Top of the class: London retailers post best results in Europe to push Paris into second place November 12, 2018 London’s West End has weathered problems on the high street to keep its position as the top of the European retail league, while seven of the top 10 shopping centres are in the UK. Shoppers spent almost €10.4bn (£9.1bn) on and around Oxford Street, Knightsbridge and Kensington for the year ending November, a 12 per cent [...]
DEBATE: Is Sports Direct founder Mike Ashley the best person to turn House of Fraser around? August 23, 2018 Is Sports Direct founder Mike Ashley the best person to turn House of Fraser around? YES, says David Blair, global chief executive of FITCH. The British high street is crying out for a saviour, and why shouldn’t it be Mike Ashley? He’s a shrewd retailer driving Sports Direct to win against new-age competitors like Amazon. Ashley [...]
BMW reveals it will build electric Mini in Oxford in boost for UK’s car industry July 9, 2019 In the summer of 1959, the first Mini rolled off the production line in Oxford and hit Britain’s streets. While initially a response to the Suez crisis fuel shortage, its diminutive size made it a style icon, helped it symbolise the swinging sixties and shook up Britain’s car industry for good. Fast forward 60 years, [...]
Post Office continues turnaround as it makes a profit for the second year in a row September 13, 2018 The Post Office revealed it was making good progress on its turnaround as it posted a profit for the second year in a row. The figures In its full-year results released today, trading profit more than doubled from £13m last year to top £35m while turnover was boosted by £4m to reach £961m. In retail, its revenue [...]
Post Office continues turnaround as it makes a profit for the second year in a row September 13, 2018 The Post Office revealed it was making good progress on its turnaround as it posted a profit for the second year in a row. The figures In its full-year results released today, trading profit more than doubled from £13m last year to top £35m while turnover was boosted by £4m to reach £961m. In retail, its revenue [...]
Derwent developments bring major boost to London August 10, 2018 Major property developer Derwent London gave a huge boost to confidence in the capital yesterday by committing to £700m worth of new high-end development projects. The FTSE 250 giant will start work next year on a £500 million redevelopment of the historic Astoria music venue on the corner of Oxford Street and Charing Cross Road, [...]
House of Fraser confirms plans to close more than half of its stores June 7, 2018 House of Fraser is to close 31 of its 59 stores in a plan to dramatically restructure the chain, in a move its chief executive described as "grim". If approved by creditors, the move will result in the loss of 6,000 jobs: 2,000 House of Fraser employees and 4,000 brand concession staff. The full list of [...]
Revealed: The 50 fastest growing tech companies in the UK November 8, 2019 Firms based in London dominate a new ranking of the 50 fastest growing tech companies in the UK. Fintech bank Revolut took poll position as the technology firm with the quickest revenue expansion in the index, compiled by audit firm Deloitte. Read more: Gocardless and Transferwise join forces for global recurring payments service Revolut racked [...]
Retail giants to be hit by £190m business rate bill as industry fears ‘tipping point’ September 19, 2018 UK retailers are set to face a fresh tax bill worth hundreds of millions of pounds if today’s inflationary figures remain similar next month, with embattled high street businesses fearing another hefty levy could push the sector to its limits. The British Retail Consortium (BRC) predicts that the retail sector will be slapped with a £190m [...]
Retail giants to be hit by £190m business rate bill as industry fears ‘tipping point’ September 19, 2018 UK retailers are set to face a fresh tax bill worth hundreds of millions of pounds if today’s inflationary figures remain similar next month, with embattled high street businesses fearing another hefty levy could push the sector to its limits. The British Retail Consortium (BRC) predicts that the retail sector will be slapped with a £190m [...]