B2B Engagement

Uber losses top $1BN ahead of planned IPO next year

Uber posted a loss of $1.07bn (£821m) in the three months to September, as the ride-sharing firm prepares for a public stock offering next year. The US company’s net losses widened sharply on a quarterly basis as revenues rose only slightly. Uber was recently valued at $72bn, making it one of the most valuable privately […]

More than 200 UK shopping centres are ‘in crisis’

More than 200 UK shopping centres are in danger of falling into administration, experts are warning. Analyst Nelson Blackley said the demise of “major anchor stores” such as BHS and Toys R Us, and the rise of online retail, had caused a “downward spiral”. Many of the at-risk centres are owned by US private equity […]

Debenhams makes record annual loss and plans up to 50 store closures

Debenhams has confirmed record annual losses and said it will close up to 50 under-performing stores. In the year to September it lost £491.5m, against profits of £59m the year before. The troubled department store chain, which has 166 branches, had previously said it planned to close 10 stores. Boss Sergio Bucher said the company […]

Gourmet Burger Kitchen plans to close 17 stores in order to stay afloat

Gourmet Burger Kitchen (GBK) says it has earmarked 17 restaurants for closure after running up millions of pounds of losses. The chain, owned by South Africa’s Famous Brands, has filed for a Company Voluntary Arrangement – an insolvency process that allows struggling firms to close unprofitable stores. It warned 250 jobs were at risk under […]

Barclays profits up despite Brexit uncertainty

Profits at Barclays surged in the third quarter as the lender’s investment banking and retail divisions picked up speed. The lender posted £1.5bn in profit before tax for the three months to 30 September, up from £1.1bn a year ago. Boss Jes Staley said the bank was doing well, despite Brexit uncertainty “weighing heavily on […]

New Premier Inn Zip chain shrinks rooms in half

Would you stay in a pod less than half the size of a normal Premier Inn room? For prices as low as £19, the Whitbread chain is betting the answer is yes. The first Zip by Premier Inn hotel opens in the Roath area of Cardiff early next year and will have 138 rooms sized […]

online review

Consumer Watchdog says online sellers are ‘paying for positive reviews’

Some online sellers are offering people free goods in return for positive product reviews, an investigation by consumer group Which? has found. Its investigator joined several “rewards for reviews” groups and was hired to write high-rated reviews in return for free items. Paid-for, or fake, reviews flout rules set by platforms such as Amazon and […]

Bank closures: 13 million people have lost half of local businesses

About 13 million adults in the UK live in areas where at least half of the local banks and building societies have closed, analysis by the BBC reveals. Figures from the Office for National Statistics (ONS) show nearly 6,000 local branches have shut since 2010, a fall of a third. The consumer group Which? called the number […]