Tesco raises price of meal deal due to soaring cost of food October 21, 2022 Tesco has raised the price of its well-liked lunchtime meal deal for the first time in a decade as the cost of food soars. The supermarket giant said its meal deal “continues to represent excellent value” but soaring food prices has forced it to up the cost. Inflation is currently at 10.1 per cent while [...]
Tesco pledges £1m for food banks and charities ahead of most difficult winter October 21, 2022 Tesco has put up £1m in support for food banks and charities following a desperate appeal about impending winter shortages. The supermarket giant responded to a plea from the Trussell Trust, who warned they are facing their most difficult winter to date. With the cost of living crisis eating into millions of people’s finances and [...]
Mayor seeks development partner for £107m Greenwich industrial project October 21, 2022 The Mayor of London is seeking to regenerate a part of Greenwich in a £107m project. Sadiq Khan is appealing for a development partner to work on the 3.38-acre site at 75 Bugsby’s Way, to turn it into a multi-storey industrial complex. The plan is part of his objections to intensify industrial projects in the [...]
Civil Aviation Authority chief steps down following a summer of travel chaos October 21, 2022 The chief of the UK Civil Aviation Authority will stand now next year after a rocky few years of pandemic transport chaos and strike action drama. Richard Moriarty has worked for the organisation for more than ten years, in senior roles including Director of Competition and Economic Regulation, Director of Consumers and Markets, Deputy Chief Executive [...]
Heads of nine key energy firms warn bill ‘threatens to undermine’ regulation in sector October 21, 2022 The heads of nine major energy companies have voiced “increasing concern” about a bill which “threatens to undermine strong, independent” regulation of the sector. In a strongly-worded letter to Jacob Rees-Mogg MP Secretary of State for Business, Energy and Industrial Strategy (BEIS), they urge the government to rethink measures Energy Prices Bill. The bill is [...]
Advertising cuts continue to sting Snapchat October 21, 2022 Snapchat’s growth continued to plateau this quarter as the advertising slump continues for the social media company. Falling well below most Wall Street estimates, Snap’s said revenue climbed a humble six per cent to $1,13bn, while net losses widened from $72m to $360m. Adjusted earnings before interest, taxes, depreciation, and amortisation was $73m, compared to [...]
Barclays hit with £50m fine over ‘reckless’ financial crisis fundraising October 21, 2022 The City watchdog said it will fine Barclays £50m today for failing to disclose fees paid to Qatari investors as it scrambled for emergency cash during the 2008 financial crisis.
London Stock Exchange Group beats analyst estimates with £1.9bn income October 21, 2022 The chief of the London Stock Exchange Group said its “strategy is working” today as it reported a 16.2 per cent rise in income and doubled down on its profit targets.
Wickes reports sales growth ahead of winter dominated by rising energy costs October 21, 2022 Home improvement giant Wickes announced a boost in sales ground in the third quarter, as it looks to maintain “rigorous control” of costs ahead of a choppy winter. The retailer registered like-for-like sales growth of 2.6 per cent in the last three months, down from 5.4 per cent on the second quarter, but recovered from [...]
Retail sales volume fall to 1.3 per cent lower than pre-covid levels as cost of living bites October 21, 2022 Retail sales volumes have plummeted to 1.3 per cent lower than pre-coronavirus levels as rising prices and the cost of living continues to bite. Latest figures from the Office for National Statistics show sales volume on the high street were down by 1.4 per cent in September, though data was impacted by a bank holiday [...]