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Shares jumped more than 9 per cent to 241p today after funding secured March - May sales across the group were up 106 per cent to £120.1million  Shares in online fashion upstart Boohoo jumped more than 9 per cent today as investors saw an opportunity for rapid growth in the firm's £50million share placement to fund a new mega-warehouse.  Boohoo, which recently bought US retailer Nasty Gal and Pretty Little Thing, said it needs more warehouse capacity and is seeking £50million from investors to put towards the £150million required to build the new facility.  A company's share price usually falls when there's a placement as it increases the total number of shares, plus it can be an indication that a company is struggling financially. However, if the request for funds is to rapidly grow the business, this can push the share price higher.   Expansion: Boohoo is seeking to raise £50m from investors to fund the development of a blockbuster warehouse The group said the new facility, scheduled to be completed by 2020, could generate £2billion worth of sales – in addition to the £1billion net sales provided at its Burnley base, which is also to be extended.  As a result, it issued an equity placing to raise £50million and said it expects capital expenditure to be £63million this year compared to previous guidance of £34million.  Shares in Boohoo rose 9 per cent, or 20p, to 241p in morning trading. It's a Pretty Big Thing... Online fashion firm Boohoo on target to hit turnover of £1bn by 2020 It came as the fashion firm, which has been growing heavily in the UK and abroad, boasted soaring sales and profits.  Sales across the group as a whole were up 106 per cent to £120.1million in the three months to May 31, compared to £58.2million in the same period the year before. Boohoo sales increased 48 per cent to £86.4million while sales in Pretty Little Thing increased by 305 per cent to £30.7million. Nasty Gal, which Boohoo acquired for £16million earlier this year, made £2.9million. It now expects revenue growth for the full year to be around 60 per cent, ahead of previous guidance of 50 per cent.  Joint chief executives Mahmud Kamani and Carol Kane said: 'Our performance in the first quarter has been very encouraging across all brands and geographic regions. 'While it is early in the financial year, Boohoo continues to perform well and Pretty Little Thing delivered exceptionally strong revenue growth in the first quarter as it continues to expand its young female customer base. 'Nasty Gal has made a promising start since we acquired the brand, with revenues growing strongly month-on-month, as we increased the product range.'  Last year, pre-tax profits rose 97 per cent to £30.9million, while revenue also soared 51 per cent to £294.6million. 

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Embassy Tel Aviv/Handout via REUTERS JERUSALEM Israeli Prime Minister Benjamin Netanyahu called on Sunday for the dismantling of the U.N. agency that aids millions of Palestinian refugees, accusing it of anti-Israeli incitement and saying he had conveyed his message to the U.S. ambassador to the United Nations. Adnan Abu Hasna, a Gaza-based spokesman for the United Nations Relief and Works Agency (UNRWA), said Netanyahu was pursuing a "fantasy". The United States, Israel's main ally, was the biggest donor to UNRWA last year, pledging $368 million. In public remarks to his cabinet at its weekly meeting, Netanyahu said UNRWA perpetuated, rather than solved, the Palestinian refugee problem and that anti-Israeli incitement was rife in its institutions, which includes schools. "It is time UNRWA be dismantled and merged with the United Nations High Commissioner for Refugees," Netanyahu said. Referring to a meeting he held in Jerusalem on Wednesday with Nikki Haley, the U.S. ambassador to the U.N., Netanyahu said: "I told her it was time the United Nations re-examine UNRWA's existence." UNRWA was established by the U.N. General Assembly in 1949 after hundreds of thousands of Palestinians fled or were expelled from their homes in the 1948 war that followed Israel's creation. It says it currently aids five million registered Palestinian refugees in the Middle East.

support against Islamists in Marawi Philippines' President Rodrigo Duterte answer questions during a press briefing after awarding wounded soldiers, who fight against the insurgents of the Maute group, which has taken over large parts of the Marawi city, during his visit at the military camp hospital in Cagayan De Oro, Philippines June 11, 2017. REUTERS/Romeo Ranoco A U.S. P3 Orion surveillance aircraft is seen flying over the town of Marawi city, as government troops continue their assault against insurgents from the Maute group, who has taken over large parts of the city, Philippines June 9, 2017. Picture taken June 9, 2017. REUTERS/Romeo Ranoco Philippines' President Rodrigo Duterte (C) with Defence Secretary Delfin Lorenzana (L) and General Eduardo Ano, talks after visiting wounded soldiers who fight against the insurgents of the Maute group, which has taken over large parts of the Marawi city, at a military camp in Cagayan De Oro, Philippines June 11, 2017. REUTERS/Romeo Ranoco Philippines' President Rodrigo Duterte answer questions during a press briefing after awarding wounded soldiers, who fight against the insurgents of the Maute group, which has taken over large parts of the Marawi city, during his visit at the military camp hospital in Cagayan De Oro, Philippines June 11, 2017. REUTERS/Romeo Ranoco CAGAYAN DE ORO CITY, Philippines Philippine President Rodrigo Duterte said on Sunday he was not aware the U.S. government was providing assistance to government troops in its battle against Islamist militants in a southern city. Duterte also said he "never approached America" for help. "I am not aware of that until they arrived," Duterte told a media briefing when asked about U.S. support to fight the pro-Islamic State militants in Marawi City.

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