Just Eat Takeaway shareholders back Grubhub deal but reject US chief’s pay October 7, 2020 Shareholders of online food delivery giant Just Eat Takeaway have approved its proposed $7.3bn (£5.6bn) acquisition of US rival Grubhub, but rejected a pay package for the company’s US chief executive. The group agreed to buy Grubhub in June in an all-share deal that would make the combined group the biggest food delivery company outside [...]
Nicola Sturgeon slaps indoor booze ban on Scotland October 7, 2020 Nicola Sturgeon has banned the sale of alcohol indoors in Scotland’s hospitality venues for 16 days in a bid to curb a second spike in Covid. From Friday, hospitality venues will only be able to open indoors between 6am and 6pm, and will not be able to serve alcohol in these settings. Hospitality venues in [...]
Greene King to close pubs as 10pm curfew cripples sales October 7, 2020 Pub chain Greene King is preparing to permanently close 26 sites, putting hundreds of jobs at risk of redundancy, due to a sharp drop in sales exacerbated by the 10pm curfew on hospitality venues. It has launched a consultation process with 800 employees over the potential job cuts, Sky News reported. The company is seeking [...]
Get the Keirs in? Starmer calls for review of 10pm curfew October 7, 2020 Sir Keir Starmer has called for the government to review its 10pm curfew on pubs, restaurants and bars if it cannot provide any scientific evidence for its effectiveness. The Labour leader said at Prime Minister’s Questions (PMQs) today that parliament and the public “deserves to know” if there is a scientific basis for the restriction [...]
Frasers Group launches charm offensive to boost reputation over treatment of staff October 7, 2020 Mike Ashley’s Frasers Group today launched a charm offensive against shareholders and the City over the firm’s treatment of workers, which has previously been the subject of intense scrutiny. Speaking at this morning’s annual general meeting, non-executive chairman David Daly said the firm’s elevation strategy, which has seen it target a high-end retail reputation, also [...]
Mike Ashley’s Frasers Group urges investors to back employee bonus scheme October 7, 2020 Mike Ashley’s Frasers Group has urged shareholders to back an employee bonus scheme, which would require the retailer’s share price to triple before workers receive a payout. Ahead of this morning’s annual general meeting, the firm, which has come under fire recently over reports that staff were asked to work while on furlough, called on [...]
Tesco sees profit drop despite surge in lockdown sales October 7, 2020 Tesco’s operating profit fell 15.6 per cent in the first six months of the year in new chief executive Ken Murphy’s debut set of results. Profit at the supermarket dropped from £1.23bn to £1.04bn, with a jump in sales due to the coronavirus pandemic weighed down by a hefty loss at Tesco Bank. On a [...]
See A Film Out To Help Out: Five ways to save the film industry October 7, 2020 In this uncertain and unnerving year, there seems to be little light at the end of the tunnel, particularly for people working in the UK’s film industry. This week, Cineworld confirmed its plans to place all of its own cinemas and those of its Picturehouse brand in an unprecedented winter hibernation — meaning the loss [...]
Consumers expect free delivery amid online shopping boom October 6, 2020 Consumers expect free delivery when buying items online, new research has shown, amid a surge in internet shopping due to the coronavirus pandemic. A survey of 2,000 UK adults found that delivery services have risen up shoppers’ agenda since the outbreak of the pandemic, with Amazon Prime the standard to which other retailers are held. [...]
Mike Ashley faces shareholder showdown over re-election as Frasers boss October 6, 2020 Mike Ashley is facing a shareholders revolt at the Frasers Group annual general meeting tomorrow, following claims that employees were forced to work while furloughed during the coronavirus lockdown. Shareholder advisory service Pirc has recommended that investors oppose Ashley’s re-election as chief executive of the retail group, which was formerly known as Sports Direct. The [...]