Keir Starmer urges compromise on rail strikes after latest pay deal rejected December 5, 2022 Both the unions and the train operators need to compromise to bring the ongoing railway strikes to an end, according to Labour leader Sir Keir Starmer. “Both sides need to compromise, both sides need to finish the negotiations and the government needs to drive them forward,” Starmer told ITV’s Good Morning Britain. “The government’s been [...]
Competition watchdog brands Amazon as ‘grocery retailer’ enforcing UK supplier protection February 9, 2022 UK competition watchdog has branded Amazon as a “grocery retailer” after the ecommerce giant announced it would be increasing its activity in the sector, with plans to launch 15 new Amazon Fresh stores in London. The Competition and Markets Authority’s (CMA) decision is aimed at protecting suppliers and ensuring fairer payment terms, forcing Amazon, as [...]
Levi’s chief: Globalisation is dead and supply chains should look closer to home April 7, 2022 Levi’s boss has said companies should look to produce goods closer to their target market. Chip Bergh, the president and CEO of Levi Strauss, has said a trend of chasing the “lowest-cost manufacturing base around the world” is coming to an end. “The name of the game today is supply chain resilience and agility,” Bergh [...]
Ten Entertainment scores yet another strike as it heads for expansion and keeps price freeze plans September 21, 2022 Bowling firm Ten Entertainment confirmed plans to open three new alleys in the next six months as it heads for a post-pandemic victory. The firm posted sales of £63.2m in the first half of 2022, up 53 per cent on pre-pandemic levels, while pre-tax profits rocketed 121 per cent to £15.7m. The Bedford-based company notably [...]
SCS shares jump as furniture sales soar after lockdown July 30, 2020 Shares in furniture retailer SCS jumped this morning as it reported a surge in demand following the coronavirus lockdown. Order intake before lockdown was down 4.2 per cent on the previous year, plunging 92.5 per cent below 2019 levels during lockdown. Demand bounced back as restrictions were eased, with order intake between 24 May and [...]
The Notebook: A look at some of London’s top festive finds December 18, 2023 Where the City’s movers and shakers get a few things off their chest. Today, Michelle McGrath, executive director of Shaftesbury Capital, takes the pen. It’s no accident London is a festive city Christmas is famously the time of good cheer, but it is also the single most important time for retailers and the hospitality industry. [...]
Ocado shares plummet 10 per cent as investors show anxiety towards ‘resilient’ growth February 8, 2022 Ocado’s shares are taking a beating this afternoon, with investors appearing unimpressed by group revenue and international expansion. Despite the online retailer reporting that group revenue was up 7.2 per cent to £2.5bn for the full year, shares plummeted as much as ten per cent this morning. It comes after Ocado, which is a 50:50 [...]
MADE hires fresh Chief Customer Officer just months after it slashed 2022 expectations July 5, 2022 Lifestyle brand Made.com has appointed its first ever Chief Customer Officer Dan Elton as it tries to ride its ongoing difficulties. The role will involve leading MADE’s Marketing, Digital and Customer Experience teams, as well as accelerating MADE’s growth in mainland Europe. It comes after MADE slashed its 2022 expectations back in May, with both [...]
Retail employment falls at sharpest rate in more than a decade August 25, 2020 Retail employment fell at the fastest rate in more than a decade in the year to August as high street firms cut jobs amid the coronavirus pandemic. Employment in the retail sector fell 45 per cent in August – the sharpest drop since February 2009 – compared to a drop of 20 per cent in [...]
Barclays shares hit two-year high after profit beats estimates, but investment bank struggles April 25, 2024 Barclays has reported an 11 per cent drop in profit - slightly outperforming analysts' estimates - as the boost from higher interest rates fades and its investment bank struggles to compete with its Wall Street rivals.