Ladbrokes owner Entain creates new venture to drive Central and Eastern European expansion August 11, 2022 Ladbrokes owner Entain has joined forces with an investment firm to create a new venture to fuel expansion in Central and Eastern Europe. Entertain CEE will drive expansion in the markets, in a partnership with EMMA Capital, with Entain owning 75 per cent of the economic rights. The London-listed firm also announced a takeover of [...]
Asda, Boots and Primark among retailers urging officials to prioritise crime against shop staff August 11, 2022 High street staples including Tesco, Aldi and Primark have signed a letter urging police commissioners to prioritise tackling crimes against shop staff. Some 105 retailers have written to police and crime commissioners in England and Wales, calling for more help with increasing violence and anti-social behaviour towards workers. Reports of abuse towards shop staff have [...]
Cost of living crunch: 1 in 4 shop workers skip meals each month to pay bills August 10, 2022 One in four shop workers are skipping meals each month to meet bill payments, according to research from a trade union. This figure has leapt from 1 in 20 last year, as Britain’s lowest paid workers struggle amid the throes of cost of living crunch, according to a survey by Usdaw union. Inflation is anticipated [...]
Widening losses for Deliveroo while Next chair Lord Wolfson exits board August 10, 2022 Delivery platform Deliveroo has posted a heftier loss while also announcing the departure of Next chair Lord Simon Wolfson from its board. In its half-year results, the London-listed firm posted an adjusted EBITDA loss of £68m, a wider loss than the £26m posted in the first half of 2021. However, it marked an improvement of [...]
Hostelworld eyes operational profitability later this year as travel demand rebounds August 10, 2022 Travel platform Hostelworld has said it hopes to be profitable at an operational level in the second half of the year, as holidaymakers have returned in recent months. In interim results, the London-listed company said net revenue hit €28m in the period, compared to just €2.9m the previous year, as travel restrictions eased. While overall [...]
Carbon labelling on groceries could be on the way for shoppers after new research August 9, 2022 Shoppers might soon have to reckon with the environmental impact of food as well as the health implications, after researchers work out the carbon footprint of certain products. Researchers from Oxford University have used public databases to work out the composition of thousands of foods and their impact on the planet. Scores are calculated on [...]
News Corp nearly doubles profit after online advertising sales and subscriptions soar August 9, 2022 Rupert Murdoch’s publishing giant News Corporation has almost doubled its profit to reach a record $760m. The buoyant results come after a boom in online advertising sales and subscriptions for the owner of titles including The Wall Street Journal, The Australian, The Sun and The Times. Revenue shot up 11 per cent to $9.36bn in [...]
John Lewis chair says lockdown retirees should return to work to tackle economic turmoil August 9, 2022 John Lewis head Dame Sharon White has urged the government to encourage lockdown retirees back into work to avoid stagflation. The retail chief warned that ministers should address labour shortages in order to prevent the economic situation from worsening, in an interview with BBC on Tuesday morning. “There’s not a business in the UK that’s [...]
Coca-Cola HBC acquires Greek bartenders’ mixer firm Three Cents August 9, 2022 Coca-Cola HBC has snapped up premium mixer firm Three Cents for €45m, the global beverage titan announced on Tuesday. The transaction is expected to be completed in the second half of 2022 and is subject to customary closing conditions and regulatory approvals. Three Cents is publicly listed in Greece and was founded in 2014 by [...]
Holiday Inn owner sees group profit more than double after hotel demand returns August 9, 2022 Holiday Inn owner InterContinental Hotels Group has seen group profit more than double versus 2021 after a recovery in demand for travel. The London-listed firm said it was also reintroducing an interim dividend at a level 10 per cent higher than when last paid and launching an initial $500m share buyback. Revenue for the first [...]
