WH Smith, M&S and Argos among hundreds fined for failing to pay minimum wage June 21, 2023 Hundreds of businesses including high-street heavyweights WH Smith, M&S and Argos have been named and shamed after being fined for failing to pay workers the minimum wage. Firms from sole traders to household names were ordered to repay 63,000 staff lost wages totalling close to £5m, after breaching National Minimum Wage (NMW) law. WH Smith [...]
Lidl wants to build one if its biggest ever supermarkets and 71 homes at Bingo site in Greenwich February 15, 2024 Lidl wants to construct 71 new homes and a 31,000 sq ft supermarket at the site of a former Mecca Bingo site in Greenwich, in its latest tactic to secure planning permission for a new site in London. The supermarket, proposed to be located on the first and group floor of the building, would be [...]
Zopa: C-suite hiring spree continues with ex Sainsbury’s, Moonpig and KPMG execs June 16, 2023 Digital bank Zopa has drafted in top figures from Sainsbury’s, Moonpig and KPMG as part of a major leadership shakeup before an expected flotation. The lender announced today Peter Donlon and Kate Erb have been brought in as chief technology officer (CTO) and chief operating officer (COO) It said the moves were made as it [...]
Co-operative Bank picks up £479m Sainsbury mortgage portfolio amid speculation over banking M&A August 11, 2023 The Co-operative Bank has bought the mortgage portfolio of Sainsbury’s Bank for £464m as speculation over the future of the UK’s mid-sized lenders continues. The portfolio contains around 3,500 customers and is worth nearly £480m. The deal’s completion comes after months of negotiations, with reports earlier in the year suggesting talks between the two had [...]
Christmas shopping: Sainsbury’s invests extra £50m into battling price inflation December 5, 2022 Sainsbury’s has announced it will pump an additional £50m into its cost of living value plan by March 2023. The supermarket said it has invested in a Christmas roast dinner at less than £4 a head, as part of a £15m investment plan to keep prices affordable on festive staples. Low prices and new special [...]
The Notebook: Victoria Scholar on good news for inflation, the economics of Taylor Swift and the state of crypto July 6, 2023 Where the City’s movers and shakers get a few things off their chest. Today, it’s Victoria Scholar from Interactive Investor Supermarkets sound a positive note on inflation Some good news on inflation at last – Sainsbury’s says food inflation is starting to fall. Its CEO Simon Roberts said the company is “putting all our energy [...]
Hot mic moments show us the real side of our leaders, for better or worse September 6, 2023 When Gillian Keegan swore on camera this week, it caused quite a reaction. But hot mic moments are fundamental in showing us political and business leaders are human, writes Simon Neville
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 [...]
Supermarket wars: Lidl and Aldi play catch up with Tesco in slashing price of milk April 14, 2023 Aldi and Lidl have followed rival supermarkets Sainsbury’s and Tesco in slashing the price of milk. The budget retailers announced on Friday that they are cutting the price of their four-pint own brand bottles by 10p from £1.65 to £1.55. The change follows a similar announcement by supermarket Sainsbury’s on Thursday, with Tesco being the [...]
The Notebook: Victoria Scholar on the future of supermarkets September 26, 2023 Interactive Investor's Victoria Scholar on supermarkets, China's growth and a new podcast in the City A.M. notebook