Primark owner poaches Marks & Spencer director for top finance job July 21, 2022 Primark owner Associated British Foods has nabbed Marks & Spencer’s CFO Eoin Tonge for its top finance job. Associated British Foods said that its current finance director John Bason will step down from the board, with Tonge stepping into his shoes no later than February 2023. Tonge also holds the position of chief strategy officer [...]
PensionBee eyes profits next year after boom in customers July 21, 2022 Pensions fintech PensionBee said it was on track to hit profitability by the end of 2023 today as it revealed it had boosted its invested customer base by 72 per cent on last year.
Tory leadership race: Truss claims her tax cuts would decrease inflation July 21, 2022 Liz Truss has today claimed her plan to introduce tax cuts worth £30bn+ would “decrease inflation” as she begins her campaign to win over Tory party members and become Prime Minister. The foreign secretary denied claims by economists, and her leadership rival Rishi Sunak, that her tax plans would further fuel the UK’s 40-year high [...]
Marks & Spencer snaps up logistics firm Gist for £145m to take control of food supply chain July 21, 2022 Marks and Spencer has acquired the logistics provider to its food arm for £145m, with the supermarket “taking control of our food supply chain for the first time in our history.” The premium supermarket said on Thursday the acquisition from Storeshield, owned by The BOC Group, would aid its multi-year plan to modernise its food [...]
Regulators call on airlines to comply with consumer law if they want to avoid enforcement July 21, 2022 The Civil Aviation Authority (CAA) and the Competition and Markets Authority (CMA) have warned airlines they could face enforcement action if they fail to comply with consumer law. In a joint letter sent to carriers today, the regulators said they were concerned about consumers experiencing harm “unless airlines meet their obligations” and “minimise flight disruption [...]
Sigh of relief for Londoners as ALL long-running strikes on Night Tube suspended July 21, 2022 Long-running strikes on London’s Night Tube have been suspended. Members of the Rail, Maritime and Transport (RMT) union have been taking industrial action over weekends in a dispute over shifts. “We are pleased that after our strong industrial campaign, we have made significant progress on the Night Tube dispute,” said RMT’s general secretary Mick Lynch. [...]
Scorching inflation sends UK debt interest bill to record-high £19bn July 21, 2022 Scorching inflation has ballooned the UK’s debt interest bill to its highest level since records began in the early 1990s, official figures published today revealed. The amount of money the UK had to pay investors holding government debt in June more than doubled over the last year, topping £19bn, up from £9.1bn in June 2021, [...]
Bitcoin sees pullback overnight, but continues to hold at around $23k July 21, 2022 Bitcoin’s recovery continued yesterday, with the price of the leading cryptocurrency by market capitalisation briefly leapfrogging $24k.
London’s hottest coffee: £50 Bugatti espresso wakes up Mayfair July 21, 2022 Ettore’s Espresso Bar is part of the H.R. Owen Bugatti dealership in Mayfair. For £50, you can enjoy an espresso while ogling a new Chiron.
Ocado losses swell as shoppers add less items to their baskets amid cost of living crunch July 21, 2022 Ocado has posted swelling losses after shoppers have added less items to their shopping baskets following the cost of living crunch and easing of lockdown restrictions. Losses widened to £211m, from £27.9m the year prior, for the six month period to 29 May, as customers tightened their purse strings as inflation surged past new 40-year [...]
