Barclays sells UK secured lending portfolio September 7, 2015 Barclays has sold off another of its non-core assets, just days after offloading most of its Portuguese business. The bank has now sold its UK secured lending portfolio to a group led by Goldman Sachs for an undisclosed sum, which it said would reduce its risk-weighted assets by £1.2bn and improve its capital ratio. Read [...]
Tesco’s share price rises as it agrees to sell Korean arm Homeplus to consortium of investors led by MBK for £4.2bn September 7, 2015 Tesco's share price opened up this morning after revealing it has agreed to sell its South Korean arm Homeplus for £4.2bn to a consortium of investors, led by MBK Partners, the beleaugered supermarket has confirmed. The consortium also includes the Canada Pension Plan Investment Board, the Public Sector Pension Investment Board and Temasek. [...]
German industrial production rises 0.7 per cent in July, underperforming expectations September 7, 2015 Germany’s industrial production rose 0.7 per cent month-on-month in July, a slower rate than expected, according to data from Deutsche Bundesbank. Economists had expected a rise of 1.1 per cent, according to economists surveyed by Bloomberg. Read more: Non-EU markets boost German export surplus as euro weakens However, in an optimistic signal, industrial production was [...]
Tesco: What assets has it sold and what’s left at the checkout after £4bn South Korea Homeplus sale? September 7, 2015 Tesco has bagged up another asset, adding a nice £4.2bn to its coffers from the sale of its South Korean Homeplus business to a consortium of investors, it was revealed today. It's a major milestone in the supermarket's efforts at fixing its balance sheet – here's how it's progressing so far. Bagged up South Korea [...]
Even Primark can’t save Associated British Foods from a drop in profits this year, as sugar and currency woes hit the business hard September 7, 2015 Associated British Foods (ABF) has confirmed its adjusted operating profit will decline for the full year as its has failed to offset challenges in its sugar division and currency headwinds. Operating profit at constant currency will be ahead of last year for grocery, agriculture, ingredients and retail, ABF said this morning. The firm's share [...]
Washout August bank holiday weather leads to record online spending September 6, 2015 Online spending growth hit a four-year high in August as the wet summer weather drove more people to shop from the comfort of their homes. Figures released today based on credit and debit card transactions from Visa Europe show online retailers enjoyed a 10.7 per cent jump in the spending year-on-year in August, the [...]
Bank to announce rates decision as China woes weigh – London Report September 6, 2015 THE BANK of England will be centre of attention on Thursday when it provides a simultaneous release of its monetary policy decision and minutes from its monetary policy committee (MPC) meeting. The MPC is almost certain to keep interest rates unchanged at 0.5 per cent, with worries about China and oil price declines meaning other [...]
The fall of the metrosexual: Hairy hipsters drive down sales of male grooming products September 4, 2015 Forget preening metrosexual types like David Beckham – these days it's all about the lumbersexual, whose hirsute, rugged appearance has pushed sales of male grooming products down, according to new figures. Research by Kantar Worldpanel has suggested that although sales of male grooming products grew by five per cent in the summer of 2012, compared [...]
Night Tube series: Top seven places to buy a house in London along the Jubilee Line September 4, 2015 With the Night Tube delayed for the time being, now is the best time to consider buying in an area that’s set to benefit from it. Research shows that when new transport links come in, house prices only rise once the trains start running so it’s worth taking a punt before the asking prices shoot [...]
McColl’s sales boosted by new store launches September 4, 2015 NEWSAGENTS and convenience store group McColl’s said total sales rose by three per cent in the third quarter as it expanded its footprint, despite suffering a drop in sales at stores open more than a year. The London-listed company, which made its market debut last year, said like-for-like sales dropped by 2.3 per cent in [...]