Beleaguered Grayling set to announce major new review of rail services September 16, 2018 The government is set to launch a major review of the UK’s railways this week, following widespread criticism and a series of operational problems. Transport secretary Chris Grayling is expected to appoint Keith Williams, the former boss of British Airways, to undertake a systematic, 12-month review of the country’s rail services. Williams is the deputy [...]
Debenhams names new finance boss August 22, 2018 Debenhams has named Rachel Osborne as its new chief financial officer at a crucial time for the retailer amid the crisis on the high street. Osborne is currently finance boss of Domino's Pizza Group, but announced a sudden departure in June, sending the company's shares down five per cent. She was the third CFO of Domino's in [...]
Retail tech startup behind Tesco and Argos valued at almost £70m, after scoring additional funding | City A.M. July 31, 2018 Virtualstock, a London tech startup which provides cloud-based inventory solutions for retailers like Tesco, Argos and John Lewis, today announced a further £3.4m in funding which has valued the business at almost £70m. Rene Schuster, the former chief executive of telecoms giant Telefonica in Germany, is also joining the firm as its chairman. The funds, [...]
Coinbase announces a new deal to let you pay for your Uber with crypto | City A.M. July 25, 2018 Coinbase has today revealed a new partnership that will allow you to pay for physical goods and services from your favourite retailers with cryptocurrencies. The deal, which will be powered by WeGift, enables Coinbase users to buy an electronic gift card, load it with cryptocurrency from their Coinbase wallet and then use them at over [...]
London luxury goods repair service The Restory among startups picked for Farfetch incubator September 4, 2018 A London-based start-up which repairs luxury fashion items is among the businesses selected for Farfetch's retail technology incubator. The Restory, which restores designer items, is one of 11 start-ups selected for the 12-week Dream Assembly programme. Farfetch plans to support fashion tech start-ups with talks, mentoring and networking opportunities. "The companies we have selected for the first Dream [...]
Debenhams looks to shore up investor panic with unveiling of its ‘store of the future’ September 24, 2018 Debenhams is gearing up for the unveiling of its “store of the future” later today, as the beleaguered retail giant looks to reassure both shoppers and investors after a challenging summer. The department store chain is also expected to reveal more details of its turnaround plans at the event in Watford today, having denied [...]
Ferrari left with plenty to ponder as disappointing F1 season comes to a close in Abu Dhabi November 27, 2019 After the curtain falls on another Formula One season under the floodlights of this weekend’s Abu Dhabi Grand Prix, there will be a number of questions for Ferrari to answer over the winter break. The Italians have already secured second place in the constructors’ championship but have once again fallen short of their ultimate goal, [...]
Black Friday weekend: How to find the best deals and avoid the worst November 23, 2018 British shoppers are set to drop £7bn on products this Black Friday weekend, as they surf the web and hit the high streets in search of the most generous deals. But as price comparison site Finder.com predicts bargain hunters will spend an average of £220 each, with everybody discounting products it’s hard to know where [...]
Store wars: Aldi is in no mood to be Jack’s of all trades October 2, 2018 Aldi vowed to make Tesco discounter brand Jack’s a dull boy yesterday, saying it will remain the UK’s cheapest grocer. “It will be a real struggle for any more complex supermarket to successfully imitate our model let alone replicate it,” Giles Hurley, chief exec of Aldi UK and Ireland, said as he threw down the [...]
Selfridges posts record operating profit as investment programme pays off October 1, 2018 A major revamp has helped Selfridges increase sales by 11.5 per cent year-on-year, as operating profits rose to a record £181m for its latest financial year. The department store is now in the final 12 months of its four-year £300m investment programme, transforming its London store and increasing its digital capabilities. Read more: Analysts warn of Debenhams [...]