Burberry shares plunge as it blames tourist tax for luxury slowdown November 16, 2023 Burberry hit out at the government's decision to scrap the tourist tax and revealed a six per cent loss year-on-year in profit.
Citigroup to sell China consumer wealth business to HSBC October 9, 2023 Citigroup said on Monday it had agreed to sell its China consumer wealth portfolio, including clients, assets under management (AUM) and deposits, to Asia-focused HSBC Holdings Plc. The deal covers total deposits and investment AUMs of about $3.6 billion, and is expected to close in the first half of 2024. Financial details of the transaction [...]
Joules calls in administrators as rescue talks collapse November 14, 2022 Fashion and lifestyle firm Joules announced it had called in administrators and suspended trading on the London Stock Exchange this morning after emergency rescue attempts failed last week.
Asda kicks debt worries into the next decade after £3.2bn deal May 3, 2024 Asda has pushed its debt worries into the next decade after it refinanced more than £3.2bn of its debt, it has been announced.
New Look to warn landlords it could collapse without further rent cuts September 12, 2020 New Look will warn landlords next week that it could go bust if it isn’t granted further rent cuts. The high street brand has almost 500 stores across the UK and employs more than 12,000 people. It is set to propose its second company voluntary arrangement (CVA) within two years after its sales suffered as [...]
THG signs fulfilment deal with Holland & Barrett and sees Q4 sales growth January 16, 2024 THG saw revenue growth of 1.1 per cent across the ‘golden quarter,’ it told markets this morning. Group revenue hit £597.9m in the quarter, with sales across the full financial year ending in December at £1.98bn. THG’s Q4 performance represented the best quarter of this financial year and the firm this morning hailed a “pleasing [...]
Ben & Jerry’s owner Unilever warns of shoppers buying less as inflation bites budgets October 27, 2022 Dove maker Unilever has seen consumers buying less of products after price hikes, as the consumer goods titan has ushered in record price rises. Prices increased by 12.5 per cent in the period, the brand’s highest ever hike, as consumers battle cost increases in every corner of life. The London-listed consumer goods giant admitted price [...]
European Green Transition hits London Stock Exchange on rare metal hopes April 8, 2024 The self-described ‘green economy asset developer carries a market capitalisation of £14.5m.
Tesco, Sainsbury’s and Greggs join forces to lobby Sunak to slash business rates May 3, 2022 Supermarket giants have reiterated calls for a cut in business rates as firms endeavour to keep prices competitive for shoppers amid rising inflation. Big names including Morrisons and Co-op have come together under a new Cut the Shops Tax campaign, organised by the Retail Jobs Alliance. In a joint letter to Chancellor Rishi Sunak, bosses [...]
Toy subscription service Whirli raises £4m seed funding round December 15, 2020 A London-based toy sharing subscription service has raised £4m in its seed round led by Octopus Ventures just in time for Christmas. Rather than a usual subscription service, Whirli subscribers borrow toys instead of purchasing them and any unloved or outgrown toys can be sent back and swapped for another item. Whirli’s service, which starts [...]