Now the pensions watchdog is taking a closer look at the rest of Green’s empire July 31, 2016 Sir Philip Green may have a fresh set of questions to answer, as the pensions watchdog has launched a probe into the Arcadia Group. The Pensions Regulator (TPR) is already looking at whether it can demand Green foots the bill for the blackhole in the BHS pension scheme. Now, The Sunday Times has reported TPR is investigating [...]
Hot tub sales are bubbling in the luxury home leisure market July 29, 2016 It seems like a bit of a stretch to call it a "must have" item, but hot tubs are apparently all the rage after sales boomed in 2015. In a bubbling segment of the home leisure market, hot tub sales grew 20 per cent on 2014 figures, according to the British and Irish Spas and [...]
Petition to block M&S’ pay cut plans draws over 20,000 signatures in three days July 29, 2016 Pressure is mounting on M&S' chief executive Steve Rowe to cancel a pay cut for his staff as an online petition to block the plan has received nearly 20,000 signatures in three days. The company is consulting its staff over cutting premium pay on Sundays, and cuts to pay for bank holidays and employees working at anti-social hours, which could [...]
Discount supermarkets set to benefit as consumer confidence falls through the floor after the Brexit vote July 29, 2016 Discount supermarkets are set to win big on Brexit as consumer confidence falls through the floor. UK consumer confidence dropped by 11 points in July – the biggest monthly fall for over 26 years, according to GfK. GfK’s consumer confidence index is now at -12, and dicount supermarkets could be the ones to benefit. A [...]
City Moves for 29 July 2016 | Who’s switching jobs July 29, 2016 Gumtree Gumtree, the UK’s largest classifieds website, has recruited Matt Button to the newly created role of head of customer relationship management. Matt will work with the Gumtree marketing team and its agencies to devise and deliver a CRM strategy that acquires and retains customers across all its categories. The strategy will be focused on engaging customers [...]
Amazon’s results have been boosted by growth in its cloud computing services and its second annual Prime Day July 28, 2016 Amazon has been boosted by growth in cloud computing to record better-than expected earnings. The web retailer saw revenues climb 31 per cent to $30.4bn, above analyst forecasts of $29.6bn and up from last year's equivalent figure of $23.2bn. Its Amazon Web Services business recording saw takings up 58.2 per cent to $2.83bn. Amazon also reported [...]
Before the bell: What you need to know before the US market open July 28, 2016 Last night the US Federal Reserve signalled the way to an interest rate rise before the US Presidential Election and investors are busy digesting the flood of earnings reports. Here's what you need to know before the US market open at 2:30pm. The pre-market is pointing lower ahead of the open but looks to be broadly [...]
A sign of things to come? Countrywide shares leap despite pre-Brexit housing market slowdown July 28, 2016 The UK's largest estate agent said it had been hit by a slowdown in housing transactions in the run-up to the EU referendum. Is this a sign of things to come? The figures Countrywide said adjusted pre-tax profits fell 25 per cent to £21.8m in the six months to the end of June, although total income rose nine per cent to [...]
Sales light up at Big Four cigarette maker British American Tobacco but profits fall in mixed results July 28, 2016 Revenues were up but profits were down in a mixed bag of results for the Big Four cigarette maker British American Tobacco (BAT). The figures Turnover at the Pall Mall and Dunhill maker was up by 4.2 per cent reaching £6.7bn in the six months to 30 June. However, adjusted profit from operations were down 2.2 per cent, reaching [...]
Retail sales fell at the fastest rate in more than four years in July as Brexit worries cast a shadow on the high street July 27, 2016 Retail sales fell at their fastest rate for over four years this month, according to the Confederation of British Industry (CBI). CBI's Distributive Trades Survey found sales volumes fell faster than at any point since January 2012. Weak consumer confidence after the Brexit vote was likely the largest factor contributing to the decline, CBI said. [...]