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You’d think the exorbitant cost of living in the capital would make Londoners eager to hunt for a bargain. But when it comes to investing, they have little regard for budget brands.
Stocks least likely to feature in their portfolios include budget retailer B&M, cake shop Greggs and pubs Wetherspoons, says investment platform eToro.
They own a higher proportion of shares in luxury fashion groups, including LVMH, Kering and Farfetch, than investors in the rest of the UK.
Off the menu: Stocks least likely to feature in Londoners’ portfolios include budget retailer B&M, Greggs and pubs Wetherspoons.
They also have a predilection for the sports clothing company Lululemon, which is listed in the United States.
But the biggest snub to B&M comes from outside the capital. It is less popular in the luxurious left-wing beachfront paradise of Brighton and Hove than anywhere else in the UK.
The most popular stock in that area? Deliveryoo.
Maybe they are trying to avoid the pesky seagulls that swoop down on their fish and chips.
Shein raises prices before going public
Speaking of budget brands, Shein is known for selling tops for as little as £3.
But it is reportedly raising prices ahead of a £50bn IPO on the London Stock Exchange.
And Whispers can confirm that staff are already developing expensive tastes.
Where did they meet last week while courting a revolving door of city journalists?
The Chiltern Firehouse Hotel, a regular haunt of the rich and famous, where for £3 you can get half a cup of coffee or a third of a cold-pressed juice.
Pets at home are not among the big fish
While big-shot bonuses face criticism from investors, Pets at Home at least won’t show up on the scrutinizing table.
CEO Lyssa McGowan qualified to receive a small portion of her bonus this year for meeting sustainability goals.
But the company’s pay committee said that because the retailer and vet chain didn’t meet their financial targets (90 percent of the bonus criteria) they would use “top-down discretion” to give him nothing.
Profits were hit due to the cost of setting up a sleek new warehouse in Staffordshire as customers spent less on accessories.
The big question is: will he be out of the doghouse at his next bonus review?
Frustration at Hochschild
Hochschild Mining investors appear to be on edge over their president’s lack of succession planning.
Eduardo Hochschild, 60, has held the position since 2006. The board says he plans to retire within the next 10 years. City rules recommend that a president serve for a maximum of nine years.
At Thursday’s annual meeting, one-fifth of participating shareholders voted against his re-election.
Hochschild has been with the company since 1987 and remains its largest shareholder with a 38 percent stake.
The group says it will stick with its man because his continued role “remains in the best interests” of the miner. Therefore, there!
Contributor: John Abiona
