Restaurant groups suffer £673m in losses as bosses call for tax relief January 10, 2022 The country’s top restaurant groups saw losses skyrocket in a year, hitting £673m, as bosses have called for more cash to help ailing venues. The top 100 groups saw losses increase 174 per cent in the year to the end of September 2021, according to an analysis of company accounts by accountancy firm UHY Hacker [...]
Morrisons loses ‘use-by’ date to fight food waste January 10, 2022 Morrisons has announced it will lose the ‘use-by’ date from 90 per cent of its milk bottles as a way to better fight food waste. Instead of abiding by the ‘use-by date’, from the end of January the supermarket chain will ask customers to sniff the milk and see if it’s still drinkable, urging shoppers [...]
Race for space: Store shortage hits retailers January 9, 2022 The UK is witnessing a shortage of supply of warehouse space after a surge in demand for logistics sites in 2021, according to new research. Experts at real estate advisory firm Colliers said the take-up for large industrial distribution warehouses increased to record annual levels. Around 50.7m sq ft of large distribution warehouses were snapped [...]
THG on warpath to prove collusion as firm hands City regulator data dossier January 9, 2022 E-commerce firm THG has given a dossier of data to the Financial Conduct Authority (FCA), in a bid to prove hedge funds and stockbrokers conspired to push its share price down. THG chief executive Matt Moulding believes a dossier of irregular stock market trading and short-selling data will prove collusion against his company, according to [...]
Ladbrokes and Coral owner warns stricter gambling rules may encourage ‘black market’ January 9, 2022 Too tough rules on the betting and gambling sector may push individuals towards underground operators, according to the boss behind Coral and Ladbrokes. In an interview with the Sunday Times, Entain CEO Jette Nygaard-Anderson said she feared future regulations could see gamblers encouraged to seek out a “black market” of unlicensed websites. Ministers should strike [...]
Cirque du Soleil sees ‘much more’ momentum than expected after blistering two years January 9, 2022 Cirque du Soleil has seen “much more” post-lockdown momentum than expected, the executive vice chair of the circus group has said, after revenues collapsed amid pandemic restrictions. Revenue plummeted from $1bn to zero in just 48 hours, Daniel Lamarre said, as Cirque returns to London this week – with a show at the Royal Albert [...]
Asda forgoes British beef pledge for cheaper Irish imports January 7, 2022 Asda has ditched its 100 per cent British beef pledge in favour of cheaper, Irish exports, prompting backlash from farmers. The pledge was just three months old before the supermarket chain reeled back on the ambition after prices rose in the UK. “Whilst we continue to work hard to keep prices as low as possible [...]
Buy Now Pay Later firm Klarna claims ‘credit cards pose the real risk’ January 7, 2022 Klarna has claimed credit card providers pose a bigger risk to consumers as Government prepares to clampdown on the BNPL sector.
Online meal maker Gousto raises $150m fresh funding January 7, 2022 Online meal company Gousto has raised a fresh funding led by the Japanese technology investment giant SoftBank.
Sainsbury’s reveals 5.3 per cent pay hike for shop staff in £100m investment January 7, 2022 Sainsbury’s has announced it will be investing £100m into pay increases for staff, with a basic hourly pay of at least £10. Basic hourly pay for Sainsbury’s and Argos store workers will rise to £11.05 for inner London and £10.50 in outer London, the supermarket revealed on Friday. The company said it was also increasing [...]