Weaker than expected retail sales drags Wall Street down August 17, 2021 US stocks edged down during the open today after official figures showed US retail sales were much weaker than expected in July. The blue-chip S&P 500 dropped 0.55 per cent to 4,455.46 points and the Dow Jones lost 0.83 per cent to fall to 35,328.87 points. The tech-heavy Nasdaq extended the traditional benchmark’s losses to [...]
US issues final Brexit warning to UK not to take unilateral action as American delegation visits Dublin and Belfast May 23, 2022 The UK government has been warned by a delegation of US politicians not to unilaterally remove the Northern Ireland Protocol as such a move “will not work”. Democratic Congressman Dan Kildee urged Foreign Secretary Liz Truss to engage in face-to-face negotiations with Brussels to resolve the outstanding issues. It comes as the bipartisan US congressional [...]
US stocks rise on strong quarterly earnings July 21, 2021 US stocks rose during the open on Wednesday after investors were boosted by a string of strong company quarterly earnings. The blue chip S&P 500 rose 0.48 per cent, lifted by gains in cyclical stocks. The tech-heavy Nasdaq added 0.39 per cent, while the Dow Jones was up 0.69 per cent. Yields on 10-year US [...]
High street recovery blown off course as footfall drops 6.1 per cent May 4, 2021 Wind and rain blew the high street recovery off course this week as footfall dropped 6.1 per cent, according to figures from retail insight company Springboard. The number of shoppers across all retail destinations fell by two per cent last week from the week before. Meanwhile, footfall rose by 2.8 per cent in shopping centres [...]
Jeff Bezos’s Amazon reign ends today exactly 27 years after he founded the company July 5, 2021 Jeff Bezos’s reign at Amazon ends today, exactly 27 years after he founded the company that changed the landscape of online retail forever. Bezos founded Amazon on this day in 1994 and in that time has seen it transform from an online retailer specialising in selling books into a global profit-churning e-commerce phenomenon. Read more: [...]
Residential landlord Grainger confident in future of London’s ‘attractive’ rental market May 13, 2021 Residential landlord Grainger said it is confident in London’s ability to bounce back from the coronavirus pandemic, despite slumping rental prices in the capital. The FTSE 250 developer said this morning that its “conviction in London’s rental market remains”. “As a leading city, London will continue to be an attractive location to live in and [...]
Mixed Covid-19 messages ‘cannot define this winter’ for business, says London First chief September 14, 2021 The boss of London First has urged the government not to allow mixed messages to define the upcoming winter for businesses, following the health secretary’s Covid-19 plan earlier today. Health secretary Sajid Javid said that the government intends to dodge winter restrictions by allowing booster jabs for those over 50 and vaccinations for 12 to [...]
Ladbrokes owner delivers modest results amid US expansion and bookie bounceback January 20, 2022 Ladbrokes owner Entain reported a strong 2021 performance, with group net gaming revenue up seven per cent.
Start-up woes: Getir follows Gorillas and Zapp headcount culls with 800+ jobs slashed May 26, 2022 Getir and Zapp have been the latest rapid delivery startups to slash jobs, in a further blow for the speedy grocery category. Turkey-based Getir told workers it intends to slash its global headcount by 14 per cent, representing some 840 job losses. “With a heavy heart, we today shared with our team the saddening and [...]
Chris Woolard on BNPL, regulatory run-ins and getting financial rulemaking right February 2, 2023 The regulatory veteran wants a rulebook for the 21st century, but getting it right might trump speed, Charlie Conchie writes. Urgent. That was the word used by the former-interim chief of the City watchdog Chris Woolard when he gave his verdict on regulation of buy-now pay-later services in a landmark review two years ago today. [...]