Spring Statement 2025: Markets and bonds tread water ahead of ‘testing day’ March 26, 2025 Markets and bonds were relatively flat on Wednesday morning as analysts predicted Rachel Reeves’ Spring Statement would mark a “testing day”. The FTSE 100 had minor gains following market open, with Marks and Spencer leading the index’s biggest risers. The mid-cap FTSE 250 had a slight uptick, led by a surge in retailer Ocado after [...]
Morrisons to cut hundreds of jobs and close cafes in huge shake-up March 24, 2025 Supermarket giant Morrisons has put 365 jobs at risk after it revealed plans to close more than 50 of its cafes. The Yorkshire-headquartered chain said 52 of its cafes, 17 convenience stores and dozens of meat and fish counters at its shops are slated for closure. Morrisons said the closures are part of a “wide-ranging” [...]
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 [...]
Asda’s confident new boss is a boon for shoppers, and a threat to rivals March 19, 2025 Asda's bold new boss may have spooked rivals, but shoppers will come out on top, writes Susannah Streeter in today's Notebook.
Labour’s jobs tax will hit working families hardest March 13, 2025 With less than four weeks to go before Labour National Insurance starts to bite, it’s clear which sectors will be harmed the most: Those that hard-working families rely on, says Mel Stride The clock is ticking. We’re now less than four weeks away from the implementation of Labour’s disastrous jobs tax. But let’s be clear [...]
Boohoo rebrands as Debenhams in shift to a marketplace model March 11, 2025 Boohoo will rebrand to Debenhams as it shifts to a marketplace model to house its brands in the first phase of its turnaround plan. Shares in the company dropped just over three per cent on the news. The Manchester-based company has been struggling with low sales for its youth brands—Boohoo, PLT, and MAN—posting a pre-tax [...]
M&S to invest £95m in staff pay despite higher wage taxes March 5, 2025 Marks and Spencer will invest £95m into higher pay for its retail staff, despite “cost pressures” from the government. From 1 April, the rate of pay for UK Customer Assistants will increase from £12 to £12.60 per hour, up five per cent year on year and up 26 per cent since 2022. It is higher [...]
‘First of its kind’ sustainable skyscraper gets green light from City of London February 11, 2025 Planning permission for an innovative 33-story tower at the old headquarters of M&S has been approved by the City of London Corporation, the latest in a string of top-quality skyscrapers approved in the capital. The building at 70 Gracechurch Street, originally constructed in 1990s as the headquarters for Marks and Spencers, will deliver over 550,000 [...]
Retailers unite to warn Treasury on ‘perfect storm’ of costs February 11, 2025 A heavyweight group of retailers has warned the Treasury that hundreds of thousands of jobs are at risk in the retail sector due to unsustainable cost hikes this year. It’s the latest in a long string of warnings from the retail sector, which has been vocal about the coming damage to jobs and investment on [...]
M&S revamps leadership team in next chapter of transformation February 7, 2025 Marks and Spencer has announced significant changes to its non-food leadership team as it enters the next phase of its turnaround project. Clothing and home director, Richard Price, will be replaced by ex-Boohoo CEO, John Lyttle. Lyttle headed Boohoo for five years, but left last Autumn amid claims of “corporate espionage”, with allegations he was [...]