Marks & Spencer’s CFO urges Chancellor Rishi Sunak to firmly reject online sales tax May 19, 2022 Marks and Spencer has reportedly warned the Government that an online sales tax would do more harm than good for the high street. In February, the Government launched a consultation into possibilities for an online sales tax to ease the business rates burden on high street stores. In a letter to Chancellor Rishi Sunak, reportedly [...]
From Boxpark to Punch Pubs: Cash influx for leisure sector as UK private equity deals double in just one year May 16, 2022 The number of UK private equity deals for companies in the leisure sector has more than doubled from 12 to 26 in the past year, according to research by one of the City’s biggest law firms. Private equity funds are taking the opportunity to pick up assets at comparatively low prices ahead of the leisure [...]
Post-pandemic expansion push for Screwfix as DIY giant goes on hiring spree for 800 people to staff 80 new UK stores May 16, 2022 As part of plans to open 80 new shops across the UK and Ireland, home improvement business Screwfix said this morning it is to create 800 retail jobs by January. The retailer’s sales were boosted during the pandemic as locked-down Britons hired tradespeople to spruce up their properties and gardens. Screwfix and B&Q owner Kingfisher [...]
Generation AI: Breakthrough for automation as robot ‘chef’ in Cambridge can taste food at different stages of the chewing process May 11, 2022 A robot “chef” has been trained to taste food at different stages of the chewing process to check if it is salty enough, imitating a similar process in humans. The University of Cambridge researchers suggest their results could be useful in the development of automated or semi-automated food preparation by helping robots to learn what [...]
Retail reality check: High Streets have too many shops which cannot all be saved, says retail guru Sir John Timpson May 7, 2022 Retail giant Sir John Timpson said there are too many shops in most towns and there needs to be more variety on the high street. Sir John, the chairman and owner of Timpson, a UK shoe repair chain with over 2,000 outlets, called for more choice in town centres. “We’ve got to look to the [...]
UK retail investors hold their nerve despite rising inflation, commodities and Ukraine war raging on May 5, 2022 UK retail investors have remained composed in the face of the Russia-Ukraine conflict, despite significant concerns about future implications of the crisis on the financial markets, international relations, and the environment. Only 14 per cent of investors monitor the conflict between Russia and Ukraine when thinking about their investment strategy. The same number said they [...]
Let Brits pick value brands over own-branded products to beat cost of living crisis, Cabinet minister suggests May 4, 2022 A Cabinet minister suggested shoppers could choose value brands to help cope with rising food prices. Environment Secretary George Eustice told Sky News that rising fertiliser and feed costs had hit the farming industry, partly as a result of soaring energy prices. “The better news is that we have a very, very competitive retail market [...]
Boardroom Diversity supported by eToro May 3, 2022 | City Talk eToro, the social investing network, has launched a new FemaleLeadership Smart Portfolio which features US publicly quoted companies with diversity at boardroom level, especially featuring women in positions of board members. eToro’s Deputy CEO and Global Chief Operating Officer (COO), Dr. Hedva Ber, says: “Female leadership and boardroom diversity have proven advantages, not just for [...]
John Lewis planning to lure hundreds of engineers as it plots big retail push online May 3, 2022 Retail giant the John Lewis Partnership is zooming in further on its online operations as it is planning to recruit for more than 150 roles in engineering and delivery driving. John Lewis, which also owns Waitrose supermarket, said its recruitment drive will help grow its online stores, which together have more than 55m visits a [...]
Exclusive: Half of Londoners aged 75+ wish they were better prepared for retirement May 1, 2022 Almost half (49 per cent) of all Londoners aged 75 and older wish they had been better financially prepared for their retirement, according to new figures shared exclusively with City A.M. At the same time, 45 per cent of Londoners between the ages of 45 and 65 do not have a clear idea as to [...]