Consumer spending feels the pinch amid Brexit uncertainty January 16, 2019 Enduring political uncertainty was to blame for weak consumer spending over Christmas, according to figures released today. Consumer spending fell by one per cent in December compared to the same month in 2017, research from Visa and IHS Markit reveals, its biggest monthly drop since April. Read more: UK car sales decline for the second [...]
Reckitt Benckiser CEO announces plan to retire at the end of 2019 January 16, 2019 Reckitt Benckiser chief executive Rakesh Kapoor is set to retire at the end of 2019, the firm announced today, leading it to launch a formal search for its next boss. The maker of Nurofen and Clearasil said it is looking at both internal and external candidates to succeed Kapoor, as shares dropped by three per [...]
Greggs’ vegan sausage rolls rise to the occasion perfectly January 15, 2019 The retail industry has had a difficult time recently but shares in high street bakery Greggs have bucked the trend and hit an all-time high, thanks to some ingenious and topical marketing. Greggs used social media and publicity stunts to boost awareness in the brand during its launch of a vegan sausage roll – a [...]
Magic touch: Greene King appoints Merlin exec as new boss January 15, 2019 Brewer Greene King said today that Nick Mackenzie would join as new chief executive in May from Madame Tussauds-owner Merlin Entertainments. Mackenzie will replace Rooney Anand in the top job and join Greene King’s board on 1 May. At Merlin he is a member of the executive committee and is responsible for the Midway portfolio [...]
Netflix shares rise as subscribers face an 18 per cent price hike January 15, 2019 Netflix has said it will be raising the prices of its streaming services for US subscribers by as much as 18 per cent, as the tech giant seeks to cover the costs of ploughing heavy investment into its original content. Prices for its most popular standard viewing plan, which allows users to stream content on [...]
UK betting stocks hit after US Justice Department makes online gambling U-turn January 15, 2019 UK betting stocks have fallen sharply after the US justice department performed a U-turn on its opinion of online gambling laws. The US Department of Justice (DOJ) has reversed its December 2011 opinion that the 1961 Wire Act, banning certain forms of betting across state borders, only applied to online sports betting. UK firms which have [...]
Christmas sales grow at St Pancras International despite retail gloom January 15, 2019 Commuters choosing to do their Christmas shopping at St Pancras International station grew 6.3 per cent in 2018 compared to the year before, according to figures released by the station's operator today. The rise was driven by growing passenger numbers and strong growth in non-food sales, the company said. St Pancras has welcomed a number of [...]
M&S reveals next 17 stores in firing line for closure as hundreds of jobs face the chop January 15, 2019 Marks & Spencer revealed the identity of the latest stores that are earmarked for closure today, as a swathe of sites face the firing line amid a downturn for the beleaguered retailer. As many as 1,000 people could face losing their jobs as part of the latest stage in the company's turnaround plan that will [...]
Shell’s kitchen: Jamie Oliver launches deli range at petrol stations across the UK January 15, 2019 TV chef Jamie Oliver has defended his partnership with Shell as he prepares to launch a new deli range across the oil giant’s service stations. The restaurateur and UN environmental champion said the deal will help him bring healthier food-to-go to more people, despite criticism from groups such as Greenpeace. Read more: Restaurant profits plummet [...]
Gym Group shares down on increased debt predictions after year of site openings January 15, 2019 Gym Group shares were down five per cent this morning as it announced increased net debt in a trading update, despite growing profits and revenues. The listed fitness chain said it expected year-end debt to be £46m, up 22.6 per cent year-on-year from £37.5m, after the £20.6m acquisition of Easy Gym and investment in 17 [...]