Unilever pledges to cut plastic use in half October 7, 2019 Unilever has pledged to halve the amount of new plastic it uses over the next five years by increasing its efforts in producing reusable and recyclable packaging. The consumer goods giant, which owns brands such as Dove and Ben & Jerry’s, said it will reduce its use of plastic packaging by more than 100,000 tonnes [...]
Angling Direct records 21 per cent rise in H1 sales October 7, 2019 The UK’s largest fishing retailer Angling Direct has defied High Street trends by recording a significant rise in first-half sales. Angling Direct recorded £26.6m of sales in the six months to September, which represented a 21 per cent annual increase. Read more: Angling Direct pushes ahead with expansion plans This was underpinned by a 41 [...]
Oh (dough) balls: Twitter’s scared Pizza Express will fold like a calzone October 7, 2019 Pizza Express fans were thrown into panic today following reports the restaurant chain has called in financial advisers over its mounting debt pile. The firm has hired advisers from Houlihan Lokey ahead of talks with creditors, while a group of secured bondholders has tapped Perella Weinberg Partners, Bloomberg reported, citing people familiar with the matter. [...]
Ikea to face back tax payment order from EU October 7, 2019 Ikea could be forced to pay millions of euros in back taxes by the end of the year as the European Union competition watchdog cracks down on unfair deals for multinational companies. The European Commission is preparing to complete its probe into Inter Ikea, the brand owner of the furniture store, however the investigation could [...]
Corbyn kicks up fresh row with Ashley October 7, 2019 A new footballing rivalry was formed over the weekend after Jeremy Corbyn took aim at retail tycoon Mike Ashley for his running of Newcastle United. The Labour leader has taken his war on corporate bosses to the football pitch after branding the high street billionaire “a bad owner” and accusing him of self-interest. “[Clubs] are [...]
London remains main target for foreign investment October 7, 2019 London continued to attract more foreign direct investment than any other UK city last year, prompting calls for a wider distribution of funds across the country. The capital attracted 73 per cent of the total 624 projects secured in 2018, according to research by EY and the Centre for Towns. Read more: Five reasons why [...]
Profits plunge at Barclay brothers’ Ritz hotel October 6, 2019 The billionaire Barclay brothers saw profits plunge at The Ritz Hotel in Mayfair, while their casino business also suffered losses. Profit before tax almost halved from £12.8m to £7.9m according to the hotel’s latest financial filings for last year. Read more: Barclay brothers Ritz Hotel casino swings to £11.7m loss The drop in profit came [...]
John Lewis threatens to withhold 20 per cent of service charges October 4, 2019 John Lewis is threatening to withhold up to 20 per cent of service charge to landlords to protest the increase in payment amounts . The department store said it is attempting to reduce costs but has been faced with service charge hikes at some of its shopping centre branches. Read more: John Lewis to axe [...]
Ted Baker shares sink further after £23m loss October 4, 2019 Shares in beleaguered fashion brand Ted Baker plummeted for the second day after the retailer revealed it swung to a loss and warned on future profits. Ted Baker shares are down more than 15 per cent this morning, following a 35 per cent plunge yesterday. Read more: Ted Baker shares crash as retailer swings to [...]
Worst September in eight years for high street sales October 4, 2019 Last month was the worst September on the high street in eight years as sales in bricks and mortar stores plummeted. Total like-for-like in-store sales fell by 3.1 per cent last month from a base of minus 2.7 per cent last year, making it the worst September on the high street since 2011, according to [...]