Amazon hikes average starting wage to just over $18 per hour in the US September 14, 2021 Amazon has increased its average starting wage in the United States to more than $18 an hour and plans to hire another 125,000 warehouse and transportation workers. Watch the full report.
Gousto to double its London tech workforce with 250 new hires September 14, 2021 Gousto has announced a hiring spree to fill 250 tech roles as the meal kit company plans to double its London tech team. The company said its recruitment drive will mean its tech team will be 500-strong by the end of 2022. Gousto recorded its first full year of profitability, since launching, earlier this year [...]
Amazon to recruit additional 125,000 US workers September 14, 2021 Amazon has announced plans to recruit an additional 125,000 workers in the US. The ecommerce giant has also increased its average starting wage to more than $18 an hour. Workers in some locations will receive signing bonuses of $3,000, triple what the company was offering four months ago. Amazon will maintain its $15 an hour [...]
Nike shares fall as footwear giant could lose production of 160m pairs of shoes September 14, 2021 Nike is at risk of losing the production of 160m pairs of shoes after the shutdown of factory operations in Vietnam due to Covid. Nike shares were down 2.5 per cent on Tuesday morning after the sportswear giant was downgraded from neutral to buy at BTIG. Manufacturing in the country was paused in July after [...]
Hot under the collar: Ocado pins revenue tumble on warehouse fire September 14, 2021 Online supermarket Ocado has pinned a revenue dive over the last quarter on a fire at one of its London warehouses, in its latest trading update today. The fire, at its south London Erith Customer Fulfilment Centre in July, cost Ocado some £35m in revenue, it said in a statement – the equivalent of 300,000 [...]
CDR agrees pensions deal with Morrisons as takeover nears September 14, 2021 Private equity house Clayton, Dubilier & Rice (CDR) looks to have shored up its grip on takeover target Morrisons after coming to an agreement with trustees over the supermarket’s pension schemes. The supermarket has been at the heart of a bidding war between CDR and fellow private equity firm Fortress, with the former agreeing a £7bn [...]
Tesco launches zero-waste trials in stores September 13, 2021 Tesco has launched zero-waste shopping trials at ten stores where customers can buy goods in reusable packaging so they can be returned and used again, in partnership with Loop, a waste management company. Customers shopping in the ten Tesco stores, all in the east of England where the initiative is being tested, will be able to [...]
Sainsbury’s to close all stores, Argos and Habitat on Boxing Day as a ‘thank you’ to its 170,000 employees September 13, 2021 Sainsbury’s, Britain’s second-largest supermarket chain will keep all of its supermarkets, convenience stores and petrol filling stations shut this Boxing Day as a “thank you” to its roughly 170,000 colleagues. Sainsbury’s added that all its Argos and Habitat stores will also remain shut for the day. The decision follows rivals including Morrisons, Waitrose and Marks [...]
Exclusive: Tax benefits turn luxury watches into investment asset as imports swell to £500m September 13, 2021 A new audience of buyers of luxury watches is increasingly taking the market by storm as they view watches that contain precious metals as a stand-alone investment asset. The value of premium luxury watches imported into the UK increased 43 per cent in the last decade, with £488m worth of imports last year alone, compared to just £276m [...]
ABF pins ‘lower than expected sales’ at Primark on summer pingdemic September 13, 2021 Sales at Primark, a subsidiary of Associated British Foods, have dipped below expectations in the last year, as Gen Z shoppers move away from fast fashion brands. In its pre-close trading update for the full year to 18 September, Associated British Foods (ABF) said: “We have seen a significant improvement in trading as the period [...]