Barclays fears Amazon and Google threaten traditional banks June 10, 2014 Customers will soon use tech firms like Amazon, Google and PayPal instead of banks, Barclays’ chief Antony Jenkins said today, promising to innovate more to compete with digital giants. The sector is already being shaken up by new banks being established, and big firms like Tesco offering current accounts. But Jenkins believes the [...]
Tesco Bank current account finally checks in June 9, 2014 After six years of delays, glitches and excuses, and a cool £600m splashed on the project… BRITONS can today open current accounts with Tesco Bank as the retailer at last becomes a fully functioning challenger to the big banks. The long-awaited milestone comes at a tough time for Tesco, which hopes a stronger banking arm [...]
Sainsbury’s to expand clothing sales by trialling online launch June 9, 2014 Sainsbury is to take on its high street and supermarket rivals by selling its clothing brand Tu online for the first time. The retailer said yesterday that it will pilot selling clothing to around 200 “invited” customers in the Midlands in August, which if successful would then be rolled out nationwide. It comes after people [...]
Sainsbury’s to trial selling clothing online June 9, 2014 Sainsbury is to take on its high street and supermarket rivals by selling its clothing brand TU online for the first time. People close to the company previously said that clothing margins were too low justify delivering clothes bought online to customers. However in a statement yesterday Sainsbury’s said it will pilot selling [...]
VEC lands third British e-cigarette company as industry booms June 9, 2014 US Victory Electronic Cigarettes (VEC) has acquired its third British e-cigarette company in six months for $104m (£62m). Ten Motives, one of the largest and fastest growing e-cigarette companies in Europe, was founded in 2008 by former telecoms Art Devlin. Ten Motives has long term relationships with leading retailers, such as Sainsbury’s, Tesco and Bargain [...]
VEC lands third British ecigarette company as industry booms June 9, 2014 US Victory Electronic Cigarettes (VEC) has acquired its third British ecigarette company in six months for $104m (£62m). Ten Motives, one of the largest and fastest growing ecigarette companies in Europe, was founded in 2008 by former telecoms Art Devlin. Ten Motives has long term relationships with leading retailers, such as Sainsbury's, Tesco and Bargain [...]
The week in brief June 8, 2014 UK E&M market to be worth £64bn by 2018 According to PwC’s latest Global entertainment & media (E&M) outlook report, the UK E&M market is expected to grow by 3.1 per cent from 2013 to 2018 – to a value of £64bn in 2018. In 2013, Britain had the second largest E&M market in Europe, [...]
After share price crash Asos warns on profits and investors slam Morrisons June 5, 2014 SOME of Britain’s biggest retailers were left reeling yesterday after a profits warning from Asos spooked investors and supermarket bosses came under a fierce verbal attack from angry shareholders. Asos shares crashed 31 per cent, wiping £1.2bn off its market value, after the online fashion retailer warned that a strong pound and a rise in [...]
Bottom Line: Everyone loves a sale – and Asos shares are in middle of a big one June 5, 2014 ALMOST every other day, Asos customers are sent promo emails alerting them to the latest offer on the retailer’s vast fashion website: 25 per cent off dresses; save on festival fashion; free delivery on men’s hats. Yesterday, the tables were turned. Investors hit the sell button on Asos shares, sending them into freefall to end [...]
Best of the Brokers for 06 June 2014 June 5, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com POUNDLAND JP Morgan, which last month won the joint broking mandate for Poundland, has upgraded the retailer from “neutral” to “overweight” with an unchanged price target of 377p. The broker thinks the effects on Poundland of Tesco’s pound aisle trial are likely to [...]