Frasers slams ‘nonsense rumours’ over Harvey Nichols bid Retail The boss of Frasers has hit back at “nonsense rumours” that retail brands are reluctant to work with the group, which is known for making aggressive plays to take control of rival companies. The group, which owns Sports Direct and Flannels, gatecrashed the auction to buy luxury department store Harvey Nichols last week, despite some [...]
Senior exec layoffs surge as firms brace for major employment law change Business Senior exec exits from top businesses have surged since the start of the year as firms quietly clear out highly-paid staff before fresh costs associated with the Employment Rights Act changes come into force. Law firms have seen a “massive uptick in inquiries” from top staff exploring their legal options after being told they face [...]
M&S chair: Tax and employment costs holding back Britain Retail Rising taxes and employment costs are holding businesses back from investing in Britain and helping it “prosper,” an M&S boss has said. Archie Norman, chairman of the retail giant and former chief executive of Asda, told shareholders on Tuesday that these “big regulatory headwinds” are “not making it easier to invest and prosper in Britain”. [...]
Franco Manca and Real Greek owner slumps to £14m loss as boss quits June 24, 2026 The owner of Franco Manca and Real Greek slumped to a £14m loss shortly after it its boss quit in the wake of a swathe of restaurant closures. Private equity firm Fulham Shore was hit by a £14.2m loss before tax in the year to March 2025, Companies House filings have revealed, nearly triple its [...]
Would a £10bn VAT cut really save hospitality? June 20, 2026 Calls for the government to slash VAT on hospitality firms have been backed by pub and restaurant bosses, and Prime Minister hopeful Andy Burnham. What would this tax break really mean for the economy? The UK’s pubs, hotels and restaurants say they are at breaking point. Higher business rates, hikes to national insurance and minimum [...]
Matalan kicks off turnaround under new boss as retailer slashes jobs June 17, 2026 Matalan’s new boss has kicked off the fast fashion retailer’s wide-range turnaround which has revamped dozens of stores but caused the loss of more than 600 jobs. Henrik Nordvall, who took the reins as chief executive in November, said he is “encouraged by the progress already underway” as the clothes seller pushes to renew its [...]
‘Fantasy land’: AO World boss blasts Labour over employment costs June 17, 2026 The boss of AO World has hit out at the government after it shifted hundreds of jobs to South Africa in a bid to dodge soaring employment costs. John Roberts, chief executive of the electrical retailer, claimed the UK’s political class lives “in an economic fantasy land” and blasted Labour for forcing his company to [...]
Specialist tech recruiter sees hiring slump across UK and Europe June 16, 2026 A specialist recruiter in science, technology and maths has posted a slump across its UK operations as the hiring market continues to cool. Workforce consultant SThree recorded a 19 per cent drop in net fees across the UK, which refer to costs paid by an employer to fill a vacancy. Total takings in the UK [...]
Government should fix ‘stubbornly weak’ growth with policy test, industry body argues June 15, 2026 The British Chambers of Commerce (BCC) is calling on the government to break decades of low economic growth by introducing a new delivery test, as businesses continue to slash investment under the burden of mounting costs. In the BCC diagnoses, the UK’s growth problem is not a lack of potential but a failure to turn [...]
Jobs slump as economy ‘held up by uncertainty’ June 8, 2026 The UK jobs market has been handed another blow as businesses ditch permanent hires as the economy battles against domestic and international uncertainty. The latest jobs report from KPMG and REC, the professional body for recruiters, showed hiring for permanent places dropped to a reading of 44.1 in May, which sits below the neutral 50 [...]