No, vinyl isn’t bigger than digital downloads – but it could easily outlive them December 9, 2016 Earlier this week, a story did the rounds which prompted some debate in the UK music world. This is the news from Entertainment Retailers Association (ERA), which suggested digital music had been beaten in sales by that stubborn old minx, vinyl, for the first time since its inception. A rare positive tale of a physical [...]
A bananas deal: Fyffes is bought for €751m, so here’s a few things about bananas industry you might not know December 9, 2016 Who would have thought bananas could be such a lucrative investment? Shareholders in Irish banana giant Fyffes certainly found their investment into the firm rather a-peeling, netting a healthy 50 per cent plus return from today's share price uplift alone. Read more: Sumitomo goes bananas for bananas The rocketing share price was a result of the board of [...]
Why this is a disqualifying offence for a value investor December 9, 2016 Some people apparently just will not be told. While past performance is no guide to the future, despite all the evidence a value-based approach outperforms over time, investors’ money is increasingly clustering in more non-value-oriented offerings – sometimes known as ‘growth’ but probably more accurately called ‘momentum’ funds. The current situation is starkly illustrated by the following [...]
Food and drink representatives want special protections for their EU workers guaranteed in Brexit negotiations December 9, 2016 Food prices will rise if EU workers employed in the food and drinks industry are forced to leave, representatives of the sector today warned. More than 30 food and drink bodies came together to call on the government to give "unambiguous reassurance" to EU workers they can stay and work in the UK after Article [...]
Spreadbetters hit again as German regulator announces a clampdown December 8, 2016 Times got tougher for spreadbetters today as the German regulator revealed plans for more red tape for the market. Bafin's announcement that it is preparing to apply more rules to the market for contracts for difference (CFDs) comes just two days after the Financial Conduct Authority (FCA) unveiled similar plans. In particular, Bafin is concerned price fluctuations might [...]
Sears sales fall as bosses warn they have no clue when department store group will return to profit December 8, 2016 US department store chain Sears reported its fifth consecutive quarterly loss today and warned investors it cannot guarantee when it will return to profitability. Total revenue at the retailer fell 14.3 per cent to $5bn (£4bn) in the third quarter, down from $5.8bn in the same period of last year. The drop was driven by [...]
Mulberry profits hit by weak sterling December 8, 2016 Revenues were up in the first half of the year for luxury handbag brand Mulberry – but profits were dented by the weak pound, it said today. The Somerset-based manufacturer said revenues rose 10 per cent to £74.5m in the 26 weeks to the end of September, up from £67.8m the year before – but it [...]
Gotta catch ‘em all: how extreme collectors hunt down the world’s rarest watches December 8, 2016 In a thankfully deserted café near the river in Battersea, my acquaintance extracts an unassuming plastic shopping bag from a rucksack. From inside it, he unfurls 12 wristwatches, laying each one gently on the table; were the sole waitress present paying us any attention, she might think it a rather suspicious scene – even more [...]
Ocado reports sales growth in final quarter December 8, 2016 Ocado has reported growth in sales and order numbers during the 16 weeks to 27 November, with year end sales up 15.1 per cent – but shares in the firm dropped almost four per cent at the market open. The grocery delivery service said group sales were up 14.5 per cent in the fourth quarter, from [...]
Byron Hamburgers to get new big cheese chairman in former Morrisons boss Dalton Philips and new chief exec December 7, 2016 There will be a new chair at the table at Byron Hamburgers this week, when former Wm Morrison boss Dalton Philips will be appointed chairman of the up-and-coming restaurant chain. The appointment could come as soon as tomorrow, Sky News reported. It will be Philips' biggest corporate role since leaving the supermarket at the beginning [...]