FTSE 100 falls back as extra restrictions mulled January 11, 2021 The FTSE 100 fell back slightly this morning as reports that the government is mulling further restrictions pressed on the markets. London’s premier index fell 0.5 per cent by mid morning to stand at 6,838 points after a rapid start to the year last week. In the first week of trading, the bourse picked up [...]
Exclusive: The pandemic showed the limitations of an online-only model, says retail guru November 17, 2021 A year of enforced change in buying habits where pretty much everything went online has reverted to ‘the new normal’. The Covid pandemic accelerated the shift to online; but is the future of retail really digital only? While in the short to medium term, there will remain some concerns over the logistics of browsing and [...]
Around 2,450 high street jobs lost as Boohoo buys Arcadia brands at ‘discount price’ February 8, 2021 The sale of Dorothy Perkins, Wallis and Burton to Boohoo has put 2,450 jobs at risk, as all of the Arcadia brands’ physical stores are set to close. Deloitte, which was appointed as administrator to Sir Philip Green’s collapsed retail empire, announced today that Boohoo has bought the brands’ digital assets for £25.2m. All 214 [...]
G20 agrees new debt restructuring framework in wake of pandemic November 13, 2020 G20 finance ministers have for the first time agreed a new common framework for restructuring government debt, amid concerns poorer countries will need unprecedented debt relief packages in the wake of the coronavirus crisis. Major creditors including China are expected to follow the fresh guidelines, which set out legislation to reduce or reschedule debt deemed [...]
Woolard review: FCA cracks down on £2.7bn buy-now-pay-later market February 2, 2021 Interest-free buy-now-pay-later credit agreements will be regulated by the City watchdog after the market swelled to £2.7bn last year. The plans, drawn up by the Financial Conduct Authority (FCA), have been designed to protect consumers, after the use of buy-now-pay-later (BNPL) transactions tripled in 2020, as shoppers looked for ways to spread their money further [...]
Three children of Asos tycoon killed in Sri Lanka massacre April 22, 2019 The billionaire owner of online fashion giant Asos has lost three of his four children in the Sri Lanka bombing attacks. A spokesperson for Anders Holch Povlsen, Denmark’s richest man, confirmed this morning that three of the retail tycoon’s children were killed in yesterday’s Easter massacre. "I can confirm that three children have been killed. We [...]
Klarna-challenger Zilch becomes first ‘buy now pay later’ firm to secure FCA licence November 23, 2020 The City regulator has issued its first licence to a Buy Now Pay Later (BNPL)company, months after launching an inquiry into the unsecured credit market. London-based Zilch has become the first company in the UK’s BNPL market to become fully licensed by the Financial Conduct Authority (FCA). Zilch has worked with the regulator for over [...]
Topshop collapse: What went wrong for Sir Philip Green’s Arcadia retail empire? November 30, 2020 Topshop was a beloved high street brand, had secured lucrative partnerships with Kate Moss and Beyonce, and boasted star-studded front rows at its London Fashion Week shows. Now, it's facing collapse.
Forter valuation soars to $1.3bn after raising $125m in Series E round November 19, 2020 E-commerce fraud prevention platform Forter has raised $125m in a Series E round bringing its valuation to over $1.3bn. The round was led by Bessemer Venture Partners and Itai Tsiddon with participation from Felix Capital and Sequoia Capital among others. Forter said it would use the investment to expand its network, which has doubled in [...]
How to pick the Gold Cup winner March 18, 2021 Forget natural instinct, paddock picks or pure luck. The only way to consistently back winners is with cold, hard data. Trends are clues. If you find enough, you’ll solve the puzzle. This puzzle is called the Cheltenham Gold Cup and it’s been going since 1819. Just don’t ask us for a receipt… Age No horse [...]