By: Amber Murray

Retail Reporter Amber Murray is a reporter at City A.M., covering retail, luxury and property stores. Prior to City A.M., she worked as a sub-editor for Fastmarkets and completed a Masters in Financial Journalism at City University. Please get in touch with stories/tips/coffees at amber.murray@cityam.com

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Optimism among UK SMEs rises for third straight year

September 23, 2024

Optimism among the UK’s small and medium-sized businesses has grown for a third consecutive year in a positive sign for the domestic economy, according to fresh data. Around seven in ten SMEs said they felt confident about the future of their company, rising from 67 per cent in 2023 and 65 per cent in 2022, [...]
Pubs face ‘double whammy’ of tax hikes as hundreds call last orders for good

September 23, 2024

Around 50 pubs per month ‘vanished’ from England and Wales in the first half of the year as hospitality struggled with costs and tax rates. The overall number of pubs in England and Wales, including those vacant and being offered to let, fell to 39,096 at the end of the first half of 2024, down [...]
Two of Mike Ashley’s brands face audit problems after payroll data goes missing

September 22, 2024

Two fast-fashion brands at Mike Ashley’s Fraser Group, I Saw it First and Choice, have been affected by audit issues after their payment data could not be verified. Auditors Cooper Parry were unable to verify £7m of wages and salary payments at I Saw It First, according to This Is Money. The fast-fashion brand said [...]
Rolls Royce closes in on European nuclear reactor deals as UK process delayed

September 22, 2024

Rolls Royce is closing in on two deals to build miniaturised nuclear power plants in Sweden and the Netherlands after a successful deal with the Czech Republic announced last week. Rolls-Royce boss Tufan Erginbilgic had warned that the firm would start building small modular reactors (SMRs) in Europe should UK ministers fail to speed up [...]
Consumer confidence sinks as Brits ‘nervously await’ Budget

September 20, 2024

Key future indicators of consumer confidence all sharply fell in September as Brits nervously awaited policy announcements in the Autumn Budget, according to fresh data. GfK’s long-running consumer confidence index fell sharply to -20 in September overall, with all measures – including personal finances, economy and purchase intentions – down month-on-month. “Headline consumer confidence has… [...]
Newriver REIT raises £50m for Capital & Regional bid

September 19, 2024

Local shopping centre owner Newriver REIT has successfully raised over £50m via a share issue to fund its bid of peer Capital & Regional. On Wednesday, Newriver REIT announced a possible cash and share offer for Capital & Regional, which would create a shared property portfolio of £890m. At the same time, Newriver announced the [...]
Next upgrades guidance again as the company welcomes ‘new phase’

September 19, 2024

Retail industry bellweather Next has upgraded its guidance by £15m after sales and growth “exceed expectations”, while it vies for £1bn in profit. The retailer upgraded the profit guidance it issued on 1 August by £15m, to £995m, “as a result of the strength of our full price sales over the last six weeks”. This [...]
Tesco boss Ken Murphy: ‘The AI revolution is upon us’

September 18, 2024

Tesco boss Ken Murphy has said that personalised grocery offers like Tesco Clubcard could “nudge” consumers towards making healthier decisions and that the AI “revolution is upon us” in retail. The Tesco chief executive said that, for example, an AI programme could note someone’s high sodium intake and encourage them to buy lower-sodium and healthier [...]
Fashion brands told to ‘stay on the right side of the law’ amid greenwashing claims

September 18, 2024

Some of the most high-profile fashion brands in the UK have been warned to be clearer on their green credentials by the UK competition watchdog as it clamps down on misleading marketing. The Competition and Markets Authority (CMA) has issued a new sustainability compliance guide for retailers and told 17 brands to review their practices. [...]
Mohsin Issa to step away from Asda as search for CEO continues

September 18, 2024

Supermarket giant Asda has announced that Mohsin Issa will step away from his executive leadership role to focus on his position as sole chief executive of petrol forecourts business, EG Group. Lord Stuart Rose will assume Mohsin’s responsibilities alongside TDR Capital partner Rob Hattrell, the Leeds-headquartered grocer said, while Mohsin Issa will remain a co-owner [...]

Open banking is a growth engine Britain cannot ignore

Carabao Cup: Arsenal and Manchester City tailgaters to be deemed criminals

We road test RDR, Star Wars Outlaws and Fallout 4 on Switch 2

By: Amber Murray

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