A liberal Brexit means continued EU-UK cooperation – but this time as equals January 6, 2017 Brexit means something remarkably straightforward: at some point before the middle of 2019, the UK will no longer be under the jurisdiction of any EU court or legislature. The fact of our impending departure does not, however, mean cutting ourselves off from Europe. If Brexit is easy to define, the details of what our post-EU relationship [...]
A Lidl competition: Aldi becomes the highest-paying supermarket in the UK January 5, 2017 Aldi has given its employees a late Christmas present as it unveiled new pay rates this morning – and boasted that the new deal will make it the highest-paying employer in the supermarket sector. The supermarket is known for offering the cheapest groceries in the UK, but is now insisting it won't settle for a [...]
Ex-migration chief recruited to crack down on workplace exploitation January 5, 2017 The former chair of one of an independent migration watchdog has been recruited to lead a government crackdown on exploitation of workers. Sir David Metcalf has sat on the Migration Advisory Committee since its creation in 2007, and will now serve as the first director of labour market enforcement. Metcalf, who was also a founding member [...]
Next’s shares tumble after company issues profit warning January 4, 2017 Next's shares have taken a hammering today after the retailer issued a profit warning. The retailer cut its profit forecast for 2017-18 to a range of £680m-£780m. Analysts had estimated the forecast would be £784m. Following the announcement, Next's share price tumbled by 12 per cent. Next's shares have now fallen nearly 50 per cent since [...]
B&M side-steps clouds gathering over retail stocks January 4, 2017 B&M has side-stepped the overall gloom surrounding retail stocks this morning, rising over seven per cent in morning trading after a strong trading update. Other retail stocks – including Marks and Spencer's, Debenhams' and Associated British Foods' – have taken a hit today after Next tumbled 11 per cent at the open. Read more: Next [...]
Retailers will need to brave fierce headwinds in 2017 January 2, 2017 The high street's cold snap over Christmas and the New Year is not just seasonal. Several chills running through the sector could finally be felt with their full force in 2017. Rising inflation, falling wage growth, escalating costs and sterling's depreciation are all expected to weigh on retailers in the coming months. If inflation takes [...]
John Lewis hits out at Labour MP over Christmas jingle December 20, 2016 The John Lewis Partnership has hit out at a campaigning Labour MP after she produced a Christmas jingle criticising the retailer for how it treats its staff. Labour MPs, led by Siobhain McDonagh, recently recorded a song – titled "National Living Rage" – to highlight how retailers are cutting staff benefits in response to the national living wage. Read more: [...]
From public sector pensions to social care, the government is scarily ill-prepared for major demographic change December 13, 2016 The gap between private and public sector pensions in the UK is the worst in the developed world, according to the OECD. New civil servants can expect to receive a 6 per cent pay rise when they reach retirement, while private sector workers can expect a cut of nearly 50 per cent. Mounting pressures on social [...]
Uber treats drivers like Victorian “sweated labour”, says Frank Field in gig economy report December 9, 2016 Frank Field might be more commonly known as one of the thorns in Sir Philip Green's side, but Uber might now have a bone to pick with him too. The Labour MP and chair of the Work and Pensions Committee has uploaded a report to his site analysing the working relationship between Uber and its drivers, [...]
Brexit is bringing European “shopcationers” to London to do their holiday shopping December 5, 2016 Spanish and Italian shoppers are set to hit the streets of London in droves this weekend to bag bargains ahead of Christmas. Since the EU referendum, the weak pound has made London a prime destination for "shopcationers", or people travelling from abroad with the intention to shop, new data suggests. Read more: Christmas shopping will be cheaper this year [...]