Before the bell: What you need to know before the US market open July 12, 2016 Major US markets are on a tear hitting record highs and the UK blue-chip index is in bull market territory. Here's what you need to know before the US market open at 2:30pm London time. It seems nothing can stop the equity ball rolling now, with futures pointing yet higher ahead of the open. The [...]
Amazon has soared above Buffett ahead of Prime Day July 12, 2016 Amazon is soaring ahead of one of its biggest shopping days of the year Its share price has struck an all-time high and the web giant has overtaken Warren Buffett's Berkshire Hathaway to become the fifth largest company in the world. Jeff Bezos's retail and technology giant has had a stellar year so far that just seems to [...]
The government’s public land sell-off for new homes is not running to schedule, according to the National Audit Office July 12, 2016 The government's plan to release enough public land to build 160,000 homes is not running on schedule, a report from the National Audit Office (NAO) has claimed today. The government has only sold land with capacity for 8,580 homes – and it needs to release the land for 160,000 new homes by 2020. Read more: Can [...]
Asos sales jump as customer numbers grow 24 per cent July 12, 2016 Online retailer Asos grew sales by 26 per cent in the four months to 30 June, pushing revenue up to £514.6m for the period. The company's share price was up 4.7 per cent in early trading. Sales in the UK were up 28 per cent, while US sales surged by 45 per cent. Sales in the [...]
June was a muted month for retail sales according to the British Retail Consortium and KPMG July 12, 2016 Retail sales were as damp as the weather in June as consumers stayed inside and waited for the outcome of the EU referendum. Data from the British Retail Consortium (BRC) and KPMG shows like-for-like sales fell by 0.5 per cent in June compared to the same month last year, with total growth slowing to 0.2 [...]
Shopping centre investment fell to its lowest level since 2012 during the first half of this year July 11, 2016 Investment into UK shopping centres fell sharply year-on-year in the first half as uncertainty surrounding the EU referendum troubled the retail sector. Investment transaction volumes in the sector was £1.42bn in the first half – down 27 per cent year-on-year, according to Cushman & Wakefield. The figure represents the lowest investment volume in shopping centres since 2012, as [...]
Burberry set to score a Brexit win on the weaker pound July 10, 2016 Luxury clothing brand Burberry is expected to announce better-than-expected results this week due to the fall of sterling since the Brexit vote. Analysts expect the FTSE 100 fashion brand to report a five per cent fall in like-for-like sales on Wednesday, but have adjusted profits estimates due to a weaker pound. On the day before the [...]
Steinhoff readies expected Poundland bid as deadline approaches July 10, 2016 South African retail giant Steinhoff is gearing up for an expected bid for Poundland this week, with the deadline for a possible £600m bid set for Wednesday. The Bensons for Beds owner first announced in mid-June that it was considering a bid for Poundland "without the consent of Poundland". Poundland's shares jumped over seven per cent [...]
Danone cooks up $12.5bn deal to buy alternative food company WhiteWave July 7, 2016 French dairy giant Danone has struck a deal to acquire US premium food retailer The WhiteWave Foods Company. Danone will pay $56.25 (£43.47) per share in the all-cash transaction, a premium of about 24 per cent to WhiteWave’s average close for the month. The deal has valued WhiteWave, which went public in 2012, at $12.5bn. The [...]
Asos won’t be making an Amazon-style move into physical shops July 7, 2016 Asos won't be following in Amazon's footsteps and bringing its brand onto the high-street, intending to focus on mobile sales instead. Speaking to City A.M. about whether the online retailer would ever open physical shops, Asos' chairman Brian McBride said: "It's not on our current plans. Read more: Amazon is opening its first physical bookshop McBride said the idea of [...]