FTSE 100 ends the day 100 points down despite Rolls-Royce gains June 15, 2018 The FTSE 100 ended the day down more than 100 points as trade war fears reared their head again. After Donald Trump confirmed he will slap tariffs on $50bn worth of Chinese goods, London's blue-chip index closed down 131.9 points at 7,633.9. Global market sentiment was low today, but the FTSE performed particularly poorly due [...]
Sainsbury’s Asda merger makes Mayfair live worse for more after delivering £140m blow April 30, 2018 Some of Mayfair’s best-known hedge funds were today delivered a blow by Sainsbury’s as shares in the supermarket giant surged following a weekend confirmation it was holding merger talks with rival Asda. Along with other retailers, the grocer is one of Britain’s most heavily shorted stocks. Some 14.55 per cent of Sainsbury’s share capital is [...]
MPs concerned by business rates as worst year for high street looms July 6, 2018 The influential chair of the treasury select committee has expressed concern for the effect business rates have on retailers, as new figures show this year could be the worst for the high street on record. MP Nicky Morgan said today that it was clear bricks and mortar stores are “struggling to remain competittive against online [...]
Pets at Home share price leaps as lower prices pay off | City A.M. August 3, 2018 Price cuts and instore vets helped Pets at Home to increase sales in the first few months of the new financial year this morning, sending shares higher. The retailer’s share price was at a new low of 113p yesterday, but this morning’s update boosted it by 10 per cent. The figures Overall revenue was up [...]
SFO brings further charges against two people in ongoing Unaoil investigation May 22, 2018 The Serious Fraud Office (SFO) has announced that it is bringing further charges in the ongoing investigation into accusations of bribery, corruption and money laundering at Unaoil. The SFO said today that Basil Al Jarah and Ziad Akle have been charged with conspiracy to give corrupt payments to secure the award of a contract worth [...]
DEBATE: Would the Sainsbury’s-Asda merger be good for consumers? May 1, 2018 Would the Sainsbury’s-Asda merger be good for consumers? Richard Hunter, head of markets at Interactive Investor, says YES. Large deals such as these will always result in winners and losers, with suppliers and some of the competition potentially falling into the losers camp. However, it is difficult to see that consumers would be anything other [...]
Store wars: Sainsbury’s and Asda mega-merger heats up race to become Britain’s ultimate supermarket superpower April 30, 2018 The race to become Britain’s ultimate supermarket superpower grew suddenly more interesting over the weekend as Sainsbury’s and Walmart-owned Asda revealed they are in merger talks to become Britain’s largest grocer. The two supermarkets, which have both lost market share, are seeking to join forces in a bid to topple Tesco, the current market leader [...]
MPs to launch select committee inquiry into Sainsbury’s Asda merger May 20, 2018 MPs are planning their own inquiry into the tie-up of Sainsbury’s and Asda, separate to the competition watchdog’s probe. The Environment, Farming and Rural Affairs (EFRA) committee is gearing up to investigate the deal due to concerns for the impact it could have on suppliers to the supermarkets, The Mail on Sunday reported. This comes [...]
Can you Brexit-proof your investment portfolio? September 16, 2019 The future of Brexit is unknown, but investors and traders need to be proactive if they are to avoid any sudden shocks. Here’s how you might Brexit-proof your investment portfolio. The UK hasn’t left the EU yet, but Brexit is already wielding its influence over the financial markets. For the past three years, investors and traders [...]
Proxy adviser Manifest has just collapsed into administration March 16, 2018 Shareholder advisory group Manifest has today crashed into administration. Moore Stephens has been appointed as administrator of the lead proxy advisor. According to March 2017 accounts – Manifest’s latest filing with Companies House – the firm had £1.3m of debts payable within the next 12 months. Representatives for the administrators were unable to comment on [...]