Ministers postpone rail fare increase following HS2 cuts backlash December 2, 2021 A UK Government announcement regarding a 3.8 per cent increase in rail fares from March was postponed last week following the backlash caused by the slashing of rail investments in the north. Rail fares in England and Wales will see the biggest increase in nine years, the Guardian reported exclusively after seeing leaked documents. A [...]
Electra Private Equity to rename as Unbound in hospitality demerger August 17, 2021 Electra Private Equity has reiterated its plans for a spin off of its hospitality brands and will rename the company Unbound Group. Restaurant brands TGI Friday and 63rd+1st will be split away under a new company named Hostmore, with shares given to Electra shareholders. The private-equity investment trust will be left with one remaining business, [...]
Editorial: Online retail has a duty to be human – for their workers and the industry July 28, 2021 Old-school retail has been plagued by many criticisms through its long performance on our high streets. It has been far from the patron saint of good behaviour. But if you walked into a store in the early 2000s, you could, fairly or unfairly, get a feel for a company from the staff you bumped into. [...]
Ofgem risks losing public trust after British Gas’ profit bonanza July 31, 2023 Four years of heavy losses and instability in the energy industry were upended last week when British Gas posted record profits.
Government denies there is shortage of fuel amid BP and Esso closing gas stations September 24, 2021 The government is urging Brits “buy fuel as normal”, after the ongoing lorry driver shortage issue reached gas stations yesterday. BP said a number of its filling stations are closed due to a lack of fuel available, while Esso owner ExxonMobil also said a “small number” of its Tesco Alliance petrol forecourts have been impacted. [...]
UK recession to hit sooner than first thought as economy unexpectedly shrinks May 12, 2022 The UK is “dangerously close” to tipping into a recession sooner than predicted due to households already cutting spending ahead of the cost of living squeeze tightening. That’s according to City economists’ assessment of weaker than expected GDP figures published today by the Office for National Statistics (ONS). The economy shrank 0.1 per cent in [...]
It’s not just growth, it’s M&S growth: Supermarket reports ‘encouraging’ festive results January 13, 2022 Luxury supermarket M&S sustained a strong performance through the Christmas period, making it the fastest growing major store-based food retailer in the festive run up.
Watches of Switzerland eyes first £1bn year after pandemic fails to dampen desire for posh watches May 20, 2021 Appetite for posh watches and luxury jewellery has not waned during the pandemic, as Watches of Switzerland reported a group revenue increase of 18 per cent in its 2021 financial year. Luxury watches at the company – the UK’s biggest Rolex retailer – were responsible for £788.4m in revenue, while luxury jewellery pulled in £60.8m. [...]
Boris Johnson mulls calling in army to deliver fuel as pumps run dry after weekend of panic buying September 27, 2021 Prime Minister Boris Johnson is said to be weighing the option to let soldiers drive fuel trucks as pumps ran dry after a weekend of panic buying. Emergency measures were triggered late last night, with Business Secretary Kwasi Kwarteng choosing to suspend competition laws for the fuel industry to allow suppliers to target filling stations [...]
Get ready for optimistic yellows – Gen Z has killed millennial pink May 15, 2022 Picture the scene: a pink wall, an emerald green armchair and the flailing arms of a palm tree. This is so many contemporary offices in London right now: ‘millennial pink’ and emerald green have, over the past decade, become iconised as the go-to colours of the millennial worker era. Until now. There is change in [...]