All the important non-Trump news you need to know November 9, 2016 It's not all about Donald Trump beating Hillary Clinton to the White House, even though it might feel that way right now. Here's our round up of the latest non-election news you need to know. A tram crashed in Croydon Several people have been killed after a tram derailed in Croydon. The driver has been arrested [...]
What the Morrisons-Amazon tie up is doing to Tesco, Ocado and Sainsbury’s share prices February 29, 2016 Morrisons might be having a whale of a day after revealing its tie-up with Amazon this morning – but virtually the rest of the retail sector has spent the day so far in the red. Morrisons' share price soared on the news that it would be offering hundreds of products to Amazon's UK customers via [...]
Amanda Staveley’s legal row with Barclays to reach crunch point this week January 29, 2017 It's a critical week for Amanda Staveley's legal battle with Barclays, with a judge due to decide whether the City financier can have access to documents key to her case. PCP Capital Partners, the investment vehicle Staveley founded, is suing the banking giant for almost £1bn over the way it handled a 2008 emergency fundraising. PCP [...]
Every little helps Tesco take on German disruptors January 20, 2016 It seems the Big Four supermarkets are fighting back against German disruptors Aldi and Lidl, with big beast Tesco reporting better-than-expected figures for the Christmas period. Despite gloomy City forecasts, the news saw Tesco shares spike as optimism returned for the future of the embattled retailer with the turnaround being spurred by lower prices on some [...]
Tesco faces legal battle with shareholders over profits scandal January 26, 2016 Angry shareholders are poised to launch legal action against Tesco over the billions of pounds in value wiped off the supermarket chain in 2014 following revelations of its £265m profits black hole. Law firm Stewarts Law said it will shortly be writing to the company on behalf of institutional shareholders as the prelude to formal legal action, which will seek to [...]
Volkswagen shares crash in line with brand woe January 18, 2017 With consumer-facing companies that rely heavily on a single brand there is often a strong relationship between public perception of that brand as measured daily by BrandIndex, and the company’s share price. An example of this is Volkswagen and its emissions scandal where the fundamental driver of the decline in its share price was a [...]
Ultimate Products’ London IPO has been priced at £105m ahead of it joining the main market next week March 1, 2017 Ultimate Products' offer price has been set at 128p, which will equate to a market capitalisation of approximately £105.2m. The offer comprises 41,084,800 shares, representing 50 per cent of the company’s issued share capital on admission. Shore Capital is acting as sponsor, global co-ordinator and bookrunner to the Company, and Cenkos is acting as joint bookrunner. [...]
Real wages are on the wane and it’s only going to get worse, say accountants November 7, 2016 Sterling’s post-Brexit vote collapse is hitting Britons where it hurts the most. In the pocket. Inflation is outstripping wage growth as businesses are forced to pass on increased costs associated with sterling’s slump to consumers, according to a report prepared by accountants BDO. “Rapidly rising inflation is quickly going to hit the pockets of UK [...]
Boards still in denial over cyber risk, as bosses keen to pass the buck November 14, 2016 Boards still have their heads buried in the sand when it comes to cyber security, a new survey has found. The research commissioned by NCC Group, and seen exclusively by City A.M., found that just 13 per cent of chief executives thought they needed to take responsibility for the level of cyber risk in their company. [...]
Supermarket sales continue to edge upwards in the months following the Brexit vote September 20, 2016 Supermarket sales continued to edge upwards this month, increasing by 0.3 per cent for the three months ending 11 September. The growth was against a backdrop of price deflation of 1.1 per cent. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, said: “While overall sales growth has been slow, consumers have been keen [...]