Shopping centre owner Intu has acquired the lease of three malls from the Westfield Group including 50% of the Merry Hill centre near Birmingham. The deal, worth £867.8 million also includes a 1.3m square foot centre in Derby and the Sprucefield retail park in Northern Ireland. ...
Bankrupt Japanese firm MtGox has said that it found 200,000 bitcoins in an old digital wallet from 2011.The company, formerly the world's largest bitcoin exchange, filed for bankruptcy in February having lost 850,000 units of the digital currency, worth £70 million, to hackers. ...
Five carpet retailers have agreed to change their pricing practices following an investigation by the Office of Fair Trading (OFT). The Carpetright, Furniture Village, Dreams, Harveys and Bensons for Beds chains were found to use some promotional offers which were not genuine. This included advertising some normal retail prices as...
A cash machine at a Tesco branch in Salford was stripped of £80,000 by thieves who built a 50ft tunnel into the store.The theft happened on Friday at Tesco between midnight and 06:00, police said.Det Sgt Mark Toker, of Greater Manchester Police, said: "These people had obviously spent a long...
The world’s biggest fashion group, Inditex, has seen its first annual profit fall in five years, hit by investment in stores and weak currencies in its non-EU markets hit financial targets.In the 12 months to the end of January net income rose by just 1% to Eu2.4 billion (£2 billion)....
Sony has unveiled a prototype virtual reality headset for its PlayStation 4 console after three years of research and development.The headset will be available to developers but currently has no commercial release date.Shuhei Yoshida, president of Sony's Worldwide Studios, said that Sony believes virtual reality will shape the future of...
Fashion chain Next has hailed a “great year” for the company, with an 11.8% rise in annual profits to £695.5 million and doubling its estimates for sales growth in the next 12 months.Sales for Next Directory, our online and catalogue business, grew by 12.4% narrowing the gap with the retail...
The British Retail Consortium (BRC) has said that it broadly welcomes the chancellor’s budget, in particular the focus on changing the tax thresholds, fuel duty and savings and pensions arrangements.The BRC’s director general, Helen Dickinson said: "As an industry that employs over one million people under 25, we applaud the...
The British Retail Consortium and the Department for Work and Pensions have announced their commitment to working increasingly closely in an effort to get more people, especially those under 25, into careers in the retail sector.A formal partnership agreement was launched this week by BRC director general, Helen Dickinson and...
Leicester City Council has said that tests it conducted on meat products showed that half of all samples contained the DNA of other animals than were declared.The tests were implemented in order to reassure local communities after a halal lamb burger made by a company supplying local schools was found...
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