AA skids off course in mid-cap promotion push as Marks & Spencer swerves blue-chip relegation May 29, 2018 British motoring darling the AA snatched defeat from the jaws of victory, as it is set to narrowly miss out on a return to London’s mid-cap index. Shares in the breakdown firm skidded over seven per cent today taking the firm out of contention for an automatic promotion back to the FTSE 250. Last week, [...]
Ocado and M&S share prices drop as they complete £750m online delivery deal August 5, 2019 Investors battered Ocado and Marks & Spencer’s shares this morning as the supermarkets finalised details of a £1.25bn partnership. M&S’s share price fell 4.5 per cent while Ocado’s share price dropped as much as 4.4 per cent as M&S completed the £750m purchase of a 50 per cent stake in Ocado’s online delivery platform. Read [...]
Mark Kleinman: Light finally shines on Schroders’ M&G ambitions December 2, 2021 Sky News’ Mark Kleinman is the man the City reads – and in his fortnightly column for City A.M., he shares his insight and analysis. Schroders is solved The mystery is finally solved. For months, fund management executives have puzzled over two aspects of Schroders’ aborted ambitions to take over M&G Investments and create a [...]
Remainer rebels offered ‘olive branch’ by No 10 September 12, 2019 Boris Johnson has ordered the chief whip to write to ousted Remainer MPs including Philip Hammond and David Gauke, following a backlash against their sacking. The Prime Minister has told Mark Spencer to write to all 21 MPs who had the whip removed, setting out the appeals process, the Telegraph reports. City A.M. understands that [...]
Marks & Spencer (MKS) share price rises as retailer promises to ramp up store closures as profits slump May 23, 2018 The City was braced for a slump in profits at Marks & Spencer, and a slump was duly delivered this morning as the retailer said it was “facing facts” amid “the continued migration of clothing and home online”. The company said it had to modernise the business to make sure it stays competitive, with “accelerated [...]
Could be game, Seasett and match in Golden Gates June 18, 2021 IT’S GOING to be pretty tough going come the last few races on Saturday and it could pay to look for horses off low weights. One of those is SEASETT, who I fancy to give Richard Fahey a second winner of the week in the Golden Gate Handicap (5.35pm). The recent rain will have been music [...]
Marks and Spencer will shut seven stores for the final time as part of a wider restructuring May 4, 2019 Marks and Spencer will shut down seven more stores today as part of its long-term plan to close 100 by 2022. It will bring the total number of stores closed to 47 as the high street retailer adapts to consumer's changing habits. The department store chain is ending its association with town centres across the UK and [...]
M&S launches urban farming scheme in London stores September 12, 2019 Marks & Spencer is launching an “urban farming” scheme in its London stores, the retailer announced yesterday. M&S Food has partnered with Infarm to grow fresh herbs – including basil, mint, parsley and coriander – at its branch in Clapham Junction. Read more: M&S’s FTSE exit is a symbol of its terminal decline The retailer [...]
FTSE 100 falls as coronavirus cases overshadow Sunak stimulus July 9, 2020 The FTSE 100 lost one and a half per cent today as fears over a continued rise in coronavirus cases offset chancellor Rishi Sunak’s £30bn of extra financial firepower. The UK index initially barely moved after yesterday’s 0.55 per cent drop, which left it at 6,156 points. By 4pm today the FTSE 100 had fallen [...]
Ocado sales growth accelerates after Andover fire recovery September 17, 2019 Online supermarket Ocado reported accelerating growth in the third quarter after it secured an additional warehouse following a fire at the firm’s Andover site. Retail revenue increased 11.4 per cent to £386.3m in the 13 weeks to 1 September, the company reported in a trading update this morning. Read more: Firefighters put out blaze at [...]