Sainsbury’s sales slip in ‘tough’ supermarket environment July 3, 2019 Sainsbury’s sales fell in its latest quarter, the supermarket revealed today, as boss Mike Coupe warned of the consequences of a no-deal Brexit. Like-for-like sales slipped 1.6 per cent year on year for the four months to the end of June while retail sales dropped 1.2 per cent, piling pressue on Coupe after the supermarket’s [...]
CBRE makes £267m swoop for London developer Telford Homes July 3, 2019 Real estate giant CBRE is set to snap up FTSE housebuilder Telford Homes as it plans to cash in on the UK’s growing build-to-rent market. The US property giant has reached an all-cash agreement to buy Telford for roughly 350p per share in cash, valuing the deal at £267m and representing an 11.1 per cent [...]
Erskine May is online – now even you can understand parliament’s arcane rules July 3, 2019 The UK government has allowed the “bible” of parliamentary procedure, Erskine May, to be published online – fully and freely accessible for the first time in the 175-year history of the book. Anyone with an internet connection can now explore the full intricacies of everything that goes on in Westminster, from “Absence, leave of” to [...]
Are labelling rules about designation of origin just a form of protectionism? July 3, 2019 Are labelling rules about designation of origin just a form of protectionism Matt Kilcoyne, head of communications at the Adam Smith Institute, says YES. Loyalty is not won by being first. Nor should it be won by locking out competitors by law. It is won by being best. Brand matters. This is not the case [...]
Amazon to create 2,000 UK jobs in ‘clear vote of confidence’ post-Brexit July 3, 2019 E-commerce giant Amazon will create 2,000 new jobs in the UK this year, as it seeks to up its total workforce to almost 30,000 roles. Amazon said the new positions would include engineers, software developers, data scientists and experts in cloud and machine learning, along with a number of entry-level roles. Of those created, more [...]
Pimlico Plumbers boss calls Boris a ‘great champion for business’ July 2, 2019 Pimlico Plumbers boss Charlie Mullins today defended Tory leadership candidate Boris Johnson as a “great champion for business”. The colourful entrepreneur told City A.M. that he was backing Johnson as the UK’s next Prime Minister, despite taking opposing sides in the Brexit debate. “He’s a fan of business, I know he made that chuck away [...]
Mark Carney warns trade war could ‘shipwreck’ global economy July 2, 2019 Bank of England governor Mark Carney today warned that a trade war could “shipwreck” the global economy. Speaking in Bournemouth today Carney said financial markets had recently experienced a “profound transformation” driven by growing concerns over the impact of rising trade tensions and policy uncertainty. Read more: No-deal Brexit would cost UK £90bn, warns Philip [...]
No-deal Brexit would cost UK £90bn, warns Philip Hammond July 2, 2019 A disruptive no deal Brexit could cost the treasury £90bn – far more than is set aside to cope with such an outcome, Philip Hammond warned today. Speaking in the Commons, the chancellor claimed that leaving the EU without an agreement would cause such a hit to the UK economy the £27bn war-chest created to [...]
Clifford Chance kicks off Magic Circle reporting season with subdued performance July 2, 2019 Clifford Chance became the first Magic Circle law firm to report its 2018-19 financial results today, announcing modest gains in revenue and profit. The firm said revenue for the year to 30 April grew 4.3 per cent to £1.693bn. Partnership profit rose two per cent to £637m and profit per equity partner (Pep) grew one [...]
Ryanair traffic takes off despite Brexit gloom July 2, 2019 Irish airline Ryanair carried eight per cent more passengers on its planes last month, it revealed today. The budget carrier said it served 13.6m passengers, up from 12.6m in the same period last year. It was spread across 78,000 flights. Read more: Wizz Air grows passenger numbers amid route expansion Earlier this year the company [...]