All City & finance articles – Page 120
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OpinionOpinion: The CMA is on a power trip – and retail should be worried
Lord Andrew Tyrie hasn’t written his memoirs yet. If and when he does, he might want to consider borrowing the title: How to Lose Friends and Alienate People.
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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.
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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”.
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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.
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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.
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NewsAsda circled by raft of potential buyers
Petrol station tycoons and private equity houses are understood to be among those interested in taking a majority stake in Walmart-owned Asda.
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NewsCoronavirus could spark UK economic growth downgrade
The coronavirus crisis could spark a downgrade of economic growth in the UK, the governor of the Bank of England has warned.
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NewsConsumer confidence inches up for third month in a row
Consumer confidence rallied for a third straight month in February as wages and house prices rose, unemployment remained low and inflation stayed stable.
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NewsTopps Tiles warns on profits as sales slide
Topps Tiles has warned that profits will fall below expectations after continued tough trading.
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NewsWalmart ‘in discussions’ to sell Asda stake
Asda’s parent company Walmart has said it may sell a stake in the business and has opened discussions with a “small number of interested parties”.
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NewsIntu credit extension dependent on raising £1.3bn equity
Embattled landlord Intu has agreed on an extension to its credit facilities with its lenders as long as it can raise at least £1.3bn of equity.
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OpinionOpinion: Hammerson’s issues are symptomatic of a broken property market
Hammerson’s latest set of financial results are symptomatic of the wider issues plaguing the UK retail property market and the institutional landlord is unlikely to be the only one feeling the effects.
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NewsMcColl’s to close more than 300 stores over next four years
The chief executive of McColl’s has said the convenience store group will look to shut as many as 330 stores over the next three or four years as it seeks to rationalise its store estate as part of its strategic shift.
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NewsMcColl’s profits slump as it seeks new debt arrangement
Struggling convenience store group McColl’s has posted declining profits and sales figures and confirmed it is in discussion with lending banks about a new debt facility.
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NewsHammerson eyes further disposals this year with ‘nothing off the table’
Hammerson is considering further disposals this year and selling stakes in assets across its flagship centre and premium outlet portfolios, according to a senior executive.
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NewsTesco exits China with £275m deal
Tesco has sold its 20% holding in Chinese business Gain Land as it increases focus on its core operations.
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NewsPrimark reports sales rise, but warns coronavirus may hit supply
Primark has reported an uplift in interim sales driven by its new space, but flagged that if coronavirus persists it may result in some product shortages later in the year.
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NewsHammerson sells remaining retail parks at a discount
Institutional landlord Hammerson has confirmed the sale of its remaining portfolio of retail parks at a “wider than expected” discount, as it looks to shore up its balance sheet.
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NewsVictoria’s Secret to go private in $525m deal as CEO exits
Victoria’s Secret is set to be taken private as a controlling stake in the business is acquired by investment firm Sycamore Partners.
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NewsForever 21 bought out of bankruptcy
US-based fast-fashion retailer Forever 21 has been bought out of bankruptcy by three buyers with international ambitions for the brand.