Petrol retailers are not profiteering despite record prices at the pumps, say experts May 31, 2022 Petrol retailers are not engaging in wholesale profiteering amid record forecourt prices said industry analysts.
City Moves: Who’s switching jobs in the Square Mile today? October 6, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Pinterest Photo sharing and publishing platform Pinterest has hired a Global Agency Commercial Lead for its London office. Stepping into the role in November, Martin Galvin is set to lead the platform’s commercial partnerships programs with media [...]
In tune: Synth makers Sequential snapped up by Focusrite for £18m as revenues grow April 27, 2021 High-end synthesizer firm Sequential boasted revenues of $18.3m last year, which hit all the right notes for audio products company Focusrite to buy it for $24m today. The existing management and team will stay with the California based Sequential post-acquisition. Meanwhile, the company could receive up to $4m more, depending on its performance. Focusrite’s board [...]
Lidl plans 500 new jobs in Scotland July 8, 2019 Supermarket chain Lidl is planning to hire 500 new people in Scotland across 12 new stores, it announced this morning. The low-cost grocer will add to its 98 stores across the country. It is already building new sites at Dundee, Cowdenbeath, Larkhall, Dumbarton and East Kilbride. Read more: Lidl unveils £500m London expansion plan for [...]
Pod Point hires Bank of America to help with float plan – report April 7, 2021 Electric vehicle charging firm Pod Point has reportedly brought on Bank of America to work on a potential stock market float. According to Sky News, the firm could go public at some point this year, with Bank of America working together with Barclays on the deal. Pod Point is majority owned by French energy giant [...]
Supermarket clothing sales double as shoppers seek retail therapy April 7, 2021 Supermarket clothing sales boomed last month as consumers sought in-person shopping experiences while non-essential retailers were closed, in a positive indicator of pent up demand ahead of high streets reopening next week. Sales of clothing at supermarkets doubled to £313m in the four weeks ended 27 March. Home and garden sales also collectively jumped to [...]
Deutshe Bank mulls ditching EY as auditor following Wirecard scandal May 28, 2021 Deutshe Bank is inviting firms to compete for its 2020 audit just two years after hiring EY to replace KPMG, in a move that could see EY ditched in favour of another company. The chair of Germany’s biggest lender Paul Achleitner told shareholders that the company wants “to keep all its options open” when it [...]
Tesco, M&S and John Lewis among UK retail giants to threaten Brazil boycott over Amazon deforestation May 5, 2021 UK retail giants including Tesco, Marks & Spencer and John Lewis have threatened to boycott Brazillian agricultural commodities over the deforestation of the Amazon. In an open letter published today the retailers said they will take action if Brazil’s government passes a law expanding property rights for squatters on public land. Campaigners have warned that [...]
South Western Railway won’t restore pre-pandemic rail service in ‘attack’ on business October 21, 2021 South Western Railway (SWR) will not restore its London rail services to pre-pandemic levels next year in a move that has been labelled as “an attack” on central London’s economic recovery. Figures, compiled by the Liberal Democrats, show SWR will cut their services across South West London from December 2022, compared to pre-pandemic levels, by [...]
Morrisons online sales continue to soar despite lockdown easing May 11, 2021 Morrisons said online sales have continued to soar this year despite the lifting of lockdown restrictions. In an update this morning the supermarket chain said online sales were up 113 per cent in the 14 weeks ended 9 May compared to the same period last year. Internet sales helped boost group like-for-like sales excluding fuel [...]