CMA puts brakes on Amazon’s Deliveroo investment July 5, 2019 The UK’s competitions watchdog will examine Amazon’s investment in Deliveroo, it said this morning, putting the brakes on the multi-million pound deal. The internet retail giant took a stake in Deliveroo in May, leading a $575m (£450m) funding round. It did not reveal the exact size of the stake. Read more: Amazon leads £450m Deliveroo [...]
High street sales suffer wash out June July 5, 2019 High street retailers suffered a wash out month for sales in June in a further blow for the struggling sector. Brexit uncertainty continued to have a “crippling” effect on retailers three years on from the referendum, accountancy firm BDO said, as it revealed that like-for-like in store sales fell by 0.8 per cent last month. [...]
Shareholders vote to back Coupe in Sainsbury’s showdown July 4, 2019 Under-fire Sainsbury’s boss Mike Coupe was lambasted by shareholders at a tense investor showdown earlier today, as the supermarket chain faced a set of tough questions following a torrid 12 months. Disgruntled shareholders slammed Coupe and the board at the firm’s annual general meeting (AGM) over its falling share price, which has plunged by almost [...]
Richard Branson shares images of Virgin Voyages cruise liner July 4, 2019 Billionaire Richard Branson revealed images and details of his Virgin Voyages cruise line today, which will feature on-board gyms, 20 restaurants and cafes, and a record store. Branson said he had been “dreaming” of starting a cruise business since the beginning of his career. Read more: Sir Richard Branson looking for additional investment in Virgin [...]
Competition watchdog seeks to find Viagogo in contempt of court July 4, 2019 The UK’s competition watchdog is to launch proceedings to find online ticket marketplace Viagogo in contempt of court, it announced today. Read more: MPs warn consumers against using ticket reseller Viagogo The Competition and Markets Authority (CMA) said the move comes after Viagogo allegedly failed to overhaul the way it presents information on its website [...]
Magners owner C&C Group eyes up London listing July 4, 2019 Magners cider manufacturer C&C Group has announced plans to move its listing to London as it looks to target new investors in the capital’s “key” financial market. The drinks giant is currently listed on both the Euronext in Dublin and the premium segment of the London Stock Exchange. Read more: Pub operator Ei Group’s profits [...]
Sports Direct hit with second senior departure in a week July 4, 2019 A senior figure within Mike Ashley’s Sports Direct has left the firm, marking the second high-ranking departure in under a week. The high street retailer’s company secretary Cameron Olson is leaving the firm to return to Australia for personal reasons, a spokesperson said today. The news, first reported by Press Association, comes just days after [...]
4,500 jobs at risk as William Hill prepares to close 700 stores July 4, 2019 Betting firm William Hill today said it will consult on shutting around 700 stores across the country, putting 4,500 jobs at risk. The firm blamed the government’s decision to introduce a maximum £2 bet cap on fixed-odds betting terminals in April. Read more: Regulator bans William Hill’s cheeky Tinder advert The previous limit was £100. [...]
Game management to sell shares to Ashley’s Sports Direct July 4, 2019 Directors at retailer Game have urged shareholders to accept a £52m takeover offer from Sports Direct, saying they intended to sell their own shares to Mike Ashley’s company. Read more: Game recommends Sports Direct takeover offer Game previously recommended the offer of 30p per share, which it said was “fair and reasonable”. The bid came [...]
Superdry taps two top finance bosses after boardroom exodus July 4, 2019 Superdry has appointed two retail finance heavyweights to its board as it looks to restore order after an exodus of board members. The fashion chain has appointed Helen Weir and Alastair Miller as directors, with the appointments set to take effect from 11 July. Read more: Superdry delays results after issuing profit warning Weir was [...]
