Pound slumps as US inflation remains stuck at 3.7 per cent in September October 12, 2023 Sterling slumped after US inflation came in slightly ahead of expectations.
Marks & Spencer profit dented as Ocado joint venture books £0.7m loss November 9, 2022 Marks & Spencer’s half-year profit slid on Wednesday after it said its joint venture with online grocer Ocado had suffered a £700,000 loss. In half-year results to 1 October, M&S said its group profit before tax was £205.5m, versus a £269.4m sum the previous year. Bosses pointed to a lack of business rates relief compared [...]
Eurozone grows marginally in first quarter as outlook for 2023 remains weak April 28, 2023 The eurozone grew only marginally in the first three months of 2023 and at a rate lower than market expectations after stagnation at the end of last year, preliminary data showed on Friday. Gross domestic product in the eurozone expanded by 0.1 per cent in the first quarter, below expectations in a Reuters poll for [...]
Poundland sales continue to surge as bargain hunters seek out best deals July 13, 2023 Poundland has once again been bolstered by a surge in shoppers seeking out value goods, with its parent company Pepco reporting a 12.5 per cent surge in revenues in the third quarter. Pepco Group said it reached revenues of €1.37bn (£1.17bn) as the group opened 141 new store openings during the third quarter across its [...]
Co-Op announces new chair as ‘ideal person’ to take UK’s fifth biggest grocer forward July 13, 2023 The Co-op announced has announced a new chair, with Debbie White set to succeed Allan Leighton when he steps down in February 2024. White has held a number of important executive roles, having served as chief executive of Interserve and a senior director at Spire Healthcare. White will replace Leighton, who is approaching the end [...]
Supermarket wars: Lidl and Aldi play catch up with Tesco in slashing price of milk April 14, 2023 Aldi and Lidl have followed rival supermarkets Sainsbury’s and Tesco in slashing the price of milk. The budget retailers announced on Friday that they are cutting the price of their four-pint own brand bottles by 10p from £1.65 to £1.55. The change follows a similar announcement by supermarket Sainsbury’s on Thursday, with Tesco being the [...]
Misery for London retailers as they face £575m business rates bill November 27, 2023 Retail properties in London could be faced with an extra £575.55m in business rates next year as they are not eligible for support measures.
Hydrogen electric aircraft start up nets £32m from UK Infrastructure Bank November 27, 2023 Hydrogen-electric aircraft developer Zeroavia has secured the banking of the UK infrastructure bank in its latest fundraising round.
US Senate approves debt ceiling bill narrowly avoiding traumatic default June 2, 2023 The US Senate approved a deal to lift the debt ceiling yesterday, avoiding a traumatic federal default by a matter of days. 63 senators backed the proposals on Thursday night after the deal secured bipartisan support in the House of Representatives on Wednesday. Senate Majority Leader Chuck Schumer said ahead of voting that the Bill’s [...]
Explainer-in-brief: Tampax joins the losers of social media PR November 23, 2022 Tampax is facing a boycott after a Twitter post that was branded as blatant misogyny and accused of sexualising periods. The company is not the first one that has tried to be funny or to leverage social media and completely failed. American fashion brand Kenneth Cole attributed the “uproar in #Cairo” during the Egypt revolution [...]