Mooove over Sainsbury’s: Waitrose claims its dairy farmers get the cream of milk prices January 26, 2015 Premium supermarket Waitrose has lifted the lid on its dairy practices following Sainsbury's attack ad last week, insisting it pays “a fair price” for its milk. The John Lewis Partnership-owned grocer was among those to appear on the naughty list of businesses that were accused of not supporting British fresh milk farmers. The [...]
Is Barclays chairman John McFarlane right to say that bonuses encourage people to cut corners? October 25, 2015 Alex Edmans, professor of finance at London Business School, says Yes. High pay is indeed justified if an executive has generated long-term value. However, bonuses are typically paid according to short-term performance. They can encourage executives to “cut corners” by ignoring the long-run consequences of their actions, and focus narrowly on their impact on short-term [...]
Tesco first half results: Analysts question whether “Drastic Dave” Lewis has been drastic enough October 7, 2015 Tesco may have beaten expectations for UK sales in the first half of this year, but analysts are warning that the troubled supermarket still has a long way to go if it is to shrug off the many problems facing the UK's biggest retailer. Tesco's profits fell 55 per cent in the six months to 31 [...]
Waitrose pulls Christmas cracker as online shoppers boost sales January 6, 2015 THINGS may be bleak for the big four supermarkets, but for the smaller, challenger businesses initial signs are that Christmas was a real cracker. Waitrose has topped off a strong year, in which it had grown market share to five per cent by December, according to figures published yesterday. The upmarket grocer, which is part [...]
Why the advent of an “expert committee” doesn’t make Corbynomics any less scary September 28, 2015 Jeremy Corbyn and his shadow chancellor John McDonnell are desperate to be seen as economically credible. As part of this, on Sunday Labour announced the creation of a new economics committee made up of the economic darlings of the left: Thomas Piketty, Danny Blanchflower, Ann Pettifor, Joseph Stiglitz, Mariana Mazzucato and Simon Wren-Lewis. Make [...]
Behold: the City finally has a mixologists’ bar September 22, 2015 I hate to be the one to break it to you, but the Square Mile isn’t a great place for cocktails. Sure, you can now get them in most bars (and even some pubs), but most aren’t worth the lemon they’re garnished with. I think it’s a supply and demand thing. Perhaps understandably, the City [...]
Thomas Piketty and Joseph Stiglitz signed up to Labour’s economic advisory panel by John McDonnell September 27, 2015 The so-called rock star economist Thomas Piketty and Nobel prize-winner Joseph Stiglitz are among the top economists recruited to a new Labour group designed to put some weight behind the party's economic policies. Labour shadow chancellor John McDonnell has named a six-strong group of economists, known for their anti-austerity leaning, to a new panel which [...]
Quindell share price leaps 27 per cent as it names Richard Rose as chairman and makes three more executive hires January 12, 2015 Shares in troubled insurance claims outsourcer Quindell jumped 27 per cent in late morning trading after it confirmed it has hired four new executives. Richard Rose, the chairman of online electrical goods retailer AO.com and cash-and-carry operator Booker Group, has been named as its new chairman, replacing Rob Terry who stepped down in November. Meanwhile [...]
Dixons Carphone ups profit forecast after Black Friday and Christmas trading success January 21, 2015 Dixons Carphone has raised its profit forecast after a “roller coaster” Christmas proved a success for the retailer. Full-year pre-tax profits are expected to come in at between £355m and £375m, ahead of expectations, after a seven per cent rise in like-for-like sales over the festive period, including eight per cent growth in the UK. [...]
London Air Ambulance called in after man suffers severe injuries from Peter Jones escalator fall December 30, 2014 The London Air Ambulance was called into central London today after a man in his 20s suffered severe injuries after falling from an escalator in the Peter Jones department store. The incident that occurred at the Sloane Square store, owned by John Lewis Partnership at around 1pm on December 30, with police saying they will [...]