Iceland blames Russian war for whopping £95.7m energy bill November 14, 2023 Iceland, the frozen food supermarket, has blamed a “global surge” in wholesale prices following the war between Russian and Ukraine for its hefty £95.7m energy bill in the year to March. The value grocery chain, which specialises in frozen processed food, said that forking out for the “wholly unprecedented” charge led to a £35m loss [...]
McDonald’s: Sexual abuse at fast food chain ‘normal’, union chief warns November 14, 2023 The president of the Bakers, Food and Allied Workers Union, said that it was “normal” for McDonald's employees to be touched inappropriately.
Revolution Beauty: Shake-up of top team gives stability with revenue up 20 per cent November 14, 2023 Troubled make-up brand Revolution Beauty has posted a 20 per cent rise in revenue, as a shake-up of its top team appears to have provided some stability for the brand after a volatile few months. In the six months to August, the cosmetics maker said that adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) [...]
Hammerson in talks to sell £1bn stake in owner of Bicester Village November 13, 2023 British shopping centre giant Hammerson is reportedly in advanced talks to sell its £1bn stake in Value Retail, owner of Bicester Village, the luxury retail complex.
Small pubs at risk of closure next year without business rates relief, Fuller’s boss warns November 13, 2023 The chief executive of Fuller’s, Simon Emeny, has said that an extension on business rates relief could be the difference between some small pub businesses handing back their keys next year or remaining open. Speaking to City A.M, ahead of the autumn budget next Wednesday, the frontman for the near 200 year old pub business, urged [...]
Joe & the Juice gets new majority owner after private equity giant swoops November 13, 2023 General Atlantic has reached an agreement to buy a majority stake in Joe & the Juice, the trendy sandwich and smoothie chain.
Avon launching first UK stores in its 137-year history amid global retail push November 13, 2023 The group is opening an initial tranche of beauty outlets in the UK within the next two months
Royal Mail hit with £5.6m fine after sluggish delivery times November 13, 2023 The £5.6m fine, to be paid to HM Treasury within two months, includes a 30 per cent reduction, acknowledging Royal Mail's admission of liability.
Make or break: Struggling small firms hope holiday season will bring vital boost November 13, 2023 As small businesses power through the economic headwinds of the year and look towards a more positive 2024, the holiday season might just be what makes or breaks it for some. Laura Timm, the Federation of Small Businesses London policy chair, referred to the next few months as the “golden quarter” for small businesses looking [...]
Diageo shares crash 15 per cent after it lowers forecasts amid Caribbean storms November 10, 2023 Diageo said it expects a slowdown in net sales growth in the first half of 2024, thanks to a performance downturn in Latin America and the Caribbean (LAC).