Cineworld share price plunges over 50 per cent amid bankruptcy reports August 19, 2022 Cineworld’s share price has plunged more than 53 per cent today amid reports it is filing for bankruptcy. Investors bailed out of the stock, leaving it with a share price of 4.5p a piece. However, shareholders have been stepping back for more than a year. The cinema chain had been hit particularly hard by successive [...]
Watch the trailer for Sky dramatisation of Boris Johnson’s first days in office battling Covid, Brexit and controversy August 19, 2022 As Boris Johnson enters his final few weeks in Number 10, the trailer for a new Sky drama detailing his first months in office has been released. BAFTA and Academy Award-winner Kenneth Branagh portrays the flamboyant prime minister in the tumultuous early stages of his term, as he battles the first Coronavirus wave, Brexit and [...]
Bosses at Joules brace for ‘significant loss’ in pre-tax profit this year August 19, 2022 Bosses at retailer Joules are bracing for a “significant loss” in profit in the first half of this year, as inflation and the recent heatwave hit sales. While the company expects its finances to improve in the second half of the year, the board announced today, Joules is expected to report a pre-tax loss for [...]
Just Eat sells £1.5bn stake in Brazilian food delivery giant August 19, 2022 Delivery giant Just Eat Takeaway has sold its stake in Brazilian counterpart iFood for €1.8bn (£1.5bn) to local internet company Movile. The 33 per cent stake in iFood, which has dominated the market share in Brazil, will bolster Movile’s food ordering and delivery segment, although it also operates across ticketing and logistics. The deal includes [...]
UK retail sales recover with the lure of summer promotion deals despite inflation August 19, 2022 Retail sales have recovered since June, as penny pinching Brits seek to navigate worsening inflation, according to official figures today. Around three quarters of adults have said they are very or somewhat worried about the rising costs of living in the past two weeks, according to a separate poll by the ONS. Sales, carried by [...]
Soho House owner cuts yearly forecast despite buoyant UK membership August 18, 2022 The company behind Soho House has slashed its yearly forecasts even as its UK membership has soared. Membership Collective Group said that Soho House had boosted its UK membership by 20 per cent in the past year from 45,277 to 54,764. The Wall St-listed group marked a 96 per cent revenue, with sales hitting $243.8m. [...]
Brits’ spending drops sharply as recession clouds gather August 18, 2022 Brits’ credit and debit card spending dropped dramatically over the past week, according to fresh data published by the Office for National Statistics. This data ranked at 97 per cent of its level in February 2020, the month prior to the country’s first Covid lockdown. The figures are based on Bank of England CHAPS interbank [...]
Downing tools: Investors pile into bets against B&Q owner as DIY boom slows August 18, 2022 The troubled owner of retailer B&Q has become the most shorted stock on the London Stock Exchange this week as two top investors revealed hefty bets against the firm.
Madame Tussauds owner Merlin Entertainments slams ‘wholly inappropriate’ winding up petition from Experian August 18, 2022 The owner of Madame Tussauds and London Dungeons has been slapped with a winding up petition by Experian. Merlin Entertainments, which owns theme parks such as Alton Towers and Legoland as well as some of London’s top cultural destinations, faces proceedings due to a dispute over debt. A winding up petition sees unpaid creditors take [...]
Mary Portas: Future of high street is ‘less retail but better retail’ August 18, 2022 The future of the high street will involve “less retail but better retail”, according to broadcaster and retail guru Mary Portas. More than nine in ten retailers believe the UK high street is suffering, according to new research from marketplace Ankorstore, backed by Portas. High street firms are facing turmoil including heightened energy bills, staff [...]
