Boohoo chief summoned to US court to explain ‘fake’ sales promotions claim July 31, 2021 The head of online fashion retailer Boohoo has been summoned to give evidence in a US court over allegations that the company promoted fake sales to attract customers. Mahmud Kamani will give evidence to a Los Angeles court remotely on or before 15 August in a four-hour deposition. Boohoo is accused of tricking customers into [...]
Used car sales double as chip shortages deplete new model stocks August 10, 2021 The number of used cars changing hands doubled in the second quarter as stock shortages forced some people to turn to second hand models. According to the Society of Motor Manufacturers and Traders (SMMT), 2,167,504 used models were bought in the last period, up 108 per cent on 2020. The number sold was also up [...]
British Gas boss slams rivals for not supporting plans to ringfence credit balances June 7, 2022 British Gas hits out at rival firms not backing its plans to ringfence the credit balances of customers, as part of plans to toughen up the energy sector.
Morrisons’ messy and dramatic takeover battle: Where are we now? August 20, 2021 Morrisons agreed a £7bn offer late last night in the latest twist in the UK supermarket chain’s dramatic takeover battle. Shares jumped this morning after investors digested the new deal from US private equity firm Clayton, Dubilier & Rice (CD&R). It comes weeks after a rival bidder, a consortium led by private equity rival Fortress, [...]
Is Open Interest data pointing to an imminent Bitcoin sell-off? November 1, 2021 Open Interest in Bitcoin Futures is giving crypto analysts cause for concern as it closes in on its all-time high, leading to the possibility of a brutal correction.
Bargain bin: Topshop’s former Oxford Street site on sale for £420m May 2, 2021 For years it was the jewel in the crown of Sir Philip Green’s retail empire. But with the collapse of Arcadia last November, the former home of Topshop on Oxford Street is now on the market for a cool £420m. Marketing materials seen by The Times suggest the property will offer a “new age retail [...]
British Land set to buy retail parks in diversification push April 14, 2021 British Land today said it was exploring further opportunities to buy retails parks and investing more in urban logistics following a surge in online shopping. The London-listed real estate firm cited customer confidence in visiting open-air retails parks where social distancing can easily be managed. A shift in location would see British Land move away [...]
600,000 new jobs in last six weeks as number of vacancies climbs to 2.3m October 16, 2021 Growth in job adverts has continued and there are now 2.29 million vacancies on offer, according to new research shared with City A.M. today. The Recruitment & Employment Confederation said the number of job postings increased by more than 600,000 since the last week of August, including 235,000 new adverts online last week. The growth [...]
How Derby County slipped to edge of disappearance January 20, 2022 They are former English champions and in top form under the management of Wayne Rooney, yet day by day Derby County are inching towards liquidation and disappearing from football forever. Their story is one of financial mismanagement in a desperate bid to achieve promotion to the Premier League; administrators scrambling to find a buyer – [...]
Jack Dorsey’s Square to snap up Australian rival Afterpay for £21bn August 2, 2021 Payments firm Square is set to snap up buy now, pay later company Afterpay for some £21bn, in the biggest buyout of an Australian firm to date. Twitter co-founder Jack Dorsey, who also co-founded Square, said that the payments company and Afterpay have a “shared purpose”. The deal will peg the merging companies as a [...]