Cineworld suffers from weak box office as it lowers 2019 expectations December 3, 2019 Cinema group Cineworld blamed a weaker box office as the company said it expected trading for the full year to be below expectations. Shares in Cineworld rose nearly two per cent in the morning’s trading. Read more: Cineworld sets hopes on The Lion King as first half revenue drops The figures Total group revenue fell [...]
Takeaway.com lashes out at Prosus ‘scaremongering’ in battle to buy Just Eat December 3, 2019 Takeaway.com has accused Prosus, the company it is competing against to buy Just Eat, of “scaremongering” to try to persuade shareholders to accept its rival offer. The Dutch food delivery firm has had a £5bn bid accepted for Just Eat but tech group Prosus has come in with a rival 710p per share offer. Read [...]
France vows to hit back at US tariffs as luxury stocks fall December 3, 2019 The European Union will hit back at “unacceptable” US tariff threats against French products, finance minister Bruno Le Maire has warned. Shares in luxury French retailers took a hit this morning after the US issued new tariff threats in retaliation against the country’s new tech tax. Read more: US to slap France with tariffs over [...]
New beer and pubs boss looks to ensure industry keeps its fizz December 3, 2019 Beer is proof God loves us and wants us to be happy” is a quote that adorns tourist-tat t-shirts and bar mirrors across the world. It also, as far as anyone can tell, was never actually said by the man usually given credit — Benjamin Franklin. But regardless of whether the Founding Father uttered the words, [...]
Black Friday 2019: Sales up in November after discount event December 3, 2019 Retail sales increased last month thanks to a bumper Black Friday, as shoppers made the most of the pre-Christmas discounting event. November sales figures – adjusted for Black Friday, which fell outside of the British Retail Consortium’s standard recording period – showed 0.9 per cent growth compared to last year. Read more: Black Friday spending [...]
Food delivery apps serve up extra £400m in restaurant revenue December 2, 2019 Food delivery apps such as Deliveroo, Just Eat and Uber Eats are serving up an extra £400m in revenue for European restaurants, according to a new report. Third-party platforms, that customers can use to order food from a variety of restaurants, have also increased profit across the Europe’s restaurant sector, with venues in London seeing [...]
Unions protest outside Amazon’s London HQ on Cyber Monday December 2, 2019 Union members demonstrated outside Amazon’s London headquarters this morning and accused the e-commerce giant of failing to pay the correct amount of corporation tax. The GMB union estimated that the retailer should have paid £103m in corporation tax last year, but claims the company’s biggest UK arm paid £14m of tax on £2.3bn worth of [...]
Ted Baker share price sinks into acquisition territory after £25m balance sheet error December 2, 2019 Ted Baker has warned investors that it is set to take up to a £25m hit after overstating the value of inventory on its balance sheet. The retailer has appointed Freshfields Bruckhaus Deringer to investigate the issue and told shareholders that it estimates an impact on the value of the clothing stock of between £20m [...]
Ocado offers £500m in bonds after Aeon warehouse deal December 2, 2019 Online grocer Ocado today announced a £500m bond issue as it seeks cash to fund tech arm Ocado Solutions’ commitments. The company said that the guaranteed senior unsecured convertible bonds, due 2025, are expected to carry a coupon of between 0.75 per cent and 1.25 per cent a year. Read more: Ocado shares soar on [...]
Cat Rock says Prosus will have to raise Just Eat bid to 925p per share December 2, 2019 Activist investor Cat Rock has said it will throw its weight behind Just Eat’s Takeaway.com merger unless Prosus raises its offer to 925p per share. The Dutch food delivery firm has had a £5bn bid accepted for Just Eat but tech group Prosus has come in with a rival 710p per share offer. Read more: [...]