Shares in Kate Spade owner Tapestry plunge on disappointing results August 15, 2019 Shares in the fashion house behind Kate Spade dropped more than 20 per cent today after it posted a surprise fall in revenue and profit for the quarter. Tapestry reported net profit of $148.9m (£122.8m) in the three months to the end of June. Net sales rose two per cent to $1.51bn, but fell short [...]
Big Tech vs Congress live: Facebook, Google, Apple and Amazon face Washington grilling July 29, 2020 Welcome to City A.M.’s Big Tech vs Congress live blog. Please refresh this page for live updates. Big Tech faces its day of reckoning today as the world’s four biggest tech moguls appear before the US Congress in Washington to face a grilling over their companies’ size and power. Facebook’s Mark Zuckerberg, Amazon’s Jeff Bezos, [...]
UK house prices rise at fastest rate since April, finds Halifax September 6, 2019 UK house prices climbed 1.8 per cent higher in August compared to the same time last year, Halifax’s House Price Index revealed today. That is the fastest rate of growth since April’s 2.6 per cent increase, Halifax’s figures showed. However, revisions to modernise Halifax’s measure means previous lofty growth of 4.1 per cent in July [...]
UK inflation rate jumps to 1.8 per cent in January February 19, 2020 UK inflation rose to a six-month high of 1.8 per cent in January, a significant increase from December’s rate of 1.3 per cent, according to official data released today. The rate remains below the Bank of England’s (BoE) target of two per cent. The bump comes as a surprise to analysts, who had forecast the [...]
New cinemas and indie hits like Knives Out help Everyman book record sales January 15, 2020 A rapid expansion and the success of breakout indie movies like Rian Johnson’s Knives Out pushed Everyman to a record £65m revenue in 2019, the cinema chain revealed today. The record sales, a 25 per cent jump on the previous year, were underpinned by the opening of seven new venues to take Everyman to a [...]
Gresham House reports jump in assets under management September 16, 2019 Gresham House has reported an 8.1 per cent increase in assets under management (AUM) for the first half of 2019, which the asset manager said was driven by an increase in organic growth, pushing its income up over 200 per cent. The specialist alternative asset management firm had £2.5bn AUM at the end of June, [...]
The modular model: Can factory-built homes solve the housing crisis? September 26, 2019 picture a vast warehouse somewhere in the north of England. Workers in hard hats are poring over intricate plans against a background of humming machinery. Robot arms slice through sheets of metal and wood as they pass by on a conveyor belt, precisely cutting out shapes that look like huge versions of Airfix models. Across [...]
Retailers are hoping for a Christmas miracle November 11, 2019 The crucial Christmas trading season was once relished by high street bosses hoping to fatten their profits before the New Year. But so troubled is the sector that the once ‘Golden Quarter’ of retail has lost much of its shine, being viewed today by many executives as a way of raking in just enough cash [...]
130 profit warnings triggered by COVID-19 March 26, 2020 I’m not even sure where to begin. I think I’ll start with my week in numbers… On Monday…UK quoted companies issued as many profit warnings in a day as they did in the whole of April 2019 On Tuesday….8 FTSE Retailers warned, the sector’s average quarterly total in 2019 On Wednesday, by 10am…5 FTSE Household Goods and Home Construction companies had [...]
Coronavirus: An economic evolution, not revolution April 8, 2020 The COVID-19 pandemic is the defining event for a generation and though its long-term effects remain uncertain, it is fair to say the ‘new normal’ we will return to will be significantly different to that we left. However, change was afoot long before the pandemic altered the way companies think, assess risk and manage their [...]