The Finance Roundup

Tesco continues profits turnaround

New Tesco boss, Dave Lewis, has overseen the revival of the popular supermarket chain’s profits over the past two years. Previously having suffered blows from an accounting scandal, the retailer managed to make pre-tax profits of £1.3bn last year. Shares have risen by around six percent, meaning the company is now worth £21.7bn.

ASOS shares down

Despite seeing higher profits for the last half of the year, at £1.13bn, share prices for the online fashion retailer have fallen by over seven percent, to £68.88 per share. Hargreaves Lansdown puts the fall in share price down to underinvestment by ASOS in their own capital.

Highstreets decline worst since 2010

Around 1,700 retail outlets closed on UK highstreets last year, which is the worst rate of closures since 2010, when the economy was still feeling the effects of the financial crisis. That’s a rate of closure of around 16 every day. A lot of the decline has been pinned to the rise of internet shopping.

Berlin home to fastest growing property prices

The average price for a property in the German capital rose by 20.5 percent last year, suggesting signs of a property bubble in the city. This is almost ten times the rise in prices in London, which were around two percent on average.



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Matthew Denton

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October 2021
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