Latest finance news – Page 173
-
NewsPoundland parent delays flotation amid coronavirus volatility
Stock market volatility triggered by coronavirus fears and the unrelated illness of boss Andy Bond has prompted Poundland owner Steinhoff to hold off on floating the value retailer.
-
NewsIntu on the brink after reporting £2bn valuation loss
Shopping centre giant Intu has reported a £2bn loss for its last financial year and warned it is at risk of going under if it cannot raise more funds.
-
NewsMoss Bros to be bought by Crew Clothing owner Michael Shina
Moss Bros is set for a return to private ownership after agreeing terms on a cash bid from the owners of Crew Clothing.
-
NewsAdidas and Puma profits battered by coronavirus
Sportswear giants Adidas and Puma have suffered a drop in sales in China as a result of coronavirus and warned the disruption would impact other markets.
-
NewsWHSmith warns on profit as coronavirus hits travel business
WHSmith has slashed its full-year profit forecast as the coronavirus pandemic takes it toll on its travel division.
-
NewsBudget: ‘Fundamental’ review of business rates to be completed by autumn
New chancellor Rishi Sunak has confirmed the government’s “fundamental review” of business rates will be completed in time for the autumn statement.
-
NewsInterest rates slashed in emergency move ahead of budget
The Bank of England has this morning announced an emergency cut in interest rates in a bid to shore up the faltering economy hit by the gathering coronavirus outbreak.
-
NewsB&M completes sale of German business
Value retailer B&M has completed the sale of its German business Jawoll, five months after opening a strategic review into its performance.
-
NewsFrench Connection swings to loss as UK woes continue
French Connection has swung to a loss after a worse-than-expected year and says the chances of trading improving in the UK in the foreseeable future are unlikely.
-
NewsDFS profits fall as coronavirus plays havoc with full-year guidance
DFS has reported a decline in both profits and sales and warned that the developing coronavirus outbreak has made it impossible to give accurate guidance on its full-year results.
-
NewsUsdaw calls on chancellor to ‘save our shops’ ahead of budget
Usdaw has added its voice to retailers in calling on the chancellor to deliver urgently needed business rates reforms to “tackle the retail sector crisis”.
-
NewsReiss profits and sales soar after ‘strongest’ results in its history
Reiss has reported soaring profits and sales for the last financial year, in what the brand described as its “strongest” set of results in its history.
-
NewsCo-op boss Murrells calls for business rates reform to save small towns
The Co-op’s chief executive Steve Murrells has urged Chancellor Rishi Sunak to reform the business rates system ahead of the budget this week.
-
NewsJohn Lewis pays lowest bonus since 1953 as profits slump
John Lewis Partnership will pay staff its lowest bonus for more than 60 years after suffering a drop in full-year profits and a write-down in the value of its property.
-
NewsB&Q and Screwfix owner Kingfisher relegated from FTSE 100
DIY giant Kingfisher has been booted out of the FTSE 100 following its quarterly review.
-
NewsIntu to explore options after £1.5bn equity raise fails
Intu has failed to raise the £1.5bn needed to refresh its credit ahead of publishing its full-year financial results next week, but said it remained hopeful of fixing its balance sheet.
-
NewsBusiness leaders make fresh call for rates reform ahead of budget
Business leaders have written a letter to the new Chancellor ahead of his first budget this month calling for a number of reforms to business rates.
-
NewsGreggs profits and sales climb in ‘exceptional’ year
Greggs has reported a strong rise in full-year profits and sales but warned that its current year’s financial performance could be hit due to “the potential impact of coronavirus”.
-
NewsKingfisher and Morrisons FTSE 100 status in jeopardy
B&Q owner Kingfisher and grocer Morrisons both face potential ejection from the FTSE 100 this week.
-
NewsDebenhams rejects claims that lender commitment is in doubt
Debenhams has slammed down suggestions that the commitment of its lenders to a debt for equity swap is in question and that debt restructuring was reliant upon more deep rent reductions.