Debenhams target share price cut by Investec due to post-Brexit foreign exchange concerns and an expected slowdown in UK demand July 20, 2016 Brexit is beginning to bite for retailers. Investec this morning said Debenhams face a "foreign exchange headwind" that will hit the department store in 2018. Read more: Debenhams raids Amazon for new chief executive Retail analyst Kate Calvert cut Debenhams' target share price to 52p. The cut comes after analysts expressed concerns about Sports Direct at the beginning of the [...]
Barcelona extend Qatar Airways sponsorship for a further year as club wait for more lucrative deal July 19, 2016 Barcelona have extended their shirt sponsorship deal with Qatar Airways for a further season after failing to find a partner willing to match their €65m (£55m) per season asking price. The La Liga champions have had ties to the gulf state since 2010 when the Qatar Foundation became only the second shirt sponsor in its history [...]
Young people actually prefer physical shops more than any other age group July 18, 2016 The success of online retail is less dependent on iPhone-obsessed millennials than you may think, according to new research by British Land. Young people are actually more likely to visit an physical shop than any other age group. They are also most likely to browse items in a physical store, and order online later if what they want isn't in stock. [...]
Post-Brexit Britain could become “data haven”, technology group says July 17, 2016 Brexit could transform Britain into a "data haven" for online firms if the EU opts for heavy-handed internet rules, according to an industry body. It comes as the European Commission mulls introducing laws which would control how the biggest tech firms use online platforms, such as search engines and social networks in Europe. The legislation would help address competition concerns. [...]
Sky to broadcast sharper football matches and movies from August July 14, 2016 Broadcaster Sky is going to offer a range of channels and programmes in Ultra HD from August. The move is part of Sky’s Q Silver service, and subscribers will need a supported TV-top box and TV that allows the format to watch. The picture quality offered by Ultra HD can be up to four times that [...]
Prime Day was the biggest day ever for Amazon July 13, 2016 Here's how crazy Prime Day was for Amazon. Sales on the shopping day that's now bigger than Black Friday for the retailer rocketed 60 per cent on last year, when it's estimated sales hit around the $400m, according to analysts. Now in its second year, Amazon Prime vice president Greg Greeley said: “We want to thank our [...]
Before the bell: What you need to know before the US market open July 12, 2016 Major US markets are on a tear hitting record highs and the UK blue-chip index is in bull market territory. Here's what you need to know before the US market open at 2:30pm London time. It seems nothing can stop the equity ball rolling now, with futures pointing yet higher ahead of the open. The [...]
Amazon has soared above Buffett ahead of Prime Day July 12, 2016 Amazon is soaring ahead of one of its biggest shopping days of the year Its share price has struck an all-time high and the web giant has overtaken Warren Buffett's Berkshire Hathaway to become the fifth largest company in the world. Jeff Bezos's retail and technology giant has had a stellar year so far that just seems to [...]
The infinite bookshop: How Chinese architects created a reflective space using mirrors July 7, 2016 With Amazon, ebooks and high street supermarkets pushing bookshops to the brink of extinction, the few independent sellers remaining have sought to reinvent themselves as shrines to literacy, intimate meeting places for authors and their readers, and serene reading grounds amidst the urban noise. One such spot is Zhongshuge-hangzhou, a newly- opened bookshop in Hong [...]
Asos won’t be making an Amazon-style move into physical shops July 7, 2016 Asos won't be following in Amazon's footsteps and bringing its brand onto the high-street, intending to focus on mobile sales instead. Speaking to City A.M. about whether the online retailer would ever open physical shops, Asos' chairman Brian McBride said: "It's not on our current plans. Read more: Amazon is opening its first physical bookshop McBride said the idea of [...]