Sainsbury’s: Up to 1,400 jobs could go as overhaul leads to the closure of two depots in Manchester and Essex February 28, 2023 Sainsbury’s has revealed plans to close two Argos depots over the next three years as part an overhaul that expected to impact more than 1,400 jobs. The supermarket giant has confirmed it is aiming to shut its Argos warehouse in Basildon, Essex, and a depot in Heywood, Greater Manchester, by 2026. It said 1,400 jobs [...]
FTSE 100 close: Ocado drags London premier index into red as pound strengthens after Sunak clinches Brexit deal February 28, 2023 London’s FTSE 100 lost ground again today, held lower by middle class favourite and online supermarket Ocado tumbling after it said losses have widened. The capital’s premier index fell 0.74 per cent to 7,876.29 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, was broadly [...]
B&M to close four more stores but warns it has ‘nothing to do’ with diminishing high street February 28, 2023 B&M is closing more stores across Britain in the coming weeks, however the discount retailer has warned that it is “nothing to do with the diminishing highstreet”. The retailer, which sells home goods and electronics, will close four stores in total across the UK – having previously announced the closure of two sites. According to [...]
Dalata Hotels’ share price soars after its revenues reach new highs February 28, 2023 Dalata Hotels have seen its share price soar 6.5 per cent this morning at 367 pence after the group saw its revenues reach their highest level since formation. The Irish hotel chain, which launched in 2007, saw its revenues reach €500m (£440m) for the first time since trading in FY22 , as the group continues [...]
Government subsidies for Octopus’ Bulb takeover unlawful, rivals tell court February 28, 2023 The government granted unlawful subsidies to Octopus Energy to take over collapsed energy supplier Bulb - rivals told a major court.
Why gender parity is still 70 years away despite two thirds of FTSE 350 company boards comprising of women February 28, 2023 The UK claims to be a world-leader for women’s representation on top company boards, with data revealing that 40.2 per cent of FTSE 350 board positions are now held by women. The findings were part of a report by the Government-backed FTSE Women Leaders Review, which is sponsored by Lloyds Banking Group and KPMG. Adopting [...]
Renters’ protection on the cards as competition watchdog launches probe into housing malpractice and land ‘banking’ February 28, 2023 Housing tenants could be given extra protections and housebuilders forced to change their practices, the competition watchdog has warned. The Competition and Markets Authority (CMA) has announced a probe into the building and rental sectors, saying it would “need to find” any competition issues that might be holding back house building in the UK. “The [...]
Santander shares soar five per cent as lender bets on Europe to boost pay-outs and ‘ambitious’ profit targets February 28, 2023 Santander plans to return half its profits to shareholders after announcing “ambitious” profitability targets for the next three years. The Spanish banking giant said it was betting on customer growth and higher interest rates in Europe to boost its revenue. Santander has previously relied on its Latin American presence to offset the tough conditions experienced [...]
Explainer: Michael Gove’s plan for a new Conservative party February 28, 2023 If there’s one person who knows a thing or two about the Conservative party, that’s Michael Gove. Having covered senior positions in several different departments, and developed long-lasting policy in areas from farming to housing, he was well positioned to outline a vision for the “renewal” of his party earlier today at the centre-right think [...]
Britcoin could ‘open a new frontier’ in payments, says BoE official February 28, 2023 A central bank digital currency (CBDC) could “open a new frontier” in payments and even make the financial system more stable, the deputy governor at the Bank of England said today. Speaking to MPs at a Treasury Committee hearing, deputy governor Jon Cunliffe said a so-called digital pound “could have huge benefits for the economy [...]
