The company revealed that its customers typically use its mobile app eight times a month and spend 70 minutes online. At the moment only 15pc of the UK’s fashion market is online, but the Asos boss predicts this will reach 30pc to 40pc within the...
Read moreTesco grows market share for first time in five years
Of Tesco’s chief rivals, Sainsbury’s fared the best, posting a 0.4pc sales drop during the period. Sales fell 3pc at Morrisons, which has shut stores during the last year, reducing its share of the market. Asda continued to trough, with sales...
Read moreWilliam Hill scraps Amaya merger talks after shareholder dissent
Bookmaker William Hill has scrapped plans for a multibillion-pound merger with Canadian online poker giant Amaya just days after its largest shareholder openly opposed the deal. The London-based betting firm said it would consider...
Read moreICE told to sell energy trading firm Trayport after competition complaints
US markets giant InterContinental Exchange (ICE) has been told it must sell its new energy trading platform Trayport less than a year after it sealed a deal to buy the London-based firm. ICE, which owns the New York Stock Exchange, beat...
Read moreInstitutional investors eye more real estate, despite global uncertainty
The world’s institutional investors are continuing to up their allocations to real estate despite dropping confidence in the market. Average target allocations to real estate among investors will hit 10pc next year for the first time, according...
Read moreGovernment borrowing costs rise again on inflation fears
That does not mean the rising yields are over, however – investment bankers at Morgan Stanley, for example, are recommending that investors short the bond, meaning they will benefit from a further fall in prices and rise in yields. Inflation is...
Read moreDirty diesel generators in line for UK subsidies
While there is no guarantee that any of these projects will go on to secure subsidies, in previous years diesel plants have had a high success rate of about 75pc in the auction. If 4GW of diesel enjoyed a similar success rate and won similar...
Read moreMarket report: Luceco’s shares light up the market
Meanwhile, worries over the terms of Britain’s exit from the European Union and the prospect of the US Federal Reserve raising interest rates dampened investor confidence across stock markets. The FTSE 100 index of leading companies ended...
Read moreBank of England denies QE hurts businesses with pension funds
The Bank of England has denied that policies designed to help boost the economy were harming businesses even as companies threaten to scrap their dividends owing to widening pension deficits. In evidence to a parliamentary inquiry on Monday, Ben...
Read moreSir Philip Green hits back at MPs with barristers’ opinion
A legal opinion commissioned by Sir Philip Green has dismissed the conclusions of a parliamentary inquiry that sharply criticised the tycoon over the demise of BHS as “bizarre” and “unsupportable”. In an 82-page rebuttal seen by the Financial...
Read moreNetflix smashes earnings forecast as viewers flock to sign up
Netflix, which has hit shows including Stranger Things and Orange Is The New Black, reported a pre-tax profit of $79.1m, more than double the $34.3m consensus forecast among analysts. The firm expects new subscriptions to accelerate, predicting...
Read moreDIY investing can prove a lonely, rollercoaster ride
During January and February of this year, a total of £862m was withdrawn from equity funds, numbers that reveal a high degree of panic on the part of retail investors, and no doubt partially a result of the RBS research noted earlier and its...
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