Trafigura to open carbon offset trading desk April 9, 2021 Commodities giant Trafigura has today announced that it will launch a carbon trading desk as financial institutions continue to adapt to the ever-increasing focus on climate change. The new desk will be led by Hannah Hauman, the firm’s former head of crude oil trading in Europe. The decision marks another step into the low-carbon market [...]
Retailers are using experiences, not goods, to keep high street fashion on trend November 22, 2021 A short stroll along Oxford Street these days doesn’t necessarilly fill retail fans with confidence. A phalanx of American candy stores, souvenir shops of questionable quality and ‘to let’ signs have blossomed after the pandemic, and House of Fraser last week became the latest bricks and mortar flagship to announce it would be closing its [...]
Mike Ashley offers Philip Green’s embattled Arcadia emergency funding November 30, 2020 Mike Ashley has offered emergency funding to fellow retail billionaire Sir Philip Green’s Arcadia empire, which is on the brink of bankruptcy. After speculation that a deal was in the offing over the weekend, Ashley’s Frasers Group today confirmed that it had offered the Topshop-owner £50m in loans. It added that should the company enter [...]
Citigroup profits smash estimates as bank unlocks loan loss reserves July 14, 2021 US bank Citigroup smashed analysts’ estimates for second-quarter profits as the sharp American economic rebound allowed the bank to unlock a deluge of loan loss reserves. Net income surged to $6.19bn in the second quarter of this year, up sharply from $1.06bn in the same period last year. The banking giant’s profits were lifted by [...]
Asda beats competitors to become fastest growing Big Four supermarket for first time in more than two years April 27, 2021 Asda beat its competitors to become the fastest growing of the biggest UK supermarkets for the first time in more than two years as consumers ventured further for their food shopping. The latest data showed Asda, which was recently sold by US retail giant Walmart to the Issa brothers and TDR Capital, increased its market [...]
Ashley set to enter bidding war for Jaeger October 25, 2020 Controversial High Street titan Mike Ashley is readying a bid for struggling retailer Jaeger, reports emerged today. Ashley’s Frasers Group, one known as Sports Direct, is understood to be interested in adding Austin Reed, Jacques Vert and Jaeger to his expanding portfolio. The news was first reported by the Sunday Times. Read more: Ashley plots [...]
Authentic Brands in talks over double swoop for Arcadia and Debenhams – report December 13, 2020 US retail giant Authentic Brands is planning an audacious double swoop for collapsed Arcadia and Debenhams in a deal that would transform the high street. The firm, which recently took over historic New York department store Barneys, is in talks with the administrators of the two companies this weekend. The Sunday Telegraph reported that the [...]
Next mulls bid for Sir Philip Green’s collapsed retail empire Arcadia December 18, 2020 Next is reportedly weighing up a bid for Sir Philip Green’s collapsed retail empire Arcadia with US investment firm Davidson Kempner Capital Management. The high street retailer is holding detailed discussions with Davidson Kempner about a combined offer for Arcadia, the owner of Topshop, Dorothy Perkins and Miss Selfridge, after it fell into administration last [...]
Ocado sales dip as pre-pandemic habits return, supermarket data finds August 17, 2021 The UK’s return to normality has been accompanied by a return to pre-pandemic shopping habits, with online and overall grocery sales declining. The latest grocery market share figures from Kantar for the period ending 8 August show that grocery sales fell by four per cent. The latest twelve weeks saw the lowest level of online [...]
Sports Direct owner Mike Ashley warns of closures after business rates review delay July 22, 2020 Mike Ashley’s Frasers Group, formerly known as Sports Direct, has warned it could be forced to close stores after the government delayed a business rates review. The government has promised a “fundamental review” into the long-term future of business rates. In March it gave retail, hospitality and leisure businesses a year-long holiday from the tax [...]