Retail fund sales turned positive in August October 3, 2016 Retail fund sales became positive in August for the first time since April, as net retail sales hit £1.7bn. According to Hargreaves Lansdown, this was due to £1.2bn of inflows into fixed income funds. There was an outflow of £629m from equity funds. Read more: Standard Life will re-open its property fund in October Property [...]
O2 IPO set to call on retail investors October 2, 2016 Mobile network O2 is planning on making millions of shares available to retail investors when it lists later this year. It’s hoped demand from O2’s 25m strong customer base will push up the stock market value of the company to around the £10.25bn that O2 owner Telefonica agreed to sell the business to Three owner [...]
Liberty owner teams up with Jack Wills founder to buyout fashion chain October 2, 2016 The owner of the Liberty department store in London has joined forces with the founder of Jack Wills as part of a multi-million pound buyout of the clothing empire. The fashion chain's joint shareholders are now the private equity firm which owns Liberty, BlueGem Capital Partners, alongside Jack Wills' founder and chief executive, Peter Williams. Read more: Liberty [...]
US economy set to feast out on super-size food exports September 29, 2016 The US economy is set to come roaring back to life in the second half of the year on the back of a bumper summer food harvest. Figures out this afternoon showed the world's largest economy grew by 1.4 per cent on an annualised basis in the second quarter of the year – a slight upwards [...]
Before the bell: What you need to know before the US market open September 29, 2016 Oil has given up some of its gains after the first Opec deal to curb supply in eight years sent it higher last night and it's not just Deutsche Bank that's in trouble as Commerzbank announces nearly 10,000 jobs are set to go. Here's what you need to know before the US market open at 2:30pm [...]
Before the bell: What you need to know before the US market open September 28, 2016 Germany has been forced to deny reports of a possible Deutsche Bank bailout after investors abandoned the troubled bank and megabrew is on after investors voted to approve the deal. Here's what you need to know before the US market open at 2:30pm London time. US futures are pointing up ahead of the open, though not by [...]
“Sainsbury’s footfall is falling short” – analysts react to the retailer’s trading update September 28, 2016 Sainsbury's issued a 1.1 per cent fall in like-for-like sales this morning, and analysts' reactions have been pretty scathing. The retailer boosted its volumes, but the supermarket price war has eroded any benefit Sainsbury's might have wanted to see in its like-for-likes as a result. Sainsbury's share price has dropped 3.67 per cent today following [...]
Hunter Boot reports 19 per cent revenue growth as North America goes mad for wellies September 28, 2016 Hunter Boot, the company behind the iconic wellies beloved of countryside dwellers and fashionable festival goers, has reported a jump in revenue in 2015, driven by strong sales on the other side of the pond. Revenue grew by 19 per cent to £113.7m, up from £95.7m in 2014, off the back of a 33 per cent increase [...]
Sales drop at Sainsbury’s in second quarter – but Argos is growing September 28, 2016 Sainsbury's reported at drop in sales during the 16 weeks to 24 September, despite transaction growth and flat fuel sales – but Argos posted a strong performance for its second quarter. The company's share price had fallen by 3.03 per cent in mid-morning trading. The supermarket posted a 1.1 per cent decline in like-for-like sales, [...]
Weak pound draws tourists to London’s Westfield centres September 28, 2016 Westfield shopping centres have been inundated with Chinese customers bulk buying Burberry handbags on the back of the weak pound. In July, Chinese spend in Westfield Stratford jumped 116 per cent year on year. Chinese spend in Westfield London, White City, increased by 16 per cent. Read more: Westfield Stratford set for more visitors in [...]