New Look hires JPMorgan as it eyes £2bn float February 23, 2015 Fast fashion chain New Look has taken a step closer to an initial public listing (IPO), having hired JP Morgan to work on options for a flotation. Reports suggest the retailer, which is currently owned by private equity firms Apax and Permira as well as founder Tom Singh, could be valued at as much [...]
Primark sales climb – but sugar division remains bitter for Associated British Foods February 23, 2015 Associated British Foods is expecting good things from Primark when it reports its full year figures in April – but its sugar division continues to dampen the group's overall performance. The fast fashion chain is ABF's jewel in the crown. Sales are expected to be up 16 per cent on last year, with “very [...]
24 Hour Party People? George Osborne and Boris Johnson confirm plans to turn London into 24-hour city February 20, 2015 London is just months away from taking tentative steps towards becoming a 24-hour capital, and the government is already planning the next phase. Chancellor George Osborne and London mayor Boris Johnson this morning confirmed a wider rollout of the 24 hour service across the Tube and Overground lines from 2017. That will follow [...]
500,000 Wal-Mart workers are getting a pay rise February 19, 2015 Nearly half a million Wal-Mart workers found out they were getting a pay rise today, as chief executive Doug McMillon moved to reassure them of their value to the company. The retail giant, which owns Asda in the UK, will be giving pay rises to around 500,000 full and part-time staff throughout the US [...]
Chip Week 2015: This East London chippy The Golden Fish has been named the best in the UK February 19, 2015 If you're searching for the nation's best plate of fish and chips look no further. The Golden Fish in Dagenham has been crowned the Best Chippy in the country, battering the rest of the 900 restaurants competing to take first plaice. The awards are run by the Potato Council as part of Chip [...]
City Police called in to deal with suspect package at London skyscraper Broadgate Tower February 19, 2015 City Police were called in to investigate a suspicious package at a London skyscraper today. Broadgate Tower on Primrose Street – near Liverpool Street station – was closed off in both directions and a police cordon placed around the area. Witnesses, some of whom tweeted that they were stuck in the building as the [...]
Asda sales drop as boss Andy Clarke admits “pace and scale of change exceeded expectations” February 19, 2015 The boss of Asda has warned that the retail sector is in “one of its most challenging and changeable periods in history” as the supermarket today posted a drop in sales in 2014. The figures Like-for-likes at Wal-mart owned Asda dropped one per cent in the 12 months to December 31, while fourth quarter figures [...]
Thames Barrier issues flood alert for West London Thamesside properties between Putney and Teddington February 19, 2015 The Environment Agency has issued a flood alert for the Thames over the next few days, warning that riverside properties from Putney Bridge to Teddington Weir could be affected. The Thames Barrier forecasting and response team is predicting that the first of what it calls “very high tides” is expected this afternoon. That will [...]
RAF jets scrambled as Russian bombers seen flying off coast of Cornwall February 19, 2015 RAF fighter jets were scrambled to escort two Russian Bear bomber aircraft off the coast of England after they were seen flying “close to UK airspace”. The Typhoon fighters from RAF Coningsby in Lincolnshire were sent to escort the Russian planes after they were spotted flying near to Cornwall. A Ministry of Defence spokesman [...]
Neil Kinnock: Mansion tax is just the cost of lunch for the “prosperous” February 18, 2015 Former Labour leader Neil Kinnock has dismissed fears that the so-called mansion tax would hurt the pockets of middle class Londoners, saying it was little more than they spend on lunch. The controversial policy being put forward by the shadow government would see a levy imposed on homes worth more than £2m. The [...]