City Moves: Who’s switching jobs in the Square Mile this week? February 3, 2022 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. Just FTSE 250 retirement group Just has appointed a new managing director to its high growth defined benefit de-risking business after it secured record results last year. Joining in mid-April, Pretty Sagoo brings a “wealth” of experience in bulk annuities and the pensions risk transfer market to [...]
The best (and worst) supermarket Christmas sandwiches 2022 December 8, 2022 It’s beginning to look a lot like, City A.M.’s annual Christmas sandwiches taste test! Don’t we treat you well… The City A.M. team have been torn away from writing about all the important stuff to chow down on some delicious Christmas sandwiches, as well as some truly awful ones bringing Scrooge energy that really should [...]
Audit watchdog closes investigation into Tesco accounting scandal June 8, 2020 The Financial Reporting Council (FRC) has announced the closure of its remaining investigation into accountants at Tesco, ending a six-year probe linked to an overstatement of profit by the supermarket chain. The FRC said this morning it was closing an investigation into Tesco’s announcement in 2014 that it had overstated profits by £263m, a figure [...]
Nestlé: Nespresso and Kit-Kat maker hikes prices and sweetens sales growth April 25, 2023 Share price in Kit-Kat maker Nestlé were up as the food giant beat profit expectations while hiking the price of its goods. The Swedish packager, which owns brands such as Nespresso, Smarties Nesquik and Maggi stock cubes, reported a sales growth of 5.6 per cent to CHF23.5bn (£21.2bn) in the first leg of the year [...]
Public firms could be allowed to extract £50bn from staff pension schemes in bid to boost investment August 21, 2023 Public firms could be permitted to withdraw up to £50bn from staff pension schemes if government plans for a sweeping shake up of the industry’s rules go ahead. Returns on investments in government bonds – known as gilts – have seen workplace pension schemes go from being well in the red to significantly cashed up [...]
Cashplus boss: More challenger banks to go up for sale as big lenders see ‘brain drain’ February 3, 2024 The consolidation of mid-sized challenger banks will likely ramp up in 2024, the chief executive of digital bank Cashplus has told City A.M.
Exclusive: Getir teams up with Co-op as rapid delivery firm looks to grow UK presence October 26, 2022 Getir has joined forces with Co-op to deliver groceries from the retailer to consumers in a hurry. The rapid delivery firm will launch a pilot to offer app users hundreds of Co-op products across London from today. Nisa Retail, Co-op group’s wholesale division, will be working with Getir to supply the range of around 300 [...]
McDonald’s is latest to shutter on Monday for Queen’s funeral September 14, 2022 Fast-food giant McDonald’s is the latest retailer to close its doors on Monday for the Queen’s funeral. The restaurant chain’s UK arm announced it would close until the early evening as up to a million descend on central London to say goodbye to Her Majesty. Earlier this week, Lidl, Waitrose and Sainsbury’s and Tesco were among [...]
Profiteering? Supermarkets to face Parliamentary grilling this week June 25, 2023 Supermarket bosses will be probed this week on whether or not they are profiteering from high prices. Lead figures from UK ‘Big four’ grocers, including Morrison’s boss David Potts, will face questions from MPs on Tuesday on red hot food and fuel prices, and when customers might see price falls. Sainsbury’s’ food commercial director, Tesco’s [...]
Recession fears see Brits stock up on own-brand kitchen staples April 3, 2023 THE COST of living crisis is beginning to be felt in the pockets of ordinary punters – with more than one in three turning towards own brand products to keep the kitchen cupboard stocked. New research from KPMG suggests more than half of UK consumers have reduced ‘non-essential’ spending amid recession fears, with eating out top of [...]