Virgin Media O2 to slash 2,000 jobs as it tries to rid itself of billions in debt July 25, 2023 Virgin Media O2 has revealed plans to slash 2,000 jobs by the end of the year. The telecoms giant issued redundancy notices yesterday evening as part of their effort to streamline operations. The cuts, which include around 800 previously reported job reductions, will affect over 12 per cent of the company’s current workforce. Virgin Media [...]
Supermarket meal deals help convenience food maker Greencore deliver solid revenues July 25, 2023 Convenience food maker Greencore has said the number of sandwiches sold as part of supermarket meal deals has reached record highs as it reported solid quarterly revenues. The Irish business, which supplies sandwiches and sushi to the likes of M&S and Waitrose, said 52 per cent of supermarket sandwiches are now bought as part of [...]
Ofgem hits SSE with £9.78m fine after securing ‘excessive’ payments which raised costs for customers July 25, 2023 Ofgem has made a final decision to impose a hefty £9.78m financial penalty on SSE for securing excessive payments from ESO.
Better Business: Impact Governance July 25, 2023 | Sponsored 7 essentials for governing a purpose-driven business Your corporate purpose is your compass, guiding your profitability and your business’ wider impact on the world. In defining what corporate purpose should be, there’s clear momentum towards stakeholder capitalism in the UK, with initiatives like the B Corp movement and the Better Business Act bringing corporate purpose [...]
Food promotions now make up 22.5 per cent of grocery sales – and it’s up a fifth from last year July 25, 2023 Promotions on food and other items now account for 22.5 per cent of grocery sales, as Brits continue to seek out bargains amid the cost of living crisis. The figure has risen from 20 per cent last year in the same period last year and is the highest over the past 12 months excluding Christmas and [...]
Decision due in appeal by Dyson firms over broadcast reference in libel case July 25, 2023 Two Dyson companies are due to find out if they have won a Court of Appeal bid over a judge’s ruling about whether a broadcast that alleged the exploitation of factory workers referred to the firms. Dyson Technology Limited and Dyson Limited, along with Sir James Dyson himself, sued Channel 4 and Independent Television News [...]
Unilever: New boss promises step-change after ‘flat volumes’ in half-year results July 25, 2023 Unilever made a modest profit in the first half of the year with turnover reaching €30.4bn (£26.2), as it was driven by sales in its personal care and beauty market.
Utilita boss: We’ve got ‘no faith’ in Ofgem’s ability to manage the market July 25, 2023 The price cap is still "the biggest single risk to supplier profitability," warned Utilita boss Bill Bullen, as he called for more household support.
A housebuilding revolution has many advantages – growth being one July 25, 2023 Go to tech conferences, and much of the buzz revolves around ‘Web 3.0,’ a catch-all term for the future of the internet that even when pushed most of its proponents struggle to define. Perhaps, then, we should be grateful that government continues to tootle along with plain-old 2.0. It’s two years or so since Rishi [...]
The Notebook: Kokou Agbo-Bloua on fashionomics, inflation musings and our broken food system July 25, 2023 Where interesting people say interesting things. Today it’s Kokou Agbo-Bloua, global head of economics, cross-asset & quant research and UK head of research at Societe Generale Fashionomics: The Good, The Bad and The Ugly Since the dawn of time, clothing has been an important part of our human experience. We lost our fur at least [...]