Jack Dorsey’s Square buys $300m stake in Jay-Z’s streaming firm Tidal March 4, 2021 Mobile payments firm Square has agreed to buy a majority stake in Tidal, the streaming service owned by rapper and producer Jay-Z, for $297m (£212m). Square, which was co-founded by Twitter chief executive Jack Dorsey, said it will pay a mix of cash and stock for the stake, while Jay-Z will join its board of [...]
H&M axes four UK stores outside London as retailer warned it needs to ‘raise its game’ to differentiate from rival fashion chains February 1, 2023 H&M has announced plans to shutter four of its stores across the UK due to a “rapid change” in customer behaviour. None of the fashion retailers’ London sites have been impacted by the move, however stores in Hartlepool, Maidenhead, Newport in Isle of Wight and Burton are set to close. A spokesperson for H&M UK [...]
James Ibori: UK returns £4.2m of jailed politician’s stolen assets to Nigeria May 18, 2021 The British government has handed back around £4.2m in assets stolen by a former Nigerian governor to his home country. James Ibori, who was governor of the oil-rich Delta State from 1999 to 2007, was convicted at Southwark Crown Court in 2012 on 10 counts of fraud and money laundering. He was sentenced to 13 [...]
FTSE 100 reshuffle: What has gone wrong for M&S? September 2, 2019 High street stalwart Marks & Spencer looks almost certain to fall out of the FTSE 100 after markets close today. The retailer’s shares have lost about 40 per cent of their value since January last year, despite management attempts to turn its fortunes around. Read more: Ocado and M&S share prices drop as they complete [...]
WeTransfer confirms £524m Amsterdam float next week January 20, 2022 WeTransfer’s parent company WeRock N.V. confirmed this morning that it will float on Euronext Amsterdam, with a market cap of €629m (£524m) and €716m (£596m).
Christmas adverts 2019: Watch retailers from Argos to M&S and Amazon launch their festive ad campaigns November 8, 2019 We might only be a week into November but some of UK’s biggest retailers have already launched their 2019 Christmas advert campaigns, as firms race to make the most of the crucial festive trading period after a challenging year for the high street. In what has become a festive tradition, retailers have pulled out all [...]
Jon Robinson’s UK column: Giving a national voice to companies beyond the M25 January 12, 2024 Read the first edition of Jon Robinson's UK column - outlining how City AM is shining a light on business success outside of the M25.
High Street retail race: Marks and Spencer predicted to overtake John Lewis by 2026 February 8, 2023 Marks & Spencer will overtake John Lewis in the rankings of the UK’s biggest retailers by 2026, according to a new sales forecast. Tesco will retain its position as the largest retailer, followed by Sainsbury’s, but Amazon is on track to move into the top three within the next few years, industry title Retail Week [...]
The FTSE 100’s biggest winners of 2023 December 28, 2023 It has been a tumultuous year on London’s markets as a cocktail of inflation, aggressive rate hikes and geopolitical instability roiled listed equities.
Gupta’s business empire sued by rival Tata over £100m steel deal April 22, 2021 Sanjeev Gupta’s business empire is reportedly being sued by rival Tata over a £100m deal that made him one of Britain’s biggest steel magnates. Tata has filed a commercial court claim against Gupta’s GFG Alliance — parent company of Liberty Steel — over alleged mispayments, the Daily Telegraph reported. The case is said to relate [...]