Entertainment One plans to ease off on acquisitions and let Peppa Pig bring home the bacon May 24, 2016 Entertainment One (EOne) is planning to ease off on acquisitions and let Peppa Pig lead its growth. The FTSE 250 company's chief executive told City A.M. 2016 is likely to be quieter in terms of M&A. His statement comes after a shareholder last week condemned the board's acquisitions strategy. EOne chief executive Darren Throop also today talked down [...]
Before the bell: What you need to know before the US market open May 24, 2016 China is trying to smooth US trade ties after threats of a tax hike on imports from Republican presidential nominee Donald Trump and the European Commission could decide today whether to allow ABInBev to buy SABMiller. Here's what you need to know before the open at 2:30pm London time. In the pre-market futures are pointing up. The [...]
B&Q owner Kingfisher says it is still on track with its “ambitious” five-year plan May 24, 2016 DIY retailer Kingfisher posted growth in the majority of its markets in a trading update released this morning and said it was on track to deliver its "ambitious" five-year plan. The figures Total sales rose 5.1 per cent for the group to £2.73bn, including new openings in the three months to April, in line with expectations. [...]
Goldman Sachs told Arcadia bosses that Dominic Chappell had a history of bankruptcy May 23, 2016 Top Goldman Sachs banker Anthony Gutman told MPs this evening that his firm warned Arcadia Group over its sale of BHS. Gutman, co-head of investment banking services for Europe, said that Goldman offered informal advice on the sale and highlighted that Retail Acquisitions' Dominic Chappell had a history of bankruptcy. Gutman described his advice over [...]
Phones 4U founder John Caudwell is backing this mobile startup May 23, 2016 Phones 4U founder John Caudwell has put his weight behind a new mobile startup launching today which aims to simplify buying a new mobile and do away with lengthy contracts. Unshackled.com will sell phones and sims separately and has partnered with peer-to-peer lender Zopa to offer financing for the upfront cost of the device. Founded by the former chief operating officer of Phones 4U [...]
Wealthy foreign family named as potential bidder for BHS May 23, 2016 A wealthy overseas investor is reportedly in talks to save the high street clothing store BHS. The bidder has launched a new vehicle with the intention of taking over the ailing retail company within the next 48 hours, according to Sky News. Sources speaking to Sky News could not confirm the exact identity of the bidder, [...]
European grocery prices increase at slowest rate for six years May 23, 2016 The price of items in Europe's shopping-basket have risen at the slowest rate for six years, as the price war in supermarkets continues to hit grocers. As a result, shoppers are purchasing more of such grocery items including food, drinks and toiletries, with sales volumes increasing year-on-year for the eighth quarter in a row, Nielsen data [...]
Will M&S sharpen up its fashion arm? Analysts forecast profit rise as chief Steve Rowe expected announce a bumpy road to recovery May 23, 2016 Marks and Spencer may want to give its clothing lines a makeover as analysts predict a rocky road to recovery. The 132-year old retailer, which has seen its fashion division fall out of favour with the public in recent years, is expected to report a two per cent rise in pre-tax profits, but analysts suggest that [...]
Fraud with Problems: Ravelin boss Martin Sweeney talks Hailo, fake credit cards and machine learning May 23, 2016 "There’s a real tension at the heart of fraud detection: if you want to stop online fraud, just switch everything off.” Martin Sweeney is, of course, being facetious. But fraud, he impresses, has become an accepted fact of the on-demand economy. “We as consumers are accepting that most of the things we buy have a premium [...]
Crunch week as BHS seeks a fresh start May 23, 2016 BHS hopes to enter a new era this week with the business set to be sold while its administrators prepare a high court complaint against the retailer’s former boss Dominic Chappell. Administrators plan to announce BHS’ new owner in the coming days, with bids understood to have come from Matalan founder John Hargreaves, Poundstretcher, and an [...]