Blue Inc in Great Yarmouth's Market Gates shopping centre has closed its doors. Archant Menswear retailer Blue Inc has become the latest high-street name to run into troubles, after reportedly calling in advisers to help with the sale of the business. Great Yarmouth's branch of Blue Inc, in the Market Gates Shopping Centre, has closed its doors. A sign showing the closure, and that the nearest branch is now in Ipswich.The chain has stores in Norfolk and Suffolk, including Norwich’s Castle Mall, the Market Gates shopping centre in Great Yarmouth, Broad Street in King’s Lynn and the Sailmakers shopping centre in Ipswich.The Great Yarmouth outlet on Thursday was closed, with signs in the window advising customers to visit the Ipswich branch instead.It has already been through a restructuring in which underperforming stores were closed but has now asked business advisers Begbies Traynor to find a buyer, Sky News has reported.Industry insiders have said the chain may need to … [Read more...] about Clothes shop in Great Yarmouth’s Market Gates centre closes as chain’s future hangs in the balance
Markets
Market: City rushes to gold and banks are sold off after resignations
GOLD miners shot to the top of the FTSE 100 leaderboard today as investor uncertainty over Brexit reached fever pitch. Randgold Resources and Fresnillo started making rapid gains just minutes after the Brexit secretary Dominic Raab handed in his resignation followed by a cluster of further resignations. Their shares climbed 284p to 6294p and 19.6p to 837.4p respectively. Brokers said investors were searching for safe haven assets and had taken all risk off the table. Connor Campbell at Spreadex said: “With the trading floor dominated by Brexit chatter, Randgold Resources and Fresnillo were immediate beneficiaries of Dominic Raab’s post-draft deal resignation. “Investors are anticipating a bungling journey towards the EU exit door.” Miners were also making gains after Antofagasta said it was granted approval to expand its Los Pelambres mine in Chile. Construction of the $1.3 billion (£1 billion) expansion will start at the … [Read more...] about Market: City rushes to gold and banks are sold off after resignations
BoE rate hike in 2019 now unlikely, money markets suggest
LONDON (Reuters) - Money markets no longer expect the Bank of England to hike interest rates in 2019, as investors slashed their bets on monetary tightening after Dominic Raab resigned on Thursday as Britain's Brexit minister. Investors now price in a 25 basis point rate hike from the BoE in 2020, having priced out such a move for next year <BOEWATCH>. Money markets had previously priced in one hike - from current levels of 0.75 percent - before December 2019. Raab resigned on Thursday in protest at Prime Minister Theresa May's Brexit deal, throwing her government into political turmoil. The re-pricing in money markets came as sterling fell sharply and British government bond yields tumbled. (Reporting by Tommy Reggiori Wilkes; Editing by Dhara Ranasinghe) … [Read more...] about BoE rate hike in 2019 now unlikely, money markets suggest
Draft Brexit deal ends Britain’s easy access to EU financial markets
The United Kingdom and the European Union have agreed a deal that will give London's vast financial centre only a basic level of access to the bloc's markets after Brexit. The agreement will be based on the EU's existing system of financial market access known as equivalence - a watered-down relationship that officials in Brussels have said all along is the best arrangement that Britain can expect. The EU grants equivalence to many countries and has so far not agreed to Britain's demands for major concessions such as offering broader access and safeguards on withdrawing access, neither of which is mentioned in the draft deal."It is appalling," said Graham Bishop, a former banker and consultant who has advised EU institutions on financial services. The draft text "is particularly vague but emphasises the EU's ability to take decisions in its own interests.... This is code for the UK being a pure rule taker." Britain's decision to leave the EU has undermined London's position as the … [Read more...] about Draft Brexit deal ends Britain’s easy access to EU financial markets
In an Uncertain Real Estate Market, Try Before You Buy
Sections SEARCH Skip to content Skip to site index Business Subscribe Log In Log In Today’s Paper Business | In an Uncertain Real Estate Market, Try Before You Buy Supported by ByPaul Sullivan Nov. 15, 2018 Not too long after Tom Porth sold his business this year, he went to Colorado for a ski vacation. He had worked in different capacities for the Village Inn restaurant chain for four decades, ultimately owning nine restaurants, and he was eager for retirement. After a trip to Steamboat Springs, Colo., Mr. Porth returned to his home in Waterloo, Iowa, intent on buying a mountainside condominium. So he did what anyone would do: He found a realtor in Steamboat who arranged for him to rent a condo in the place he thought he’d like. “The price was more than what my Iowa blood was used to seeing, but it seemed to be what you’d pay for something of that caliber,” said Mr. Porth, 62. But … [Read more...] about In an Uncertain Real Estate Market, Try Before You Buy