Startups urge caution over buy now pay later regulation July 26, 2021 British startups have urged caution over the City watchdog’s plans to regulate the £2.7bn buy now pay later market. The Financial Conduct Authority (FCA) is set to crack down on companies such as Klarna and Clearpay after the number of BNPL transactions across the UK tripled last year. But a lobby group representing startups has [...]
Bridgepoint mulls selling Burger King UK for a beefy £500m July 26, 2021 The owner of Burger King has plotted early stage talks to sell the fast food retailer for some £500m just days after it listed on London’s top market, according to reports. Bridgepoint, the private equity owner behind Burger King, floated on the London Stock Exchange last week in a rare listing that raked in £300m [...]
Selfridges on sale as owners launch auction starting at £4bn July 26, 2021 Selfridges’ owners, the billionaire Weston family, has launched a formal auction to sell its chain of department stores. Advisers at Credit Suisse are starting to look for a buyer and will send out information to target potential bidders and kick off the process. The company is valued at around £4bn. Potential suitors are said to [...]
LSE-listed Kanabo to buy distributor and stoke European cannabis uptake July 26, 2021 Kanabo, the first medical cannabis company to list on London’s top market, is set to buy a distributing company as it plots expansion into Europe. The deal with Materia, a processor and distributor of medical cannabis and CBD products, will make Kanabo Europe’s largest public cannabis company. Kanabo’s board has been eyeing new partnerships to [...]
Swedish drinks firm Kopparberg sues HMRC over tax loophole July 26, 2021 Swedish cider maker Kopparberg has filed a High Court claim against HM Revenue and Customs over allegations of unlawful tax discrimination. The popular booze brand argues that the UK applied excessive duties on imported alcoholic ciders by allowing domestic producers to dilute their products to avoid taxes. The tax loophole, known as post duty point [...]
Visitors migrate back to London’s West End as venues throw open their doors July 26, 2021 Visitors are beginning to migrate back to London’s tourism spots like the West End, as last week’s ‘Freedom Day’ meant theatres and clubs could throw open their doors for the first time in over a year. Last week’s heatwave meant locals and visitors alike could make the most out of London’s reopening – before the [...]
JD Wetherspoon boss Tim Martin hits out at Test and Trace app July 25, 2021 JD Wetherspoon chief Tim Martin has claimed the UK is being “laid to waste” by the Test and Trace app as one-in-eight of the pub chain’s staff are forced to self-isolate. Martin said 5,000 of his 40,000 staff were pinged by the app last week alone, causing labour shortages at some of the chain’s 925 [...]
Thousands descend on Latitude music festival July 23, 2021 Thousands of people poured into the grounds of the Latitude music festival in eastern England on Thursday, one of the biggest gatherings since most coronavirus restrictions were lifted earlier this week. Watch the full report.
Mr Kipling manufacturer Premier Foods sales ahead of expectations July 23, 2021 Premier Foods have reported stronger than expected sales as the Mr Kipling manufacturer’s healthier ranges have proven popular with consumers. Group sales were up by 6.3 per cent compared to two years ago – at top end of Group’s expectations – while its branded sales also rose, by 9.3 per cent. The Hertfordshire-based company published [...]
Mattress maker Simba posts record profits as rival store closures cushion sales July 23, 2021 London-based sleep-tech company Simba has posted its highest ever half-year profits, as rival store closures cushioned sales. Simba’s first-half sales soared 130 per cent in the weeks to 30 June, in comparison with the same period in 2020. The company, which focuses on mattresses, had already seen strong sales growth of 66 per cent last [...]
