Billionaire Mike Ashley’s retail empire Frasers Group Plc raised its stake in online fashion chain Boohoo again since first investing in June, arguably taking advantage of the company’s depressed valuation. The move comes after Frasers last week disclosed a higher stake in Boohoo rival Asos, stoking takeover speculation.
A logo outside a Boohoo Group Plc bricks and mortar clothing store in London, U.K., on Monday, Jan. 25, 2021. Online fashion retailers Boohoo Group Plc and Asos Plc are seeking to rescue ailing U.K. retail mainstay brands like Debenhams and Topshop. , Bloomberg
Grafton Group Plc: The construction firm said first-half profit before tax plunged 30% and warned the remainder of the year will remain challenging against the backdrop of high inflation and cost-of-living pressures. Persimmon Plc: The homebuilder’s pending exit from the FTSE 100 Index after a decade-long stay is the latest sign of how the highest UK interest rates since the global financial crisis are crushing the country’s property-related stocks.
Meanwhile, Britain’s biggest business group said a year-long slump across the private sector is likely to continue for at least three more months, as high inflation and interest rates hold back growth.Six months after taking over at Shell Plc, Chief Executive Officer Wael Sawan quietly ended the world’s biggest corporate plan to develop carbon offsets, the environmental projects designed to counteract the warming effects of CO2 emissions.
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