Shares in Burberry fall as Chinese appetite for luxury goods slows October 10, 2018 Shares in Burberry dropped over eight per cent Wednesday after Morgan Stanley downgraded the luxury goods sector over worries of a slowdown in the Chinese market. Chinese consumer confidence has peaked, the bank said, and consumption trends will likely slow further in the second half of the year before a slight upswing in 2019. Read [...]
FTSE 100 and US stocks tentatively climb after rough week September 11, 2020 The FTSE 100 headed towards the end of the week slightly higher and US stocks recovered some ground after another sell-off yesterday. London’s blue-chip index was up 0.2 per cent at 6,015 points in afternoon trading as official data showed the UK economy grew seven per cent in July. The FTSE 250 of mid-cap firms [...]
FTSE 100 climbs despite new coronavirus rules but US stocks mixed September 22, 2020 After plunging yesterday, the FTSE 100 rose despite the UK government imposing new coronavirus restrictions, while US stocks were mixed. The UK blue-chip index was up 0.9 per cent to 5,858 points in afternoon trading. That was down significantly from its opening figure of above 6,000 yesterday, however. The FTSE 250 had risen 0.2 per [...]
The Westbury Hotel owner seeks £1bn sale of Mayfair portfolio March 10, 2020 Cola Holdings, the owner of the The Westbury Hotel, is seeking a £1bn offer for its Mayfair property estate, which also includes Bond Street’s Burberry store and a private members club. Kurdish-born millionaire Bakir Cola owns the group, which has recently received planning permission to redevelop the five-star hotel in Conduit Street to attract “top [...]
Coronavirus eats into Finsbury Food revenue as sales sink during lockdown July 15, 2020 Cake manufacturer Finsbury Food Group said it expects annual sales to dip slightly in 2020 as a plunge in sales during the second half of the year during the coronavirus crisis diluted progress made last year. The bakery group said second half sales slumped as a result of the national lockdown, with sales sinking 24 [...]
Hong Kong is giving $1,200 to residents to help boost its economy February 26, 2020 Hong Kong is set to hand out a cash gift to permanent residents in a bid to boost spending in its recession-hit economy. As part of the annual budget, $10,000 Hong Kong dollars ($1,200, £985) will be given to seven million people over the age of 18. The economy has taken a huge hit after [...]
Adverts in adversity: Johnny Hornby on the case for advertising through Covid-19 May 8, 2020 There’s no doubt the advertising industry has taken a battering in recent weeks, with the coronavirus crisis sparking the biggest fall in ad spend on record. In fact, with TV production on hold, it seems brands may have to turn to Zoom to keep their campaigns going. The downturn comes as little surprise. Marketing budgets [...]
FTSE 100 ‘in panic mode’ as coronavirus fears push it into red January 27, 2020 FTSE 100 stocks have fallen deep into the red today as fears rise over the spread of coronavirus, which has now claimed 81 lives in China. Britain’s blue-chip index was down 2.3 per cent by 2pm at 7,412 as hoteliers, airlines and luxury goods firms with links to China suffered. As the death toll mounted, [...]
China tells Trump ‘no effort spared’ on fighting coronavirus after doctor’s death February 7, 2020 Chinese President Xi Jinping told his US counterpart that everything possible was being done to contain the spread of the coronavirus following an outcry over the death of a doctor who had warned of the impending epidemic. The death toll currently stands at just under 650 people, including Dr Li Wenliang, who had been threatened [...]
UK confirms 73 people have tested negative for coronavirus January 27, 2020 A total of 73 people have tested negative for coronavirus in the UK as the death toll in China rises to 81. The Department of Health and Social Care (DHSC) announced today that there had been no coronavirus cases in the UK or of UK citizens abroad, and the risk to the public is low. [...]