Focus On Hackney: How the London Overground caused a price surge in E8 March 23, 2018 Though the area around Hackney Central is better known as hipster central, the property prices certainly don’t reflect the salaries of young, freelance creatives. The E8 postcode has seen some of the most dramatic house price rises in the whole of London, a trend that has survived the plateau-ing – and declines – of recent [...]
Burberry profits fall 24 per cent despite Brexit boost November 9, 2016 Burberry reported plummeting profits in the first half of the year – but added that the fall in sterling had pushed up comparable sales by 30 per cent in the UK. Silver linings? The figures Underlying pre-tax profits fell 24 per cent to £146m in the six months to the end of September, as revenues fell to [...]
London-listed firms warned they will be named and shamed on investor pay revolts in new public register October 25, 2017 A raft of London-listed firms will be warned this week of their inclusion in a new government-backed public register compiling investor revolts over pay, as well as corporate governance issues. The trade body for Britain’s fund management industry, the Investment Association, is writing to firms which recorded at least a fifth of shareholders opposing resolutions [...]
Burberry shares drop despite reports designer could be in for £125m windfall from sterling decline October 18, 2016 British designer brand Burberry said today that the fall in sterling could help boost its profit for the year by up to £125m – but its share price dropped 6.9 per cent at the open. Sterling has dropped significantly since the UK voted for Brexit in June – and in recent weeks, the pound has [...]
Burberry share price jumps over five per cent on reports of interest from US designer Coach October 21, 2016 Burberry's share price jumped six per cent this afternoon on reports that US designer Coach is interested in merging with the British designer. Financial blog Betaville reported that Coach has engaged investment advisory firm Evercore to work with the two companies on a potential tie-up. According to a source cited by Betaville, senior executives from Coach [...]
Last Week in the City: England has an 8.5% chance of winning the World Cup May 18, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (14 to 18 May 2018). UBS has used its City analysts’ predictive firepower to try and work out the winner of the upcoming World Cup in Russia – and England came surprisingly high in its league [...]
Burberry’s Christopher Bailey just got a massive pay cut June 6, 2016 Burberry's chief executive was saddled with a 75 per cent pay cut today after a disappointing year for the British brand. Bailey will be getting £1.89m this year, down from £7.51m last year, according to the fashion house's annual report, released today. Burberry reported a 10 per cent drop in pre-tax profits, perhaps explaining why Bailey's [...]
Burberry’s leadership has issued a staff memo warning of the “unnecessary economic consequences” of Brexit June 22, 2016 Fashion giant Burberry became the latest firm to warn employees of the risks of Brexit, in a letter sent to staff yesterday. Chief executive Christopher Bailey and chairman sir John Peace told staff that a Leave vote would trigger “unnecessary economic consequences”. While the pair did not explicitly tell staff which way to vote this [...]
Last Week in the City: Trump threatens trade war March 2, 2018 This week US President Donald Trump threatened a trade war, a number of famous high street names, including Toys R Us and Maplin, got into serious trading trouble and upbeat assessments of the US economy from central bankers helped the US dollar to rally, reversing its recent trend. The FTSE 100 fell 0.2 per cent [...]
Burberry set to score a Brexit win on the weaker pound July 10, 2016 Luxury clothing brand Burberry is expected to announce better-than-expected results this week due to the fall of sterling since the Brexit vote. Analysts expect the FTSE 100 fashion brand to report a five per cent fall in like-for-like sales on Wednesday, but have adjusted profits estimates due to a weaker pound. On the day before the [...]