Tube strikes: Bosses warn of ‘hammer blow’ to London trade as dispute drags on September 26, 2023 Business chiefs have warned that rail strikes set to take place in next week will deal another “hammer blow” to trade in the capital as the cost of rail strikes on City businesses continues to rise.
Despite economic gloom more than 800,000 new firms were created this year September 26, 2022 More than 800,000 new firms were created this year despite economic turmoil and grim prospects for the immediate future. Online shopping was a key driver for the 98,000 new retailers which popped up in wake of the pandemic, as Covid unleashed a wave of entrepreneurialism. Figures from private equity firm Growthdeck show 808,000 new businesses [...]
John Lewis posts £92m loss after ‘unprecedented cost inflation’ September 15, 2022 John Lewis Partnership has posted a £92m loss before tax, blaming shoppers spending less due to inflationary pressures in the first half of the year. This was versus a £69m profit compared to the same period last year, although the partnership said on Thursday it was “not unusual for us” to make a loss in [...]
THG: Growth continues after strong performance from beauty division April 23, 2024 THG, the owners of Cult Beauty and Myprotein, recorded strong revenue growth in the first quarter of 2024
FTSE 100 lifted by investors cheering HSBC Canada arm sale November 29, 2022 London’s FTSE 100 was boosted today by investors pouring into HSBC after it confirmed it has ditched its Canadian business for £8.4bn. The capital’s premier index jumped 0.51 per cent to 7,512 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.55 per cent [...]
FTSE 100 falls as recovery concerns weigh on markets January 18, 2021 The FTSE 100 is fell today as last week’s slide in investor confidence continued. London’s premier index closed 0.2 per cent down to stand at 6,723 points. The FTE 250 of midcaps went the other way, rising 0.1 per cent to 20,646 points. In a sluggish day of trading, markets never really got going, with [...]
This Week: PMIs, Morrisons, Next, US unemployment, Fed, M&S January 4, 2021 City A.M. looks at the first business week of 2021 with Michael Hewson, chief market analyst at CMC Markets UK. Monday: UK PMIs for December Flash numbers in the middle of December were surprisingly encouraging, with manufacturing rising to 57.3. “No doubt due to some pre-Brexit stockpiling. services also managed to rebound a touch, coming [...]
HMV to reopen flagship London Oxford Street store after ‘dramatic turnaround’ under new owner April 28, 2023 Music and entertainment giant HMV will reopen its flagship London store on Oxford Street after four years, in wake of a “dramatic turnaround” under new ownership. The move comes after the company fell into administration in 2019, shuttering its store on the high street, partially due to the increase in streaming, which dented physical sales [...]
Superdry to delist from London Stock Exchange in latest effort to stay afloat April 16, 2024 Embattled fashion brand Superdry has said it will delist from the London Stock Exchange as part of a restructuring plan to keep the company alive.
Sales at Morrisons drop as supermarket boss cites ‘very fragile’ trading environment June 29, 2022 Supermarket Morrisons has seen sales drop by 6.4 per cent in the second quarter of the year, blaming a “very fragile and difficult consumer environment.” In a trading update for the 13 weeks ending 1 May, the grocer said it had experienced a “very challenging” trading environment with cash-strapped Brits tightening their belts as inflation [...]