Podcaster Audioboom eyes possible merger or sale February 8, 2020 The AIM-listed podcasting group, Audioboom, has asked bankers to help it explore the possibility of a merger or sale. The group, which is backed by property tycoon Nick Candy, has asked New York-based bank Raine to undertake a strategic review that could see the company taken over by a rival, according to Sky News. Raine’s [...]
Apple fined for slowing down old iPhones February 8, 2020 Apple has been fined 25m euros (£21m) for deliberating slowing down its older iPhone models and not making customers aware. The fine, which was imposed by France’s competition and fraud watchdog DGCCRF, was for failing to make this clear to consumers. Apple admitted in 2017 that it slowed down some of its iPhones but only [...]
Burberry says coronavirus has had ‘more significant impact on sales than Hong Kong protests’ February 7, 2020 Burberry has said that the coronavirus outbreak in China has had a more significant impact on its sales than the last year’s Hong Kong protests. The luxury fashion group has had to close around 24 of its 64 stores in China, while the rest were operating on reduced hours. The Chinese market accounts for around [...]
Pets at Home appoints new chairman February 7, 2020 Pets at Home has appointed current Studio Retail Group chair Ian Burke as its new chairman. Burke will takeover the role from the outgoing non-executive chairman Tony DeNunzio following a hand over process. The pet product and veterinary company announced that DeNunzio would be stepping down in its interim results last November. In a statement, [...]
High street toasts strong start to 2020 as sales jump to six-year high February 7, 2020 Retailers hailed the best in-store sales figures for six years last month, as the end of the Brexit deadlock sparked a surge in consumer confidence. Like-for-like sales at physical stores increased 5.7 per cent in January from a base of minus 0.2 in 2019, following the “worst year on record” for retailers. Bricks and mortar [...]
Experts slam business rates appeals system February 6, 2020 Property experts today said the business rate appeals system is a “time bomb” as the backlog of claims and challenges spiked. Businesses could be waiting years for their challenges to be addressed due to the backlog of appeals, experts said. Data from HM Revenue and Customs’ Valuation Office Agency (VOA) showed that in the 33 [...]
Estee Lauder cuts profit forecast amid coronavirus outbreak February 6, 2020 Cosmetics giant Estee Lauder has slashed its profit forecast for the year, citing the recent Coronavirus in epidemic, one of its key markets. The beauty brand said it expects adjusted earnings of $5.60 to $5.70 per share in 2020, down from a previous estimate of $5.85 to $5.93. Analysts were expecting earnings to reach $5.94 [...]
Landlord row forces House of Fraser to close another store February 6, 2020 Sports Direct boss Mike Ashley has been forced to close another House of Fraser store after being served notice by the landlord. The branch in Dundrum, near Dublin, will close within the next three months after the property’s landlord agreed a deal with Brown Thomas and Primark. Ashley warned in December that it was likely [...]
Nintendo warns coronavirus will dent console production February 6, 2020 Japanese games giant Nintendo has warned today that the coronavirus outbreak meant “unavoidable” delays to the production and shipping of its Switch console to Japan. The virus has now killed 563 people and infected more than 28,000 in China. Beijing has put the country on lockdown in a bid to contain the spread, limiting its [...]
Compass hails revenue rise but warns of currency hit February 6, 2020 Catering company Compass saw organic revenue rise 5.3 per cent for the last three months of 2019 as it landed new US contracts and held onto customers. Organic revenue climbed 7.5 per cent in North America, particularly thanks to appetite among the business, healthcare and education sectors. In Europe organic revenue was flat, however, which [...]