Sainsbury’s: ‘Food inflation starting to fall’ as supermarket giant reports grocery sales surge by 11 per cent July 4, 2023 Sainsbury’s has claimed “food inflation is starting to fall” as it recorded an 11 per cent hike in grocery sales in the first leg of the year. The ‘Big Four’ grocer, recorded an inflation-led 9.8 per cent like-for like-increase in total retail sales excluding fuel in the first quarter of the year up from 4 [...]
Twitter explainer: What are rate limits and why are they causing advertising headaches July 4, 2023 Twitter advertising troubles may have gone from bad to worse after Elon Musk has put his foot in it again – this time by restricting users’ viewing limits over data concerns. On Saturday, the billionaire ex-CEO of Twitter imposed a temporary ‘rate limit’ on all users, effectively capping the number of Tweets that accounts can [...]
Heathrow Airport names Thomas Woldbye as new chief – here’s what we know July 4, 2023 A successor for Heathrow Airport’s long-time chief John Holland-Kaye was finally announced last Friday. Thomas Woldbye, Copenhagen Airport’s CEO since 2011, will take over the cockpit from Holland-Kaye, having emerged as a standout candidate for what has been described as “one of the most important roles in global aviation”. Amid tough competition, Woldbye’s stint at [...]
ULEZ expansion will push building businesses over the brink, warns industry boss July 4, 2023 The boss of the British Merchants Federation (BMF) has warned that outer London building businesses hit by ULEZ charges could face closure or move if the 29 August expansion goes ahead as planned. John Newcomb, chief executive of the trade association BMF, told City A.M.: “My biggest concern is that you would see closure of [...]
Ofgem clamps down on firms handing out dividends without secure finances July 4, 2023 Ofgem will step in against suppliers that hand out dividends to shareholders before recapitalising, warned the watchdog's boss.
Apple halves Vision Pro headset production plans as virtual reality given a reality check July 3, 2023 Apple has slashed production forecasts for its $3,499-a-piece Vision Pro headset as the company experiences teething problems in its foray into virtual reality, according to reports. The tech giant has had to halve 2024 shipments for its mixed-reality headsets with predictions down from 900,000 to 400,000 in the first year, according to a Financial Times [...]
Le Pain Quotidien operator crashes into administration with only one London store to survive July 3, 2023 A City hotspot for morning coffee, Le Pain Quotidien, has closed all but one of its sites across London, in another fatal blow for the city’s hospitality sector. The Belgian coffee chain, which operates from eight sites across the capital, including a cafe on Fish Street Hill in Monument, has closed all of its sites [...]
Italy holidays: Why Bergamo and Brescia are the Italian places we love this summer July 3, 2023 Italy holidays: Italy’s dual City of Cultures make a great break, says Sophie Ibbotson THE WEEKEND: In recent years, the UK has chosen Hull, Derry, and Coventry as its annual City of Culture. Bradford’s turn is next. The Italians seem to take things a little more seriously, and have awarded this year’s cultural crown to [...]
Scale up investor: Hiring trans women like me isn’t just right – it’s good for business July 3, 2023 Reece Tomlinson, founder of investment firm Saône Capital, on how investing in trans and non-binary people is good for business, as people from different backgrounds have different ideas and approaches “When you look at underrepresented founders as a whole, they’re actually the majority of founders,” says Reece Tomlinson, trans CEO and founder of the Saône [...]
Who’s next? Industry debt mountain threatens more than Thames Water July 3, 2023 Thames Water's troubles raise significant questions - such as who could be next and what happens now in the water industry.