Man United owner Ratcliffe sees fortune plummet £6.5bn May 16, 2025 Manchester United co-owner Sir Jim Ratcliffe has seen his fortune plummet by £6.5bn in just one year. The latest edition of the Sunday Times Rich List sees the Brit drop to seventh with an estimated wealth of £17bn, down £6.47bn on his fortune last year. He’s been jumped by Sir James Dyson, Israeli businessman Idan [...]
Zara boss calls for crackdown on fast-fashion tax loophole May 9, 2025 The head of Zara’s parent company has called for a US-style crackdown on shipments of small goods in Europe to “level the playing field” between Chinese and European firms. Chinese giants Shein and Temu have heavily disrupted the global fashion market in the last few years, putting pressure on older companies. Part of their meteoric [...]
City broker backs Kingsmill merger with Hovis May 6, 2025 A “merger of equals” between Kingsmill and Hovis may be necessary for the turnaround of both businesses, a City broker has said. Kingsmill-owner ABF confirmed this morning that it was exploring a merger with Hovis as one of several options for its bakery arm. ABF said the talks had been prompted by a “very challenging” [...]
Kingsmill-owner ABF confirms merger talks with Hovis May 6, 2025 Kingsmill-owner ABF has confirmed it is in talks to merge with Hovis in what would become Britain’s biggest bread maker. ABF said the talks had been prompted by a “very challenging” market for its products. Rising prices of wheat and lower demand for high-calorie goods like bread have made it tougher to make a profit [...]
Breadmakers Hovis and Kingsmill in merger talks May 3, 2025 The owners of two of Britain’s biggest bread producers – Hovis and Kingsmill – are reportedly in discussions regarding a merger between the two firms as challenges deepen for the market. Associated British Foods (ABF), the owner of Kingsmill’s parent company Allied Bakeries, and investment firm Endless, which owns Hovis, are in talks about a [...]
ABF weighs closing Yorkshire plant after accusing government of ‘undermining’ viability April 29, 2025 More than 100 jobs could be at risk after the owner of a Yorkshire bioethanol plant said it was considering shutting down the facility, blaming the move on the government “undermining” its viability. The Salt End, Kingston upon Hull-based plant, which is operated by Vivergo and employs around 150 staff, has swung to a loss [...]
What’s next for Primark after shock CEO resignation? March 31, 2025 The surprise resignation of Primark’s boss, Paul Marchant, due to poor social conduct has caused shockwaves across the retail industry. Marchant’s departure was promoted by an investigation by Primark’s owner ABF into the CEO’s behaviour towards a female individual, which Marchant called an ‘error of judgement’. Chief executive of ABF, George Weston, said he was [...]
Primark boss resigns after investigation into social conduct March 31, 2025 Primark boss Paul Marchant has resigned after an investigation into his behaviour by Primark’s parent company ABF. ABF’s share price fell nearly four per cent after the announcement. ABF Finance Director Eoin Tonge will act as Primark chief executive on an interim basis, while ABF Group Financial Controller Joana Edwards will act as interim ABF [...]
Bloomsbury: Fiction sales boost Harry Potter publisher March 20, 2025 Harry Potter publisher Bloomsbury said its sales last year were ahead of market expectations and driven by success in its consumer division. Analysts had expected the firm to report a revenue drop of two per cent to £333.4m, as well as a twenty per cent drop in profit before tax of £39.6m in the year ending February [...]
Labour MPs warned ‘perfect storm’ of retail costs could benefit Reform UK March 19, 2025 Labour MPs are being warned a “perfect storm” of costs facing the retail sector could see seats lost to Reform UK. New analysis from the Retail Jobs Alliance (RJA) has revealed Labour holds 24 of the UK’s 30 constituencies with the highest numbers of voters working in retail, according to an Electoral Calculus survey in [...]