Mike Ashley’s Frasers Group snares stake in Australian fashion marketplace as retail swoop continues June 30, 2022 Mike Ashley’s retail empire has nabbed a 29 per cent stake in Australia’s fashion platform MySale. Frasers Group has snared a 28.7 per cent holding in MySale, in its latest retail swoop, it announced on Thursday morning. My Sale puts global buyers in touch with sellers to Australian and New Zealand e-commerce sites. London-listed Frasers [...]
Gazprom and Uniper shares plunge as fallout from Ukraine crisis deepens June 30, 2022 Shares at two of Europe’s largest energy firms have plummeted this week, as the gas crisis and between Russia and the West escalates.
Heinz baked beans and ketchup disappear from Tesco shelves amid price increase row June 30, 2022 Tesco, the country’s largest supermarket, is facing shortages of Heinz baked beans and ketchup after a row over price hikes. The US salad-cream maker has hit pause on supplying Brits’ cupboard staples, with some stores having already run out of products and some unavailable to order online. A Tesco spokesperson said: “With household budgets under [...]
Pace of house price growth slows as average price hits new record of £271.6k June 30, 2022 House prices saw a slight slowdown in growth this month as the price tag of an average UK home hit a new record of £271,613. According to the Nationwide House Price Index, published on Thursday morning, UK annual house price growth slowed to 10.7 per cent in June. This was a subdued pace of growth [...]
Average UK house costs £271,613 as price growth shows ‘tenative signs of slowdown’ June 30, 2022 The pace of UK house price growth slowed modestly last month, with the price tag of a standard home hitting a new record high of £271,613. According to the Nationwide House Price Index published on Thursday, average prices increased by over £26,000 in the past year. The rate of annual growth slowed to 10.7 per [...]
Brits’ disposable incomes fell once more at the start of the year June 30, 2022 Brits’ disposable income tumbled further in the first quarter of the year, according to official statistics. According to the Office for National Statistics, Real Household Disposable Income (RHDI) dropped by 0.2 per cent in the quarter of January to March. While nominal household gross disposable income grew, it was offset by quarterly household inflation. This [...]
H&M warns more price increases could be on the way for shoppers as ‘many challenges’ continue June 29, 2022 The second largest global fashion firm H&M has warned it plans to hike prices even further this year. The Stockholm-based retailer posted pre-tax profit of 4.78bn Swedish crowns ($471m) on Wednesday, surpassing analysts’ expectations. Profit boosted by 33 per cent compared to the same period last year. The buoyant half-year results came after the fashion [...]
Sales at Morrisons drop as supermarket boss cites ‘very fragile’ trading environment June 29, 2022 Supermarket Morrisons has seen sales drop by 6.4 per cent in the second quarter of the year, blaming a “very fragile and difficult consumer environment.” In a trading update for the 13 weeks ending 1 May, the grocer said it had experienced a “very challenging” trading environment with cash-strapped Brits tightening their belts as inflation [...]
Premier Inn-owner Whitbread selects Domino’s Pizza chief to head up hospitality giant June 29, 2022 Premier Inn owner Whitbread has selected Domino’s Pizza boss Dominic Paul as its new chief executive. Paul will leave his role at Domino’s Pizza in December 2022, the pizza chain confirmed on Wednesday. He will step into the shoes of Alison Brittain, who has overseen the historic 280-year-old company over the past six years. Paul headed [...]
Government to review short term holiday lets like Airbnb in tourist hotspots June 29, 2022 The UK government said on Wednesday it was launching a review into short term rentals in popular tourism areas in England, including Airbnbs. Ministers said they wanted to support rental platforms like Airbnb but acknowledged concerns that such businesses could drive communities out of their area – for example if landlords opt to run their [...]
