Latest finance news – Page 621
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Baugur in administration
Updated: Baugur’s stakes in retailers House of Fraser, Hamleys, Aurum and Iceland have been placed in to administration.
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Clinton Cards enters talks to refinance
Clinton Cards is in informal discussions with its lenders as it seeks to renew its revolving credit facilities.
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Retailers rally against recession as they outperform the index
General retail stocks and food retailers outperformed the All Share index after a better than feared festive reporting season.
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Ideal Shopping direct: buyout speculation
Ideal Shopping Direct chief executive Mike Hancox has denied that its founders are plotting to take the TV shopping group private after they ousted board members.
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Carpetright invests in ads as rivals flounder
Carpetright is to plough more cash into its advertising this year as it seeks to take advantage of competitors suffering in the recession.
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Baugur stakes in retailers seized
Baugur stakes in retailers including House of Fraser, Hamleys, and Iceland have been placed under the control of nominated receivers to prevent any asset sale.
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Signet sales fall prompts cash and costs focus
Anglo-American jeweller Signet is to slash costs and concentrate on cash generation after suffering a fourth-quarter sales slump.
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Interest rate slashed to 1 per cent
The Bank of England has slashed the interest rate to a record low of 1 per cent, a 0.5 percentage point drop.
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Marks & Spencer wins £3.5m teacake tax battle
Marks & Spencer has won a landmark VAT battle about whether a chocolate-covered teacake should be treated as a biscuit or a cake.
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Baugur on the brink of administration as Landsbanki pulls funding
Icelandic investment giant Baugur is understood to be on the brink of falling into administration after its backer Landsbanki pulled its funding.
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New year cheer for electricals sector as Sales spur spending
Electricals retailers are enjoying a surprise new year sales surge as consumers continue to clamour for January Sales bargains.
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New year cheer for electricals sector as Sales spur spending
Electricals retailers are enjoying a surprise new year sales surge as consumers continue to clamour for January Sales bargains.
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Morrisons' value focus wins festive food fight
Morrisons performed strongly in the south of England over the festive period as shoppers switched from premium retailers to its value proposition.
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Food trails behind rest of sector as reporting season concludes
General retail stocks led the pack while food groups lagged a wider market rise as the January reporting season drew to a close.
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Adili's festive sales soar
Ethical online retailer Adili recorded a 102 per cent rise in total sales over the key festive season.
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Blooming Marvellous in administration
Updated: Maternity specialist Blooming Marvellous has gone in to administration as exclusively revealed by Retail Week on Wednesday.
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Sports Direct stake in JJB cleared by the Office of Fair Trading
The Office of Fair Trading (OFT) has cleared the purchase of 11.9 million JJB shares by Sports Direct founder Mike Ashley, saying it does not represent a possible merger.
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Homebase in consultation with 300 store staff
Homebase is in consultation with up to 300 of its staff as the struggling DIY retailer seeks to realign its store leadership structure in the difficult trading environment.
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Vulture funds circle UK retailers
UK retail is among the sectors likely to be most actively targeted this year by so-called vulture funds that invest in distressed companies.