City Moves: Who’s switching jobs in the Square Mile? June 10, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. BambuBlack Asia Pacific long-only equities boutique firm BambuBlack has strengthened its investment team with a fresh portfolio manager. Pinakin Patel joins the firm in London from Allianz Global Investors in Hong Kong, where he was an investment [...]
Letters: Action, not words June 9, 2022 [Re: Watchdog bans Tesco Plant Chef ads over ‘misleading’ claims, yesterday] Tesco is the latest in a line of household name organisations being criticised for their environmental claims. Many businesses overlook the real business and legal implications that greenwashing can have. Sustainability is a deeply complicated area, and it isn’t purely reputational. Businesses are eager [...]
‘Misleading’: Watchdog bans Tesco Plant Chef ads after lacking environmental evidence June 8, 2022 Adverts for Tesco’s plant-based burgers ‘Plant Chefs’ have been banned for its “misleading” claims about its environmental impact compared to meat. In October and November 2021, Tesco ran ads which featured a woman about to eat while hearing the words on TV about the benefits of the Tesco Plant Chef burger. “The planet is continuing [...]
City veteran John Allan prepares to step down as Barratt chair June 4, 2022 Titan housebuilder Barratt is planning to begin a search for a new chairman, with City grandee John Allan to step down. According to reports by Sky News, Allan, who also chairs the country’s largest supermarket, Tesco, is readying to hand over the reins of the construction giant. Barratt has reportedly asked headhunters at Russell Reynolds [...]
Hatching a plan: Tesco to use 100 per cent British eggs for next five years May 26, 2022 Tesco has committed to use 100 per cent British eggs after signing lengthy contracts with five suppliers. The supermarket giant signed up its main producers to five year deals this week, against the backdrop of challenging market conditions, rising costs of living and inflation. It made the announcement as farmers also face supply chain problems, [...]
M&S warns cost of living crunch will slow sales growth May 25, 2022 Despite posting hefty profits this morning, the luxury retailer M&S warned against upcoming inflationary headwinds.
Cost of living crunch: Grocery price inflation hits highest level in 13 years as households struggle to pay bills May 24, 2022 Grocery price inflation has now hit the highest level since May 2009, with almost a quarter of households saying they are struggling to make ends meet. Supermarket prices have risen seven per cent over the past four weeks, according to the latest grocery sales data published by Kantar this morning. Products to see the sharpest [...]
UK dividends slump to $14.7bn in first quarter after slowdown in special payouts May 24, 2022 UK dividends slumped in the first quarter of the year after a slowdown in frothy one-off payouts that caused an $18.8bn spike between January and March last year.
Shops’ tax bill 755 per cent higher than online rivals amid war of words over sales tax May 23, 2022 Traditional brick and mortar retailers pay 755 per cent more – almost eight times – than their online rivals in business rates tax. The figures come after Sainsbury’s and Marks and Spencer execs have voiced differing opinions over the prospect of an online sales tax. Fresh analysis by real estate advisor Altus Group has found [...]
Which?: Food prices climb a fifth in just two years May 21, 2022 Prices for some of the UK’s most loved grocery items have soared over the last two years, a new study has revealed. Supermarkets have hiked the price of 265 lines by more than a fifth, with Tesco raising the price of household favourtie Kellogg’s Crunchy Nut 21.4 per cent and Sainsbury’s lifting Warburtons’ four-seeded thin [...]