Aldi raises warehouse workers’ pay for second time August 15, 2022 Aldi will boost warehouse workers’ pay by up to nine per cent in a bid to help their staff cope with the rising cost of living. This means that warehouse selectors, who make up a majority of distribution centre roles, will receive a new minimum rate of £12.66 an hour. The company said yesterday that [...]
Loeb unveils fresh Disney stake and pushes for ESPN spin-off August 15, 2022 Daniel Loeb’s activist hedge fund Third Point revealed a new position in Disney today and began agitating for a raft of changes, including spinning off cable sports channel ESPN and announcing new share buybacks. The stake marks a reversal by billionaire Loeb who liquidated a previous position in Disney during the first quarter. “Our confidence [...]
Cartier owner Richemont calls for shareholders to block LVMH rival from joining board August 15, 2022 Cartier owner Richemont called for shareholders to snub the appointment of former LVMH executive Francesco Trapani to the board this morning, calling out his close connections to firm’s biggest rival. Calling him an “inappropriate” candidate, Richemont chairman Johann Rupert said in a letter to shareholders: “He is not independent, as he has a long history [...]
Hospitality sector sounds alarm bells: Pub and restaurant closures loom as energy bill jumps of 300 per cent August 15, 2022 There will be mass closures without urgent support on soaring energy prices, pubs, restaurants and music venue leaders warned the Government today. Industry bodies UK Hospitality, Night-Time Industries Association, Music Venue Trust, The British Institute of Innkeeping and The British Beer and Pub Association, have written to the prime minister, Boris Johnson, the Chancellor, Nadhim [...]
HelloFresh remains cautiously optimistic for year as it passes price hikes onto customers August 15, 2022 HelloFresh this morning said it was “cautiously optimistic” about the second half of the year as the company grapples with soaring prices. For the second quarter, the meal kit maker confirmed its previously-released figures, which showed that revenue for the three-month period rose to €1.96bn from €1.56bn. Hellofresh topped expectations, delivering 557.1m meals in the [...]
Joules names former Compare the Market CEO Jonathon Brown as new chief August 15, 2022 British lifestyle brand Joules has announced former Compare the Market chief Jonathon Brown as the group's new CEO.
Travelodge opens budget luxe London Docklands hotel as it eyes up hundreds of new sites in the city August 15, 2022 Travelodge has opened its first new-build budget luxe hotel in London Docklands, marking a vote of confidence in the capital as a tourist hub. The London Docklands Travelodge, which is located by East India DLR station, was officially opened by Travelodge chief Jo Boydell and UKHospitality chief Kate Nicholls. At the opening, the hotel giant [...]
Bourne Leisure founders on cusp of £300m Butlin’s buy back August 14, 2022 The family behind one of the UK’s biggest leisure empires is on the cusp of taking back control of Butlin's in a £300m-plus mega deal.
Kick Game calls in PwC as firm weighs up £150m sale August 14, 2022 Trainer reseller Kick Game has called in City big dog PwC to help advise the company on a potential £150m sale.
Zalando chief cuts marketing rather than jobs as the retailer battles inflationary pressures August 14, 2022 European fashion giant Zalando chief has said the company is turning to marketing cuts rather than job cuts as the sector grapples with a consumer spending slowdown.