Sainsbury’s half-year profit plunges 92 per cent November 7, 2019 Sainsbury’s has suffered a 92 per cent drop in half-year profit, as costs from store closures took a toll on the grocer’s balance sheet. Read more: Sainsbury’s former boss wants government to halve business rates and raise VAT The figures Statutory pre-tax profit fell from £107m last year to just £9m in the three months [...]
Can business models like Wework’s really work? November 7, 2019 Flexible businesses can, by their very nature, roll with the punches and evolve as their customers do. But the recent pace of change at WeWork has shown that even the most flexible of businesses can be at risk. Those of us in the property industry cannot fail to have noticed how WeWork has become central [...]
Dirty data deals on the dark web are a risk to business November 7, 2019 Five years ago, you’d be hard-pressed to find anyone who had even heard of the dark web. Now this realm of mystery is the topic of books and films – not to mention daily headlines alongside news on the latest cyber breach. It’s got a reputation as the “go to” place for buying anything illegal, [...]
Brexit may bring uncertainty, but a Corbyn-led government is a bigger threat November 7, 2019 Where the Brexit vote differs from other political shocks is that three years on, the uncertainty has yet to subside. We’ve learnt little since 2016 about what our long-term relationship with the EU will look like. The Prime Minister now has a deal, but that’s only the start. Unlike the focus group stunned into silence [...]
Rugby World Cup: Why the legacy of Japan’s tournament will live on November 6, 2019 The Rugby World Cup may have ended without the ultimate prize for England last weekend but the tournament itself created winners beyond those in the triumphant South Africa camp. The decision to choose Japan as host nation, ahead of bids from Italy and the eventual winners, appeared bold back in 2009. With the benefit of [...]
Monzo’s ‘hot coral’ colour trademark attempt rejected November 6, 2019 Online bank Monzo’s attempt to trademark its distinct “hot coral” colour has been rejected. The fast-growing fintech firm’s application to register the bright signature colour as its own was turned down by the intellectual property office. The move, first reported by Financial News, was an attempt to protect the brand’s image against a number of [...]
Competition and Markets Authority approves £1.4bn Unite Students acquisition of Liberty Living November 6, 2019 The UK competition watchdog has approved the £1.4bn acquisition of student accommodation provider Liberty Living by rival firm Unite Students. The Competition and Markets Authority announced today that it has decided not to escalate its investigation into the merger to a stage two inquiry after seeking comment from interested parties on whether the take over [...]
Intu braced for income drop as retail CVAs take a toll November 6, 2019 Shopping centre owner Intu is expecting to report a sharp drop in rental income for 2019 after a higher-than-anticipated volume of insolvencies from its occupants. Shares in the group tumbled 13 per cent after the bell this morning as the real estate giant revealed that it might have to sell off assets or make a [...]
Does WeWork spell the end of the unicorns? November 4, 2019 WeWork has undergone a dramatic fall from grace recently. Just two months ago the office rental start-up was expecting to offer shares to the public at a total business valuation of $47 billion. This soon halved and then investors rapidly pulled their support for an initial public offering (IPO) above $12 billion. The IPO was [...]
Sir Philip Green in talks to secure £300m by Christmas November 3, 2019 Embattled retail magnate Sir Philip Green is in talks with lenders about borrowing more than £300m that he needs by Christmas to pay off a loan secured against his flagship Oxford Street Topshop store. Read more: Sir Philip Green’s Arcadia reveals huge losses amid CVA controversy Among the possible suitors is US private equity company [...]