Silverstone owners threaten to drop British Grand Prix January 5, 2017 Silverstone's management is threatening to drop the British Grand Prix because of spiralling costs of running it. John Grant, chairman of the British Racing Drivers' Club (BRDC), owners of the racing track, has written to members warning of the "potentially ruinous risk" of hosting the loss-making event. In a letter, seen by ITV, Grant said he wanted to "preserve [...]
Sainsbury’s expected to ask for more time over Home Retail Group bid as Christo Wiese’s Steinhoff International joins the party February 21, 2016 Sainsbury’s is expected to ask for an extension to tomorrow’s deadline for making a firm offer for Home Retail Group after a South African retail conglomerate waded in at the eleventh hour with a higher offer. The supermarket chain revealed earlier this month that it had reached an agreement with Home Retail over a possible cash [...]
John Lewis Partnership slashes bonus as Waitrose profits fall March 12, 2015 The John Lewis Partnership, known for its generous staff incentives, has slashed the bonus payout to its partners after a hit on profits at its upmarket grocery chain Waitrose. Staff will receive a bonus of 11 per cent of their annual salary, down from last year's 15 per cent – the third annual decline in a row. [...]
Deutsche Bank’s chief risk officer hits back and explains the real derivatives exposure October 9, 2016 Fears over Deutsche Bank's mammoth derivative exposure have been completely overblown according to its chief risk officer. Stuart Lewis got on the front foot when asked about the beleaguered German lender's derivative exposure this weekend. "The risks in our derivatives book are massively overestimated. The €46 trillion (£41 trillion) figure sounds gigantic, but it is completely misleading. The real risk is far [...]
John Lewis Partnership poised to reduce bonus payout to staff March 9, 2015 THE JOHN Lewis Partnership will this week seek to cut its bonus pot for staff for a second year in a row after the supermarket price war took its toll on sales at its upmarket grocery chain Waitrose. Waitrose has grown sales and market share faster than its traditional supermarket rivals in recent years, thanks [...]
Tesco to start charging £2 for click and collect deliveries under £30 from February January 6, 2016 Tesco is to start charging for click-and-collect deliveries under £30, as the business looks to bolster its bottom line. The £2 charge, which will apply to deliveries under £30, will come into force from 2 February, according to an email sent to customers today. Tesco said in a statement the move was designed to ensure its click-and-collect service [...]
Waitrose is “well set up” to face arrival of Amazon, says outgoing boss Mark Price March 10, 2016 Waitrose's outgoing boss Lord Price played down the threat of Amazon's entry in the UK, insisting it was strong enough to fend off competition and would continue to be “one of the few” retailers to increase profitability this year. Price, who was made a peer last week ahead of his new role as trade minister [...]
“Really, is that it?” – reactions to the government’s housing white paper February 7, 2017 In the year that the US President signed an executive order to build a wall, UK politicians got together to write a housing paper that was lacking in concrete ideas. There were some general indicators of where the government is going on housing, however. Here's how the property industry reacted: On the lack of content [...]
Without proper e-commerce investment, Steve Rowe risks making Marks & Spencer fade into obscurity January 8, 2016 Ahead of Christmas, UBS analysts predicted that the retail winners would be those with the strongest online offering. As sales results from the holiday period get reported, the analysts are being proven right, with the most e-commerce and mobile-friendly retailers coming top of the pile in the festive fight. This trend claimed it’s first victim this week, with the [...]
Focus On Shepherd’s Bush: Westfield expansion and old BBC Television Centre homes put W12 in limelight May 12, 2016 For years now, the east has been the land of regeneration. The long lead up to the Olympic Games in Stratford and the success of the City fringes have seen most of property agents’ “up-and-coming” rhetoric focused in that direction and one could be mistaken for thinking there was simply nowhere else for traditionally prosperous west [...]