Moneysupermarket acquires cashback platform Quidco October 19, 2021 Moneysupermarket.com has agreed to acquire the cashback website Quidco. Moneysupermarket.com Financial Group has agreed to buy all of the issued share capital of Maple Syrup Media, trading as Quidco, on a debt-free, cash-free basis. The initial consideration is £87m in cash with a further £14m deferred. Moneysupermarket.com said Quidco would benefit from its capabilities, including [...]
McBride warns for first-half loss as cleaning giant battles soaring prices October 19, 2021 Household cleaning products firm McBride has warned it expects to sink to a first-half loss as it battles to offset soaring prices due to the supply chain crisis. The group, which is behind many supermarkets’ own-brand cleaning products, said raw material and packaging prices have ramped up faster than expected, while freight and distribution costs [...]
Asda to hire 15,000 workers as first Christmas delivery slots become available today October 19, 2021 Asda said this morning it is seeking to recruit 15,000 workers to help the supermarket giant with the busy Christmas period. It will be hiring the temporary workers for a raft of roles including in its stores, depots and home delivery service. About 500 roles will be based in depots, 1,500 in home delivery roles, [...]
Brexit: Drop in UK-EU trade hits smaller businesses as they are forced to shun exports October 19, 2021 A fall in trade between the UK and EU shows UK small and medium sized enterprises are increasingly shunning EU exports. The latest data from the Office for National Statistics shows a second consecutive monthly fall in trade, with the effects of Brexit and the global pandemic resulting in the total exports of goods, excluding [...]
Betting firm 888 revenue jumps thanks to market expansion October 19, 2021 Online betting and gaming giant 888 Holdings said its group revenue rose in the third quarter, hitting $229.9m, thanks to its expansion. Revenue increased seven per cent to $229.9m (£166.9m) in the three month period ending September 30. In the same period last year, revenue hit $215.6m (£156.53m). Casinos led strong performance in the group’s [...]
Drink up for £6 in London: Price of a pint of beer to jump by 30 pence October 19, 2021 The price of a pint of beer is reportedly set to jump by 30 pence even before any duty increases are announced in the Budget as rising costs are passed on to consumers. More than eight in 10 pubs have raised prices or plan to do so because of rising costs, including those caused by [...]
Travel rules mean London is ‘very uncompetitive’ tourism prospect October 19, 2021 The government must tweak its international travel rules in order for high-end London hotels to recuperate after the pandemic, according to one trade leader. London is currently “very uncompetitive” in the international tourism market, Joss Croft, boss of trade body UKinbound, told CityA.M. While changes to allow travellers arriving in the UK to test with [...]
Exclusive: City investors know regulation is on the horizon for buy now pay later firms October 19, 2021 The Buy Now Pay Later sector (BNPL) has seen a surge of activity since the start of the pandemic as consumers turned to online shopping and welcomed the option to purchase trending items of clothing, beauty products and other goods without parting with all of their cash up-front. More and more BNPL options, including Klarna [...]
Tesco opens new check-out free store October 19, 2021 Tesco has launched GetGo, its first checkout-free store in central London. The new store trial will allow customers to shop and pay without scanning a product or using a checkout. It is rolling out the technology to Tesco Express High Holborn. Customers with the Tesco.com app will now be able to check-in, pick up their groceries walk straight [...]
Caffé Nero to expand coffee shop network as it nears pre-Covid sales October 18, 2021 Caffe Nero is set to expand its network of coffee shops with “dozens” of new stores over the next year, as its sales climb towards pre-pandemic levels. The café chain has been making headway with its post-Covid-19 recovery, hailing it being cash positive for the past 11 months in its latest trading update. Nero sales [...]