Sunday Sitdown: ‘There is a demand to return to the office’, says boss of City favourite T.M. Lewin August 21, 2022 British menswear brand T.M. Lewin – for decades a favourite among City workers – is back. Two months after the heritage brand struck a last-minute rescue deal with shirtmaker Limited, the company has managed a re-launch after the pandemic nearly killed off the Square mile favourite. Established over 120 years ago, T.M. Lewin is steeped in [...]
Crunch time: Morrisons takeover battle to culminate in one-day auction this weekend September 29, 2021 A months-long multibillion pound takeover battle for Morrisons will culminate in a one-day auction on Saturday, the UK’s takeover watchdog has confirmed. The stock market’s Takeover Panel said it would run a bidding process of up to five rounds this weekend because neither of the private equity bidders Clayton, Dubilier & Rice and the Fortress [...]
Londoners’ petrol and energy costs up by record 20 per cent in last two weeks alone October 14, 2021 Analysis of Brits’ debit card data shows this morning that September 24 saw the highest amount spent on fuel in a single day since Lloyds Bank records began. The peak fell the day after BP and Tesco closed some filling stations due to problems with fuel delivery. Across the UK, people spent a fifth (20 [...]
Food sector boss warns of permanent shortages in restaurants and shops September 10, 2021 Shoppers in the UK should expect permanent shortages of products now, according to a food and drink industry leader. The food and drink sector was short of around half a million workers, CEO of the Food & Drink Federation, Ian Wright, told the Institute for Government’s panel on supply chain disruption. The nation would not [...]
Tesco shares: Reasons to be cheerful June 18, 2019 Early selling following this Q1 update attracted bargain hunters. Our head of markets explains why. Tesco (LSE:TSCO) recovery from the dark days of having taken its eye off the ball in the UK continues apace. The radical overhaul which the business has undergone has seen Tesco’s shares rise by 50% over the last three years. More [...]
Judge rules in favour of Morrisons workers in £100m fight for equal pay September 28, 2021 Thousands of Morrisons retail staff are making progress with their £100m fight for equal pay following a new ruling at an employment tribunal. The ruling, by judge Davies at Leeds Employment Tribunal, confirmed that Morrisons’ shop floor workers can compare their pay with the supermarket giant’s distribution centre workers. The mostly female staff, both current [...]
Food packaging giant Hilton thrives as pandemic changes eating habits January 14, 2021 Hilton Food Group has surpassed expectations with a continuation of strong sales and volume growth, according to a trading update released today. The group’s success was driven by their own expansion as well as the shift to home consumption throughout the Covid-19 pandemic. Hilton made strong progress across several European markets, benefitting from people eating [...]
City Moves: Who’s switching jobs in the Square Mile this week? August 11, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Former Tesco director joins London’s Interpath as special advisor London-headquartered firm Interpath Advisory has appointed former Tesco director and retail veteran Christine Cross as a special advisor for the business. Cross’ extensive non-executive and advisory board [...]
Tesco Metro prepares to slash 4,500 jobs August 5, 2019 Tesco is set to slash around 4,500 jobs across all of its 153 Metro stores, the company announced today as it battles with a tough retail environment. The cutbacks will reduce processes and administrative tasks across the stores, it said. Read more: Ocado and M&S share prices drop as they complete £750m online delivery deal [...]
British Land set to buy retail parks in diversification push April 14, 2021 British Land today said it was exploring further opportunities to buy retails parks and investing more in urban logistics following a surge in online shopping. The London-listed real estate firm cited customer confidence in visiting open-air retails parks where social distancing can easily be managed. A shift in location would see British Land move away [...]