Temu owner PDD shares plunge after profit warning August 27, 2024 Shares in Pinduoduo (PDD Holdings), the Chinese owner of discount retailer Temu, have plunged by nearly 29 per cent in New York in a move that has wiped $55bn (£41.6bn) off the company’s market value. The steep decline followed a warning from management about an impending nosedive in profits, causing investors to reassess the company’s [...]
Shein uncovers child labour in its supply chain August 23, 2024 Fast fashion giant Shein has admitted it found two cases of child labour in its supply chain last year in a revelation that will likely fuel concerns in the City ahead of potential blockbuster float on the London Stock Exchange.
Shein considers selling shares to public in potential £52bn London listing August 21, 2024 Fast fashion giant Shein is reportedly considering selling its shares directly to the British public as part of a potential £52bn listing on the London Stock Exchange. The company’s bankers, including JP Morgan, Goldman Sachs and Morgan Stanley, are pushing for plans to sell to retail investors along with institutional investors, according to The Telegraph. [...]
What is waiting in business secretary Jonathan Reynolds’ in-tray? July 8, 2024 Jonathan Reynolds’ in-tray is already piling up with urgent issues. We take a look at a few of the day one problems facing the new business secretary.
Shein London Stock Exchange float would trigger talks on tax, Reynolds suggests July 7, 2024 Shein would be expected to meet “ethical and moral targets” on “all aspects of business” if it lists in London, the business secretary said.
Signs of life appear for the London Stock Exchange as activity ‘gathering momentum’ July 3, 2024 Having been in the doldrums for several years, sentiment on the London markets is starting to look up.
Shein, trade and tax: Labour and Tories clash on business June 27, 2024 Morning Wire's Charlie Conchie and Jess Frank-Keyes unpick the election business debate between Kemi Badenoch and Jonathan Reynolds.
FCA under pressure to block Shein listing over forced labour concerns June 26, 2024 The Financial Conduct Authority is under pressure to block the listing of fast-fashion giant Shein due to concerns over the company’s alleged use of forced labour in its supply chains.
Shein files papers for £52bn London listing – reports June 25, 2024 Shein has confidentially filed papers for an initial public offering on the London Stock Exchange, according to reports.
Labour backs Shein London IPO – but it would enforce the ‘highest standards’ June 24, 2024 Labour would want Shein “regulated from the UK”, Jonathan Reynolds has confirmed, ahead of a potential London listing.