6:24 am, August 19, 2024
Ted Baker’s remaining UK stores ‘to close’
Ted Baker’s remaining 31 stores in the UK are reportedly set to close this week, putting more than 500 jobs at risk.
Sky News reported that talks between Ted Baker’s owner, Authentic Brands, and retail tycoon Mike Ashley’s Frasers Group have stalled, with all stores expected to have shut by the end of Tuesday.
The business behind the fashion brand’s UK shops, No Ordinary Designer Label Limited (NODL), fell into administration in March.
Aslef says rail strikes called amid ‘toxic situation’ in dispute with LNER
Aslef’s lead negotiator has said the union is putting ‘members first’ in a ‘toxic situation’ after announcing a fresh series of strikes.
Train drivers working for LNER – which runs the passenger service on the East Coast main line between London and Edinburgh – will walk out on weekends from the end of August in a dispute about working agreements.
The dispute is separate from the long-running row over pay, which looks likely to be resolved after a new offer this week from the government.
The Rolls-Royce Phantom Scintilla Private Collection celebrates 120 years of the marque
Rolls-Royce has celebrated its 120th birthday with a unique version of its flagship Phantom luxury limousine – the Scintilla Private Collection.
There will only be 10 Phantom Scintilla Private Collections made and they will be sold exclusively through the firm’s private office network.
Finished in a two-tone paint scheme, featuring the upper body in Andalusian white and the lower body in Thracian blue, inspiration has been taken from the colours of the sea around the Greek island of Samothrace. There is also a hand-painted double coachline and wheel pinstripes finished in blue.
The markets
The FTSE 100 lost ground on Friday, after a bump in the price of sterling hit many companies in the index whose earnings are predominantly overseas. It fell 36 points to end the day on 8,311, a 0.4% fall.
France’s Cac 40 rose 0.35%, while Germany’s Dax index rose 0.77%. Stateside, the S&P 500 was up 0.16% as markets were closing in London, while the Dow Jones was also up 0.18%.
Positive data on retail sales in the UK caused the pound to rise on Friday. Sterling was 0.4% up at 1.291 US dollars, and 0.17% against the euro at 1.174 as markets closed.
Friday on Car Dealer
Riverside Motors enjoys pre-tax profit growth after previous tumble
Riverside Motors’ 2023 pre-tax profit rose by £410,000 (7.3%) to £6.03m, with turnover increasing 20% to £252.2m. Gross profit margin improved to 5.3%. The company, financially strong with £24.47m in net assets, plans further growth.
Sun Motors launches with aim of shaking up UK’s car-buying and financing landscape
The Sun has launched ‘Sun Motors’, a car listing and financing platform in partnership with Motor Genius Group. Focused on trusted dealerships, it aims to transform UK car buying with advanced technology, extensive reach, and industry-leading finance options for dealers.
Ulez scrappage scheme for used cars to be axed amid ‘sharp drop’ in applications
London’s Ulez scrappage scheme will end in three weeks due to a sharp drop in applications. The scheme, which supported vehicle upgrades to meet emissions standards, improved air quality and will now focus on vehicle donations to Ukraine.
Land Rover Discovery Sport makes top profit for used car dealers again and is selling faster than ever – Dealer Auction
The Land Rover Discovery Sport topped Dealer Auction’s July chart for highest profit margins, averaging £3,525 per sale, and was the fastest-selling used car, taking just 26 days to sell. Land Rover, Jaguar, and Mercedes-Benz led in overall profitability.
Weather
Western and northern areas will be cloudy and breezy with showery rain, reports BBC Weather. It’ll be dry with sunny spells in the south-east; temperatures will be 25 degrees in the sun, and around 20 in rainy areas.
Showery rain will linger tonight, although it will turn drier towards dawn.
