lyft-losses-grow-ahead-of-25bn-flotation

Lyft losses grow ahead of $25bn flotation

Image copyright Getty Images Lyft, the ride-hailing company, has revealed that it is yet to make a profit ahead of an initial public offering (IPO) which could value the firm at between $20bn and $25bn.The company is racing its larger ride-sharing rival Uber to list its stock.In its prospectus, Lyft published detailed financials for the…
lk-bennett-on-brink-of-collapse

LK Bennett on brink of collapse

Image copyright Getty Images Image caption The Duchess of Cambridge is an LK Bennett fan High-end fashion chain LK Bennett has lined up an administrator for the business as it desperately seeks funding to stay afloat.EY will oversee the insolvency if no new investment can be found, according to Sky which first reported the story.The…
payment-scam-victims-more-likely-to-be-reimbursed

Payment scam victims more likely to be reimbursed

Image copyright Getty Images Consumers who have been tricked into authorising bank payments to fraudsters are more likely to be reimbursed by their bank in future thanks to new rules agreed by the industry.Customers have lost millions of pounds through this type of scam, known as "push" or "authorised" payment fraud.Previously, because the payments were…
gap-to-shut-shops-and-hive-off-old-navy

Gap to shut shops and hive off Old Navy

Image copyright Getty Images Fashion firm Gap Inc has announced it is shutting 230 stores and splitting off its Old Navy brand, a restructuring aimed at "revitalising" the company.It emerged as new figures revealed that like-for-like sales at Gap continued to fall while Old Navy's revenue rose.Old Navy will be a standalone company while a…
eurotunnel-challenges-039secretive039-brexit-ferry-deals

Eurotunnel challenges 'secretive' Brexit ferry deals

Image copyright EPA Image caption Seaborne Freight has had its contract for the Ramsgate-to-Ostend route revoked The government is facing a court challenge over the contracts it awarded to three shipping firms as part of its no-deal Brexit preparations.Eurotunnel, which operates railway services between the UK and France, says the contracts were handed out in…
merger-could-close-fox039s-mints-factory-in-leicester

Merger could close Fox's mints factory in Leicester

Image caption The Fox's Glacier factory has been making mints in Leicester since 1918 The factory that makes Fox's Glacier mints could close under merger plans.It is proposed Fox's Glacier owner Big Bear Confectionery would merge with Tangerine Confectionery.The move would close the Big Bear site in Leicester, where over 200 people are employed, and…