Private equity-backed Parabis to expand using new Tesco Law August 22, 2012 INSURANCE specialist Parabis has become the first private equity-backed firm to take advantage of the so-called Tesco Law reforms, after winning a licence to use the Alternative Business Structure (ABS) yesterday. Parabis is the 20th company to be granted an ABS licence since the law market was liberalised last year. The company hopes to expand [...]
Tesco faces illegal worker fines August 20, 2012 SUPERMARKET giant Tesco may be hit with fines after the UK Border Agency (UKBA) found it was employing foreign students for more hours than allowed by their visas. Twenty students were arrested in a 3am raid on a Croydon warehouse where employees work on fulfilling internet orders. Tesco faces fines of up to £10,000 per [...]
The cigarette display ban is a smoking gun in the war on free expression August 20, 2012 THERE’S something odd about my local Tesco. Since April, the kiosk at the entrance has looked incredibly dull. As I was recently trying to work out why, I saw a sign saying that all cigarettes and tobacco-related products must now be hidden behind closed doors – to comply with UK regulations. As an economist, I [...]
Supermarkets hold talks with government on Sunday trading August 19, 2012 RETAILERS have been holding discussions with the government and trade bodies over the permanent relaxation of Sunday trading rules, it was revealed yesterday. Current rules limit large shops to six hours of trading between 10am and 6pm on a Sunday. This has been temporarily relaxed during the Olympics and it is thought communities secretary Eric [...]
Discount chains lead sales jump August 14, 2012 GROCERS enjoyed a sunny summer with sales growth almost across the board, but led by discount supermarkets, said analyst Kantar Worldpanel yesterday. Grocery sales at the UK’s main stores grew 3.9 per cent as a whole in the 12 weeks to 5 August, compared to a year earlier, reaching nearly £24bn in total. Though discounters [...]
BLINKBOX SETS UP EXCLUSIVE TV DEAL WITH HBO August 12, 2012 AMERICAN TV network HBO today announced a deal with online streaming service blinkbox, bringing shows such as Game of Thrones (pictured) and Boardwalk Empire to the UK. Users of blinkbox, which was bought by Tesco last year, can watch some shows before their DVD releases. Other HBO favourites include The Wire and The Sopranos.
Post Office to offer mortgages across its local branch network August 9, 2012 POST Office customers will be able to pick up a mortgage alongside their book of stamps, under a pilot scheme launched yesterday. Trained mortgage advisers are now available in five of the organisation’s outlets – Birmingham, Solihull, Walsall, Luton and Norwich – to offer free consultations as part of the firm’s push to become one [...]
Retail industry lays out £500m growth plans August 9, 2012 THE GOVERNMENT yesterday announced some £500m of investment in Britain’s consumer industries, as some of the sector’s largest players laid out expansion plans in the UK and overseas. Speaking at the British Business Embassy’s Retail, Food and Drink summit in London yesterday, Boots chairman Stefano Pessina said the pharmacist will expand its store estate in [...]
BUSINESS OF THE YEAR August 7, 2012 OUR final shortlist for the third annual City A.M. awards is a big one – the Business of the Year. For this category we have looked for strong share price performance aligned to important strategic developments. We have chosen four established companies, along with one rising star in Ophir Energy. Ophir has been one of [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 6, 2012 FINANCIAL TIMES Facebook gambles on real cash with bingo app Facebook is venturing into the world of online gambling with the launch of its first application where punters can take a stake on real money. Starting today, Facebook will offer users in the UK aged 18 and over the opportunity to play online bingo for [...]