Being Paid in Crypto. Will it get you two six-month holidays per year? August 6, 2021 Millions of Americans live in bad economic conditions and don’t have even $1,000 of savings to cover emergency expenses. In 2019, about 61% of the US population couldn’t cover a $1,000 emergency bill and even stimulus payments haven’t improved the situation. As global economic conditions harden because of the COVID-19 pandemic, Bankrate estimates only 39% [...]
The City View: Tom Tugendhat MP on China, Russia and foreign affairs July 30, 2020 Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Today Andy is joined by Tom Tugendhat MP, the chair of the Foreign Affairs Commons Select Committee. Tom responds to the latest warnings from the Chinese ambassador, warns Beijing it should not attempt to “bully” Britain, and Hong Kong’s economic future. He also offers us his take on the [...]
Sainsbury’s CEO Mike Coupe to retire after six years January 22, 2020 Mike Coupe is set to retire as chief executive of Sainsbury’s after six years at the helm, the company revealed today. The CEO will leave the role in May before retail and operations director Simon Roberts takes charge in June. Mike Coupe said leaving had been a “very difficult decision for me personally”. Read more: [...]
Sainsbury’s Christmas sales slip despite online boost January 8, 2020 Sainsbury’s suffered the biggest drop in Christmas sales of general merchandise since it bought Argos in 2016, as consumer demand for toys and games weakened. General merchandise sales, which includes Argos, dropped 3.9 per cent in the 15 weeks to 4 January, driving a 0.7 per cent decline in total retail sales excluding fuel. However, [...]
Sainsbury’s to cut hundreds of management jobs January 21, 2020 Supermarket giant Sainsbury’s said today it would cut hundreds of management roles. It said the move was part of its plan to further integrate Sainsbury’s with catalogue retailer Argos which it bought in 2016 in a £1.4bn deal. Sainsbury’s said it had reduced its senior leadership team by 20 per cent since the start of [...]
Crypto Market Cap breaks $500 Billion As Bitcoin’s Price Blasts Through $18,000 November 24, 2020 This week CryptoCompare data shows the price of Bitcoin (BTC) moved from around $16,000 to a new high for the year of $18,800. Over the week the price fluctuates close to $19,000 and BTC is at press time trading at around $18,700. Ether (ETH), the second-largest cryptocurrency by market capitalization, moved steadily up throughout the [...]
Debenhams strengthens board as department store implements rescue plan December 10, 2019 Beleaguered department store Debenhams has appointed the former boss of Argos as a non-executive director in order to strengthen its board as it implements a turnaround plan. John Walden, who was chief executive of Home Retail Group until it sold Argos to Sainsbury’s in 2016 and is currently chairman of Naked Wines, has been appointed [...]
Retail park sold in £50m deal for online warehousing space January 6, 2020 A retail park owned by M&G’s shuttered property fund has been bought for more than £50m to be converted into warehouses. The deal indicates the growing dominance of online retail which requires large amounts of warehouse space to service customers. The 128,000 sq ft Ravenside retail park in Edmonton north London was reportedly acquired by [...]
Sainsbury’s delays dividend as coronavirus costs expected to reach £500m April 30, 2020 Sainsbury’s has delayed a decision on its dividend and warned that it will take a £500m hit due to costs associated with coronavirus, but that soaring grocery sales and business rates relief will largely offset the impact. The supermarket said this morning that it faces costs associated with protecting customers and staff, weaker fuel, general [...]
Snakes and Ladders: Who is moving jobs in the City this week? November 25, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. This week, [...]