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 [...]
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 [...]
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 [...]
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 [...]
Staff hauled out millions of euros in cash from Wirecard’s HQ in Aldi and Lidl shopping bags April 23, 2021 Wirecard employees hauled out millions of euros in cash from the group’s Munich headquarters, according to former employees. Former employees told Munich police that staff repeatedly removed large sums of cash in Aldi and Lidl plastic bags from Wirecard’s HQ, the Financial Times first reported. The practice started as early as 2012, and suggests fraudulent [...]
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 [...]
Panic over: Brits made 117m fewer trips to the supermarket this March March 30, 2021 Brits made 117m fewer trips to supermarkets this month than in March 2020, which was a month that saw supermarket shelves stripped bare as consumers started panic buying ahead of the UK’s first national lockdown. Grocery sales fell three per cent in the four weeks to 21 March 2021, while during the same period last [...]
Aldi and Lidl sales growth slows as discounters struggle to compete with Big Four’s online capabilities March 2, 2021 The growth of the discount supermarkets Lidl and Aldi has slowed as the Big Four UK grocers benefitted from their more established online presence during the pandemic. German budget grocers Lidl and Aldi reported that sales were up 10.9 per cent and 5.6 per cent respectively in the 12 weeks to 21 February. However, three [...]
Lidl bomb: Three injured in explosion at supermarket’s headquarters February 17, 2021 Three people have been airlifted to hospital after a letter bomb exploded at Lidl’s headquarters in Germany. A further 100 employees were evacuated from the building in the German city of Heilbronn after the package blew up at 3pm, according to local media. A bomb squad has been deployed to the supermarket’s HQ and police [...]