Kim Kardashian hit with £1.12m penalty for crypto social media posts October 3, 2022 Kim Kardashian has been hit with a $1.26m penalty for promoting crypto currency EthereumMax on social media without revealing she had been paid to do so. US federal regulators have charged the reality TV star after she promoted crypto asset security EMAX tokens on Instagram, without revealing that she was paid $250,000 by EthereumMax. Kardashian [...]
Deliveroo hits the streets with West End grocery store October 3, 2022 Online delivery app Deliveroo has opened the doors of its first brick and mortar grocery store on New Oxford St. Shoppers will be able to order groceries through digital kiosks, via the Deliveroo app for collection or home delivery. The Deliveroo HOP shop will be open from 8am to 11pm. The range of 1,750 products [...]
FTSE 100 falls after dramatic 45p U-turn, as pound erases gains against dollar October 3, 2022 The pound pushed higher on Monday morning after the government said it would scrap its planned 45p income tax cut, while the markets dipped in response to the dramatic news. Sterling leapt by as much as one per cent against the US dollar to $1.12 early on Monday morning while teetering back slightly after a [...]
Tortilla anticipates shaved margins as protein prices spike October 3, 2022 Mexican fast-food chain Tortilla has warned it faces a hit to margins this year after meat prices have soared. Inflationary pressures would lead to a three percentage points reduction in gross margin for the 2022 financial year, to the tune of approximately £1.8m, Tortilla said on Monday. The restaurant brand pointed to a 40 per [...]
Exclusive: Second Los Mochis restaurant to open at 100 Liverpool St rooftop October 3, 2022 British Land Land has signed Los Mochis, the Baja-Nihon restaurant, which will open a flagship 14,000 sq ft restaurant on the rooftop of 100 Liverpool Street at Broadgate. CityA.M. can reveal that the Baja-Nihon restaurant will set up shop at 100 Liverpool St at Broadgate, opening in autumn 2023. The new venue follows in the [...]
Burger King inks whopper deal for ownership of 74 restaurants October 3, 2022 Burger King has snapped up a swathe of restaurants from its second largest franchise partner, in its largest ever franchise consolidation. The fast food chain’s UK arm said an indirect acquisition of all 74 restaurants under Karali Limited and Teresina Limited would boost its plans to expand its owned and sub-franchised portfolio. Burger King UK’s [...]
Not a good look: PIRC advisory group scrutinises JD Sports boss’ multi-million pound exit deal October 2, 2022 An influential shareholder advisory group has said JD’s payout to former boss Peter Cowgill is “not a good look” for the sportswear retailer. Former JD Sports’ boss Peter Cowgill is set to receive a multi-million pound payout after making his departure from the sneaker seller. Exit terms include a £3.5m payment over two years for [...]
Made.com posts widening losses after furniture retailer puts itself up for sale September 29, 2022 Online furniture seller Made.com has posted widening losses after consumers slowdown on buying homeware items amid the cost of living crunch. The company posted a loss before tax of £35.3m for the six months to 30 June, versus £10.1m a year prior. Earlier this week, Made said it would conduct a strategic review of its [...]
GoPuff forecasts mass extinction for ‘majority, if not all’ rivals this year September 29, 2022 GoPuff has said its rivals in the rapid delivery sector face mass extinction over the next year, as the app hones in on accelerating UK market share. The Philadelphia-based firm, which was valued at $15bn last summer, has previously said it intends to amp up its focus on the UK as it departs Spain, in [...]
H&M to trim costs by £160m after profit dented by Russia exit September 29, 2022 H&M has said it is looking to slash costs to the tune of £160m after posting weaker than expected quarterly profit. The second largest apparel retailer saw its share price sink by almost four per cent on Thursday afternoon, after revealing a cost-cutting blitz in its third quarter results. For the June-August period, pre-tax profit [...]
