‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Asda-owned Leon cuts hundreds of jobs as work from home trend bites September 17, 2025 Leon has axed hundreds of jobs as it bemoaned a “challenging” year in which it wrestled with high cost inflation and depressed customer spending. The Asda-owned fast-food chain cut its headcount by 17 per cent, or 224, to 1,120 over the course of 2024, its latest accounts show, as it sought to bear down on [...]
City veteran Lord Rose: UK is ‘at the edge of a crisis’ September 9, 2025 Lord Stuart Rose has launched a scathing attack on the government’s economic strategy, claiming the UK is “at the edge of a crisis.” The City veteran told Times Radio: “I think we should all be worried about the state of Britain today. “Now, I am absolutely an optimist in my life. I’ve been working for [...]
Local shops axe jobs and cut investment amid surging costs September 1, 2025 UK convenience stores have cuts 2,000 jobs over an “extremely challenging year” after coming under pressure from soaring labour costs and fierce competition from supermarkets. The Association of Convenience Stores (ACS) warned that pessimistic consumers and increased costs for retailers are therefore putting the UK’s 50,000 local shops under pressure, resulting in weaker investment and [...]
Asda boss slams tax hikes: ‘Businesses have to be allowed to invest’ August 28, 2025 Asda chair Allan Leighton has warned that the Government must change the way it thinks about growth or risk a stagnating economy. Ahead of Asda’s quarterly results – where the grocer reported its fourth consecutive quarter of improving like-for-like sales – Leighton said that the company has a “simple philosophy… if you want growth, you [...]
Asda faces another hefty fine for selling expired food in stores July 16, 2025 Supermarket giant Asda has been given a huge fine for selling expired food in two stores, its second such fine in three months. Repeated checks by Trading Standards officers discovered expired items contrary to food safety codes at its Leckwith and Pentwyn branches in Cardiff. The TDR-owned grocer was then fined £640,000 for selling 115 [...]
Asda loses £600m amid major turnaround plan June 25, 2025 Asda slumped back into the red after losing almost £600m in 2024 despite its total sales rising by more than £1bn, it has been revealed. The Leeds-headquartered supermarket giant has posted a pre-tax loss of £599m for its latest financial year, having reported a pre-tax profit of £180.3m for 2023. The profit in 2023 came [...]
Sunny spring boosts grocers as Brits buy 2,400 packs of strawberries every minute June 24, 2025 The UK’s unusual burst of sun boosted purchases of fruit and ice lollies this spring, although food inflation continued to soar at the UK’s grocers. Higher prices for fresh meats, chocolate and butters drove food inflation to 4.7 per cent, its highest level since February 2024, according to data insights group Kantar. But Fraser McKevitt, [...]
Morrisons boosts sales amid looming ‘trolley wars’ June 19, 2025 Supermarket giant Morrisons has posted an increase in sales as it works to offload debt and compete in an ever-tougher sector. Like-for-like sales rose 3.9 per cent in the second quarter of the year, while total sales grew 4.2 per cent to £3.9bn. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) increased 7.2 per [...]
Tesco is tightening its grip on the UK supermarket crown June 12, 2025 Tesco has boosted market share again as it outperforms peers in the ever-more competitive UK grocery space. In its first-quarter results this morning, the supermarket giant reported a 5.9 per cent uplift in food sales and a 6.2 per cent rise in home and clothing sales. Tesco now has 28 per cent of the UK [...]
Tesco: Supermarket giant widens market share amid price war June 12, 2025 Supermarket juggernaut Tesco delivered an upbeat trading statement for the first three months of the year as the price war in the competitive UK grocery market rumbled on. Food sales at the grocer were up 5.9 per cent year-on-year led by a strong performance in fresh food. Meanwhile, non-food sales climbed 6.2 per cent after [...]