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Asos shares plunge as investors ‘lose confidence’ in retailer’s turnaround plan
Asos shares have plummeted over 8% in early trading, exacerbating losses accumulated over several months as investors’ faith in the retailer’s recovery strategy has dwindled. The e-commerce company’s share price has fallen by a third in the past month and has halved since the start of the year, with a 15% decline in the last …
Business
Business Live
Portishead Railway gets back on track as £27m funding approved
The West of England Combined Authority has committed £27m to resurrect the Portishead Railway line. Work on the long-awaited project is set to start in the summer – some 61 years after the line’s closure. The news comes after a period of uncertainty last year when government funding for the project was withdrawn. But following …
Business
Sky News
Digital lender OakNorth to be parent of US bank CUB
OakNorth, the British-based digital bank, will this week unveil a milestone US deal that will pave the way for it to launch a significant expansion on the other side of the Atlantic.Sky News has learnt that OakNorth, which is chaired by the former City watchdog chair Lord Turner, will on Monday announce that it has …
Business
Sky News
Premiership Rugby rivals and CVC to fund Newcastle Falcons loan
English rugby union’s top teams and the sport’s private equity backer are in advanced talks to fund a multimillion pound loan to Newcastle Falcons to help it meet financial criteria allowing it to play next season.Sky News has learnt that the nine other Gallagher Premiership Rugby sides, which include current league leaders Bath, Saracens and …
Business
Business Live
91m mast could pave the way for ‘England’s largest onshore windfarm’
A proposed 91m meteorological mast on moorland to the north of Manchester may pave the way for the creation of England’s largest onshore wind farm, if authorities give the go-ahead. Cubico Sustainable Investments revealed plans last year for Scout Moor II, with 21 powerful wind turbines across the moors bridging Greater Manchester and Lancashire, adjacent …
Business
Business Live
Vanquis shares plummet as it posts £34.8m loss for 2024
Vanquis Banking Group, the specialist lender, has reported that its “turnaround” is “on track”, despite posting a loss in 2024. The Bradford-based firm recorded a £34.8m loss, a significant decrease from its pre-tax profit of £17.3m in 2023, as reported by City AM. The company’s bottom line was impacted by the rising cost of dealing …
Business
Business Live
Promotional products firm 4imprint reports 10% rise in profit
4imprint, the promotional products manufacturer, has announced a 10% increase in profit for 2024, outperforming the wider market and growing its market share. The company revealed to markets this morning that revenue climbed by three per cent year on year to £1.36bn, up from £1.32bn the previous year, as reported by City AM. The London-based …
Business
Business Live
LVMH-backed Stella McCartney brand sees sales slump as losses widen by £15m
Stella McCartney’s fashion brand has reported a significant drop in sales, with losses increasing by £15m in the year before the designer bought out LVMH. The accounts, filed nearly six months after the Companies House deadline, reveal that Stella McCartney Ltd’s turnover was cut from £40m to £21.9m in 2023., as reported by City AM. …
Business
Sky News
Digital therapeutics group Strolll lands tonic of £10m funding boost
A digital therapeutics start-up which uses augmented reality (AR) glasses to aid people suffering from disorders including Parkinson’s disease and multiple sclerosis will this week announce a £10m funding injection.Sky News understands that Strolll, which was founded five years ago, has secured the new capital in a round led by IW Capital, which has backed …
Business
Sky News
Man Utd unveil plans to build new £2bn ‘umbrella’ stadium
Manchester United have unveiled plans for a new 100,000-seater stadium – the biggest in the country.Minority owner Sir Jim Ratcliffe has been vocal about his desire for a new, state-of-the-art ground ever since he purchased almost 30% of the club in February last year. United were previously examining whether to redevelop the historic Old Trafford …
Business
Sky News
Boohoo rebrands as Debenhams
Boohoo, the struggling online fashion retailer, has renamed itself Debenhams Group.The company, which has been locked in a battle with its largest shareholder Mike Ashley’s Frasers Group over direction and performance, announced a strategic review last year after the departure of chief executive John Lyttle. His successor Dan Finley said on Tuesday that a turnaround …
Business
Sky News
Unwitting participants of tax avoidance schemes hit with crippling HMRC bills
Hays, Capita, Petrofac. These are some of Britain’s best known companies and big players in the recruitment industry. Now, a Sky News investigation has revealed how, over the course of two decades, some of Britain’s biggest recruitment companies were linked to large-scale tax avoidance when placing workers into jobs, including government roles in Whitehall. Many of …

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