BNPL set to hit $607bn by 2026 despite regulatory scrutiny, analysts predict June 21, 2022 The global buy-now pay-later credit market will swell to $607bn by 2026 despite increased regulatory scrutiny of the sector, analysts have predicted.
Bewildered: M&S hits out at Gove over public inquiry over iconic Oxford St flagship store redevelopment June 21, 2022 Marks and Spencer has slammed the housing minister’s decision to hold a public inquiry over a redevelopment plan of its Marble Arch store. The supermarket said it was “bewildered and disappointed” that Michael Gove had chosen to call in its plans to bulldoze the Art Deco flagship store on Oxford St. A public inquiry will [...]
Kellogg to split into three firms as cereal maker focuses on snacks June 21, 2022 Cereal maker Kellogg will split into three independent companies and make its snacks division its biggest focus. The Coco-pops maker said it would spin off its North American cereal and plant-based foods businesses. Names for the three companies are yet to be decided upon. Its snack company – which includes brands including Pringles, Cheez-It, and [...]
Watchdog set to review fees charged by Visa and Mastercard June 21, 2022 The UK’s top payments regulator has set out plans for two wide ranging reviews of Visa and Mastercard’s operations in the UK today amid concerns over soaring card fees.
Cost of living crunch: Shoppers exposed to extra £380 on yearly grocery bill June 21, 2022 Shoppers are now facing an additional £380 to their annual grocery bill as grocery price inflation has hit its highest level in 13 years. According to freshly published data from insight firm Kantar, grocery price inflation hit 8.3 per cent over the past four weeks, the highest level since April 2009. It comes as all [...]
Legal challenge over retail price index changes could cost taxpayer $40bn, analysts warn June 21, 2022 The government could be forced to fork out as much as £40bn in compensation if a legal challenge launched today over the Treasury’s move to recalculate retail prices succeeds, analysts have warned.
Ocado raises £575m as it looks to widen online grocery market share June 21, 2022 Online retailer Ocado has raised £575m in a share placing, rallying extra funds as demand dries up. The London-listed firm announced the placing after the stock market closed yesterday, revealing just hours later that it had met its quota. The placing auctioned off 72.3m shares at 795p — a nine per cent discount to yesterday’s [...]
Tesco Mobile set to introduce EU roaming charges despite initial claims it wouldn’t June 20, 2022 Tesco Mobile have announced they will introduce EU roaming charges from 2023 onwards as telecom giants grapple with a post-Brexit landscape.
Retail chiefs to meet with Treasury amid fears of fading interest in online sales tax June 20, 2022 Top retail bosses will meet with a Treasury minister later this week with the hopes of reigniting government interest in launching an online sales tax and reforming the current rates system. According to a report by Sky News, executives from retail powerhouses including Amazon, Asda, ASOS, Currys and JustEat Takeaway, are to meet with the [...]
Rank Group warns over profits for second time in three months as people stay away from casinos June 20, 2022 Gambling giant Rank Group has warned investors profits will be hit following a "considerably weaker-than-expected" recovery from the pandemic.