cash news and archive

Chinese owner of HoF, said to inject fresh funding into company

Amid growing fears concerning the future of struggling department store group House of Fraser, comes news that its Chinese owner is preparing to inject fresh capital into HoF. Sanpower, which holds an 89 percent stake in House of Fraser through its Shanghai subsidiary Nanjing Cenbest, is set to inject 15 million pounds into HoF, as part of its...

Retail

'Death of cash' in the UK greatly exaggerated as consumers change paying habits

Despite a decline in cash transactions across the UK, the foreseen 'death of cash' has been largely exaggerated according to this year's annual Payments Survey from the British Retail Consortium (BRC) published today. The survey found that cash remains the preferred payment method in the majority of transactions, accounting for over 52 percent...