Evans Cycles owner ECI Partners applying the brake after slowdown in bike sales July 19, 2016 Evans Cycles is in talks with banks to overhaul its financing arrangements following industry-wide fears the bicycle market is peaking. The cycling chain, which is owned by private equity group ECI Partners, has initiated discussions with its lenders after a slowdown in UK bike sales, Sky News first reported. Crawley-based Evans Cycles has 63 stores [...]
Shot in the Arm for the City as £24bn mega-deal is agreed July 19, 2016 British tech giant Arm Holdings yesterday agreed to a £24.3bn takeover by telecoms group Softbank, in a move that would go down as the second largest outbound Japanese deal on record. Softbank has pounced for the Cambridge-based chip-maker following a sharp drop in the value of the pound, largely prompted by last month’s vote to leave [...]
Arm Holdings is just the start of a great British asset sale July 18, 2016 The UK’s vote to leave the EU was seen by some Brexiteers as a chance to reclaim the country’s borders, draw up a new fortress UK, as well as make a protest vote against the rise in inequality after the financial crisis. But in the investment markets, the drawbridge has already been lowered. Thanks to [...]
Young people actually prefer physical shops more than any other age group July 18, 2016 The success of online retail is less dependent on iPhone-obsessed millennials than you may think, according to new research by British Land. Young people are actually more likely to visit an physical shop than any other age group. They are also most likely to browse items in a physical store, and order online later if what they want isn't in stock. [...]
British Land says investors will be cautious after the Brexit vote July 18, 2016 FTSE 100-listed commercial property giant British Land said this morning it expects investors and occupiers to take a cautious approach to property in the aftermath of the Brexit vote. The figures Since the EU referendum vote, British Land has secured the sale of Debenhams' Oxford Street store for £400m and the company has made 17 long-term retail leases totaling 58,000 sq ft, for [...]
Supermarkets face “fake” farms complaint from farmers July 17, 2016 Supermarkets are under fire over the use of "fake" farms to promote products to customers and farmers have now lodged an official complaint with authorities over the use of the branding my supermarkets. The National Farmers Union (NFU) has filed a formal complaint with Trading Standards over the use of names such as "Woodside Farm" by Tesco, arguing they are [...]
Oil prices shake off losses after strong US economic data July 15, 2016 Oil prices crept into positive territory this morning, as official data pointed to solid demand in the world's largest economy. The Commerce Department said retail sales growth accelerated in May. Meanwhile, a separate release showed inflation rose for the fourth consecutive month. Read more: Oil slide leads to call from RAC for savings on the forecourt This [...]
Pokemon Go: What can mobile gaming learn from Pokemania? July 15, 2016 From a mass of people cradling their phone in the streets, to office chatter being centred around one trend and everyone's Facebook feeds filled the brim of it, no-one can get enough of Pokemon Go. That's why near half a million people in the UK alone have downloaded it, sending it to the too of the app store [...]
Strewth: John Lewis is going Down Under July 15, 2016 Brits will soon be able to travel to the other side of the world safe in the knowledge that they won't be far away from their favourite range of Egyptian cotton pillowcases and cashmere jumpers. That's right – John Lewis is going Down Under. The retailer is to open six shop-in-shops in Australian department store Myer. [...]
MPs have accused Volkswagen of acting unfairly by not compensating UK car owners July 15, 2016 Volkswagen has acted in a "deeply unfair" way in its decision not to compensate UK car owners affected by the emissions scandal, a group of MPs have said. MPs on the Transport Select Committee said that it was unfair VW car owners in the US will be compensated, but would not in the UK. In [...]