The global e-cigarette market is set to be worth $32bn by 2021, and the UK market will grow to $5.67bn December 14, 2016 The global electronic cigarette market is set to be worth $32bn (£25bn) by the year 2021, while the UK market grows to $5.67bn (£4.46bn), a new report suggests. The "tremendous" growth rate of vapour products is due to increased popularity in North America, particularly the US, and European countries including the UK, a new report by Beige Market Intelligence [...]
Zara owner Inditex announces profit rise amid ongoing global expansion December 14, 2016 Inditex, the owner of various fashion brands including Zara and Bershka, has announced a nine per cent rise in its nine-month profit. Net profit reached €2.2bn (£1.85bn), and gross margin was 57.9 per cent. The Spanish retailer's earnings before interest, tax, depreciation and amortisation (Ebitda) increased 8.4 per cent, hitting €3.6bn. Read more: Zara owner [...]
There may be trouble ahead: Dixons Carphone shares fall as it prepares for “uncertain times” December 14, 2016 Shares in Dixons Carphone fell 4.6 per cent in early trading after it said it was steeling itself for "uncertain times" in the months ahead. The figures Revenues in the six months to the end of October increased four per cent on a like-for-like basis to £4.9bn, it said in a statement today. Profit before tax [...]
M&S chairman Robert Swannell is leaving December 13, 2016 Marks and Spencer's chairman Robert Swannell is retiring in 2017, the company announced this morning. He will continue in his role until a replacement is found. Vindi Banga, senior independent director at M&S, will be leading the search for a new chairman. Swannell said: “A year ago we chose Steve Rowe as our chief executive. Steve [...]
Consumers are going to spend a record amount on supermarket premium ranges this Christmas December 13, 2016 Consumers have been preparing to taste the difference this Christmas as they stock up on supermarkets' premium own label brands. Data from Kantar Worldpanel showed that during the three months to the end of 4 December, shoppers spent 13 per cent more on brands such as Tesco Finest and Asda Extra Special than they did the year before. Read more: These [...]
Lloyds Bank share sale raises further £0.5bn to repay taxpayer December 13, 2016 The government has sold off another slug of its shares in Lloyds Bank, meaning the state now has an interest of less than seven per cent. More than £17.5bn has been recovered of the £20.3bn forked out by the taxpayer, the Treasury said this morning. The sale follows the previous auction in November that took recoveries to [...]
Barclays says au revoir to French retail division in latest non-core asset sale December 12, 2016 Barclays has today agreed to sell its French retail business, marking the bank's final departure from retail operations in continental Europe. The lender has agreed to sell the 74 retail branches, life insurance business, wealth and investment management arm, and brokerage operations in France to private equity firm AnaCap Financial Partners. No price was disclosed for the deal, but Barclays noted [...]
Asos is creating 1,500 new jobs at its Camden headquarters December 12, 2016 Asos has proven online fashion retail is still firmly en vogue – after it said it wants to create another 1,500 jobs at its Camden headquarters, and is taking another 40,000 sq ft to house them. The roles will stretch across disciplines including technology, marketing, content and retail, it said this morning. That means it [...]
This business scanning women’s feet to make heels that don’t hurt December 12, 2016 Leaving for work in the morning, a City worker will check they have their keys, wallet, and phone. And some of them will also check that they've packed their shoes. Many women in the City bring a second pair of shoes because the ones they wear in the office aren't actually suitable for walking in. It's [...]
Spreadbetters wary of fresh clampdowns from watchdogs December 11, 2016 Spreadbetters are likely to be watching their backs this week, as financial watchdogs crack down on their market. The UK's Financial Conduct Authority (FCA) last Tuesday revealed it was planning to impose stricter rules on contract for difference (CFD) products, saying it was concerned customers did not fully understand the risks involved. German regulator Bafin followed suit [...]