Lloyds Banking Group is axing 1,755 more jobs and closing 29 branches of Lloyds, Bank of Scotland and Halifax February 3, 2016 More than a thousand jobs will go at Lloyds and 29 branches will close in its latest round of cuts designed to reduce its workforce by 10 per cent by 2017. The axe will fall on staff at Lloyds' retail businesses as well as commercial banking, consumer finance and legal departments. Around 1,000 jobs went at the end [...]
Why Matchesfashion.com’s chief executive Ulric Jerome is on the way to world fashion domination February 3, 2016 Matchesfashion.com’s French-born chief executive Ulric Jerome has grown up surrounded by fashion since the time his designer label of choice was Pampers. His father ran a family business in haute couture while his mother used to work at fashion bible Vogue. But when the founders of the luxury retailer Matchesfashion.com, Tom and Ruth Chapman, approached [...]
Clydesdale Bank share price trades above opening offer as conditional trading starts on IPO after 24-hour delay February 3, 2016 Clydesdale Bank’s shares were trading just above their offer price as its IPO got underway after a 24-hour delay. The bank's shares were worth 183.5p at 9:43am in early conditional trading in London, slightly above the 180p opening value. National Australia Bank (NAB), which sold off the Clydesdale and Yorkshire Bank Group (CYBG), priced shares at 180p per [...]
Eurozone economy comes off the boil in January despite rebound in end-of-year retail sales February 3, 2016 The Eurozone's economic recovery slowed in January, but remains at a steady pace, new figures show today. Markit's economy-wide purchasing managers' index – compiled from a survey of firms – dropped to a score of 53.6 in January from the previous month's 54.2. While the figure is still above 50, which means the economy grew last month, it [...]
Poundland launches gardening range with celebrity TV presenter Charlie Dimmock February 3, 2016 Green-fingered shoppers and fans of a bargain rejoice. Poundland has joined forces with celebrity gardener and TV presenter Charlie Dimmock to create a new range of gardening tools, the retailer announced today. The Charlie Dimmock range, which launches on 29 February, will feature 130 lines of gardening essentials ranging from hand tools and heavy duty gloves to hanging bird feeders and [...]
How Argos will help Sainsbury’s rival Amazon after Home Retail Group deal February 2, 2016 Sainsbury’s purchase of Home Retail Group has been everywhere, but only half the story is being told. Arguably the most important half of the picture is what’s being missed. The real impact will not be solely in-store, but the online, logistical and fulfilment capabilities it unlocks for Sainsbury’s. It could well be what drags the [...]
Findel dashes Mike Ashley’s hopes after selling Kitbag to American buyer February 2, 2016 Findel has offloaded its replica football shirt business Kitbag to an American firm for £11.6m, putting an end to Mike Ashley’s hopes of buying the subsidiary. The home shopping retailer said it has completed the sale to Fanatics, a US sportswear firm, more than a year after putting the sports strip retailer on the market. [...]
Ocado share price jumps as it makes its second-ever profit – and says it is “confident” of signing a big deal February 2, 2016 Ocado has reported its second-ever pre-tax profit, which jumped 65 per cent in the year to the end of November. And the company was dropped a couple of hints which could relate to those rumours of a tie-up with a certain giant ecommerce site… The figures In a statement today, Ocado said gross retail sales rose to £1.1bn in 2015, up 14.7 per [...]
Sainsbury’s share price rises as it paves the way for Argos takeover with £1.3bn bid for Home Retail Group – and HRG board is backing the deal February 2, 2016 Sainsbury's has made an 11th hour offer for Home Retail Group, upping its bid to a total of £1.3bn. Under the terms of the deal, Home Retail Group investors will received 0.321 Sainsbury's shares and 55p in cash per share. They will also receive around 25p per share and a further 2.8p instead of the dividend due to [...]
Sainsbury’s set for £1.3bn Argos deal: Supermarket and Home Retail Group could announce agreement today February 1, 2016 Sainsbury's is close to clinching a £1.3bn deal to buy Home Retail Group after improving its offer ahead of today’s deadline. The supermarket chain made an initial bid of around £1bn for the Argos owner in November, saying a combination of the two businesses would create a retail empire to rival John Lewis and Amazon. [...]