Tory leadership race: UK retail titan Lord Stuart Rose backs Rishi Sunak race to number 10 The Conservative party should choose Rishi Sunak as its next leader as he has a “big brain” and understands “the need for us to get our economy back on track”, according to Asda chair Lord Stuart Rose. Rose – who was previously chief executive at Argos, Marks & Spencer and the Arcadia Group – said [...]
Stuart Rose backs challenger money manager Netwealth in £11m funding round Stuart Rose backs challenger money manager Netwealth in £11m funding round Netwealth, the money manager backed by a string of leading City figures, has secured its fourth round of fundraising with total investment reaching £38m. The self-proclaimed challenger wealth manager has completed a £11.3m round which included a cash injection from former M&S boss Stuart Rose. ICAP founder Michael Spencer who previously invested £5m in 2019 [...]
It has to be Heinz? Not in this economy, till reports suggest Cost of living crisis Shoppers are continuing to switch to supermarket ketchup, milk and cereal own-brands to cut down on spending amidst the cost of living crisis. Volume sales in store branded products surged 63.3 per cent in the fast moving consumer goods (FMCG) category during May, figures by consumer intelligence company NIQ show. Food prices have surged since [...]
Asda chair slams Boris Johnson for not being ‘in charge’ as UK flounders amid cost of living crisis August 17, 2022 Boris Johnson has been lambasted by Asda boss Stuart Rose for being on “shore leave” as the UK faces economic turmoil. The supermarket chairman has criticised the Prime Minister for treating his last few weeks in the job as “one big party,” while the country is in the throes of a cost of living crisis. [...]
Asda chairman says supermarkets owed ‘debt of gratitude’ as he snubs profiteering claims September 5, 2023 Asda’s chairman said supermarkets are owed a “great debt of gratitude” as he rebuffed claims that the grocer is profiteering from rising petrol and food prices amid the cost of living crisis. Speaking to LBC, Stuart Rose said that all retailers have seen their profits over the last year go “backwards”. “If you look at [...]
Asda chair calls for business tax relief amid historic inflation levels June 19, 2022 Retail grandee Stuart Rose has said the government was too slow to move on the cost of living crisis and historic levels of inflation. The Asda chair and former Marks & Spencer boss has urged ministers to help struggling households amid the “tough times.” Speaking on Aquis Exchange’s Full & Frank podcast, Rose said Asda [...]
‘You can’t interfere in the markets,’ Asda boss tells government over food price caps May 30, 2023 Veteran retail boss Stuart Rose has warned the government of “unintended consequences” around encouraging supermarkets to impose price caps on food staples to cut the cost of living. Asda chairman Lord Rose, who also ran Marks and Spencer and chaired Ocado, said “you can’t interfere in the markets” and warned of the “unintended consequences” of [...]
Asda chair hammers government for ‘tin eared’ response to cost of living crisis April 3, 2022 The government has delivered a “tin-eared and slow” response to the UK’s cost of living crisis, according to the chair of Asda. Tory peer Lord Stuart Rose said chancellor Rishi Sunak should put together a new package to ease the pain of soaring costs for households, adding that “the main problem that the government has [...]
The Square Mile and Me: Susannah Streeter on Northern Rock, Primrose Hill and Anne Boden April 27, 2023 Each week we ask the City’s movers and shakers to delve into the memory bank – and this week, it’s the former journalist and now Hargreaves Lansdown’s Head of Money and Markets Susannah Streeter in the hotseat What was your first job? My first job was as a silver service waiter for functions at the [...]
Boris Johnson’s endurance on immigration will be put to the test by labour shortages September 22, 2021 I always loved interviewing Stuart Rose. He was great company and if you stayed quiet long enough after asking a question, he’d give you a quote that made his press officers wince. Unfortunately for the former M&S chief, his honesty caused his downfall in Westminster when – as a Remain supporter during the Referendum campaign [...]