Who is Asda’s chair and why does he want Mohsin Issa to step away? August 12, 2024 Depending on your age and your attention span towards the in and outs of the UK retail scene, you may or may not have heard of Lord Stuart Rose. Knighted in 2008 for his services to the retail industry, he has spent twenty years running some of the biggest names in UK retail: Argos, Marks [...]
Bitcoin cashback announcement ends in controversy for UK fintech Mode November 18, 2021 Major retailers Boots and Ocado have distanced themselves from an announcement claiming they would offer customers cash back in Bitcoin. Today London-listed fintech Mode announced it would be adding more than 40 UK retailers including Boots, Ocado and Homebase to its crypto cashback rewards scheme. However, in comments to City A.M. both Boots and Ocado [...]
Grocers see more than £1bn wiped off value after Tesco profit warning April 14, 2022 Supermarkets had a total of more than £1bn chipped off their market value on Wednesday, after a warning over inflationary pressures from Tesco. Grocers including Ocado and Sainsbury’s suffered poor performances on Wednesday, after Tesco warned that profit could be hammered by rising costs and shifts in shoppers’ behaviour. Ocado took a hit on the [...]
FTSE 100 close: London markets rise ahead of Fed and ECB decisions this week June 12, 2023 London markets closed higher on Monday ahead of a big week for central banks, with the Fed, European Central Bank (ECB) and Bank of Japan all set for their latest interest rate decision. The capital’s premier index climbed 0.1 per cent to 7,570.69 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned [...]
Caffe Nero shrugs off inflation as Brits’ coffee habits drive sales of £150m January 30, 2023 Caffe Nero generated UK sales of £150m for the first half of the financial year, averaging 104 per cent of pre-pandemic levels and an increase of 17 per cent for the same period in 2021. The coffee chain added Deliveroo and Just Eat to its delivery partner service last year, which it said helped secure [...]
FTSE 100 close: Debt ceiling breakthrough fails to lift London index as recession fears reignite May 30, 2023 London’s FTSE 100 dropped sharply today as recession fears outweighed US lawmakers closing in a deal to end the debt ceiling deadlock. The capital’s premier index slid 1.38 per cent to 7,522.08 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, was broadly flat, closing [...]
‘You can’t interfere in the markets,’ Asda boss tells government over food price caps May 30, 2023 Veteran retail boss Stuart Rose has warned the government of “unintended consequences” around encouraging supermarkets to impose price caps on food staples to cut the cost of living. Asda chairman Lord Rose, who also ran Marks and Spencer and chaired Ocado, said “you can’t interfere in the markets” and warned of the “unintended consequences” of [...]
FTSE 100 close: Shock US debt downgrade sparks market sell-off in London and Europe August 2, 2023 London’s FTSE 100 plummeted during opening exchanges today after a top credit ratings agency slashed their outlook on the US’s finances. The capital’s premier index slumped 1.36 per cent to 7,561.64 points, while the domestically-focused mid-cap FTSE 250 index, which is a better reflection of the health of the UK economy, fell 1.33 per cent [...]
FTSE 100 close: NatWest lifts after government stake sale as Burberry and JD Sports bump London index May 22, 2023 London’s FTSE 100 started what will be a quiet week in decent style today, driven higher by investors piling into Britain’s largest retailers. The capital’s premier index jumped 0.21 per cent to 7,773.49 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, edged lower to [...]
UK’s review of remote working holidays sparks tax crackdown fears September 1, 2022 The UK’s Office for Tax Simplification (OTS) has opened a review into those who work abroad remotely, in a sign the government may soon begin to crack down on remote working holidays. The OTS has begun collecting data on people who work for UK companies from abroad, following a major uptick in the numbers of [...]