth Adidas to supply the kit to the world’s best known cycling club, Team Sky. At the time, Simon Mottram, its chief executive and co-founder, felt this was the just the platform the retailer needed to take things up a gear. “We sold a lot [...]
City Moves for 20 March 2017 – who’s switching jobs at Keystone Law, MarketInvoice and Sage Group March 20, 2017 Today's City Moves cover legal eagles, peer-to-peer finance and enterprise software. Take a look at these movers and shakers: Keystone Law Chancery Lane-based law firm Keystone Law has appointed five senior lawyers across its residential property, regulatory, dispute resolution, employment and private wealth teams. Katie Cohen (pictured) will join Keystone as residential property partner. She [...]
Roboshop: How Morrisons is using artificial intelligence to stock its shops March 20, 2017 Morrisons is using artificial intelligence to stock its stores in a bid to improve efficiency and customer service. The supermarket is rolling out a system from tech firm Blue Yonder that uses artificial intelligence and machine learning to predict exactly what is needed in each of Morrisons' 491 stores. Read more: Amazon is looking for [...]
Lack of online experience at major luxury brands undermining growth opportunities March 20, 2017 Lack of senior experience in ecommerce and emerging markets could be holding back profitability at top luxury brands, according to research by executive search firm DHR. The study of the world’s top 50 luxury goods businesses found that just five per cent of board members have experience in ecommerce, and only 16 per cent have [...]