Rishi Sunak’s ethics adviser ‘would expect approval to investigate ministers’ February 23, 2023 Rishi Sunak’s ethics adviser has said would expect to be given the go-ahead to investigate a minister if he believed there had been a breach of the rules. Sir Laurie Magnus told MPs that while he required the prime minister’s permission to mount an inquiry into alleged violations of the Ministerial Code, he believed it would only be [...]
Explainer: How the Conservatives lost the farmers’ vote February 21, 2023 The Conservatives have lost Britain’s farmers. In December, support for the Tories among farmers dropped to 42 per cent. For the first time in living memory, less than 50 per cent of the farming community said they would vote Conservative if there was an election tomorrow. In December 2021, that number was 57 per cent. [...]
Former City lawyer tasked with reviewing demise of Wasps and Worcester Warriors in Premiership Rugby financial review February 20, 2023 Legal heavyweight Sir Nigel Boardman, a former partner at City law firm Slaughter and May, has been appointed to lead a review of the financial crisis engulfing Premiership Rugby. Boardman, 72, led the government inquiry into the Greensill Capital lobbying row in 2021 and last year called time on a near-50-year stint with the Magic [...]
Mark Kleinman: Hambro Perks, Ray Winstone’s side hustle and IPGL shake-up February 9, 2023 Sky News’ Mark Kleinman is the man the City reads – and in his fortnightly column for City A.M., he shares his insight and analysis. Hambro Perks’ called-off merger spells bad news for the City November 23, 2021 was a landmark day for the London stock market: the unveiling of the first special purpose acquisition [...]
High Street retail race: Marks and Spencer predicted to overtake John Lewis by 2026 February 8, 2023 Marks & Spencer will overtake John Lewis in the rankings of the UK’s biggest retailers by 2026, according to a new sales forecast. Tesco will retain its position as the largest retailer, followed by Sainsbury’s, but Amazon is on track to move into the top three within the next few years, industry title Retail Week [...]
Marks and Spencer’s chairman Archie Norman: Plans to ease post-Brexit trade ‘overbearing and baffling’ January 26, 2023 Marks & Spencer’s chairman has become the latest business leader to criticise the Government’s economic policy, with Archie Norman calling plans to ease post-Brexit trade “overbearing” and “baffling”. Norman, who is also an ex-Conservative MP, has urged the Foreign Secretary during talks with the EU not to consider separate labelling for goods sold in Northern [...]
Slow fashion: Retailers embrace second-hand clothing to draw in thrifty eco-conscious fashion lovers January 23, 2023 High street retailers are following in the footsteps of their online rivals, offering more second-hand clothes to lure in shoppers wanting to steer clear of fast fashion and hunt for bargains amid a cost of living crisis. The second-hand clothing market has exploded over the last decade to an estimated £6.5bn last year, largely thanks [...]
Marks and Spencer shells out £480m as it revamps UK stores in bid to become leading ‘omnichannel’ retailer January 16, 2023 Marks and Spencer (M&S) is to plough nearly £0.5bn into an accelerated UK-wide investment drive which will result in 20 new larger and improved stores across the UK in the next financial year. The retailer also aims to create over 3,400 new jobs whilst providing shoppers with a “seamless” customer experience. M&S said it was [...]
Ocado set to post grocery growth in latest festive update January 15, 2023 Ocado investors will be hoping it becomes the latest retailer to indicate that consumer spending over the key festive quarter was more resilient than many expected. The online retail giant is set to post an increase in grocery sales over the latest period when it updates investors on Tuesday 17 January. The firm’s technology operation [...]
British retailers cheer Christmas sales, but City analysts warn of coming storm January 15, 2023 Britain’s largest retailers kicked off 2023 strongly last week, posting better than expected Christmas sales, signalling the consumer is holding up a bit better than feared. Tesco’s like for like sales were 7.9 per cent higher, while Marks and Spencer pocketed a 7.2 per cent rise. Sainsbury’s also posted record Christmas sales. Those bumper numbers, [...]