The Week Ahead: Look out for GDP data, Ocado, AstraZ, Twitter and Ted Baker February 8, 2021 Start your week informed: here are the announcements and results to look out for this week. UK GDP: A double dip recession is looming After a fairly decent third quarter, and an expansion of 16 per cent, the UK economy has had a much more troubled fourth quarter, with the likelihood that we may well [...]
UK supermarket chiefs call for online sales tax on firms like Amazon February 8, 2021 Some of the UK’s largest retailers, including Tesco and Asda, have called for Rishi Sunak to “rebalance the tax base” between online and bricks and mortar retail in an apparent push for a new digital sales levy on firms like Amazon. In a letter to Sunak, 18 chief executives and union bosses said “online retailers [...]
Covid restrictions drive online food shopping to record high as customers eat in to help out February 2, 2021 Online grocery shopping hit a record 14 per cent share of the UK grocery market in January, as customers bought more food to enjoy from home. The growth was boosted by a 229 per cent year-on-year rise in online spending by retired households. Supermarkets saw sales growth accelerate to 12.2 per cent in the last [...]
Government should rethink rates holiday as economy kicks back into life February 1, 2021 John Webber is Head of Business Rates at Colliers International News that John Lewis is under pressure to hand back millions of pounds in business rates relief received in this year’s retail rates holiday shows that the Government must re-think the way it uses the rates system to hand out support to businesses.. Last year [...]
World leaders react to Joe Biden entering the White House January 21, 2021 The US is waking up to a new leader, and government vision, as Joe Biden became the country’s 46th president yesterday. The spotlight is now on the future of the country and its international relations rather than the twists and turns that made this presidential race so historic. Here is how world leaders reacted to [...]
Maskforce: TfL beefs up enforcement of face coverings January 20, 2021 Transport for London (TfL) has hardened its stance against passengers refusing to wear face coverings, after figures released today showed it has handed out almost 2,000 fines for mask-flouters. TfL announced it has expanded its team of enforcement officers to crack down on a “small minority” of the public refusing to comply with social distancing [...]
Ex-Greene King boss raises £200m to invest in struggling pub companies January 19, 2021 The former boss of Greene King Rooney Anand has secured £200m in investment to pump into the UK’s struggling pubs sector. Anand, who stepped down as chief executive of Greene King in 2019 after 15 years with the chain, is planning to make a number of acquisitions in the coming months, Sky News reported. The [...]
Morrisons to be first UK supermarket to pay staff at least £10 an hour January 13, 2021 Morrisons will pay its supermarket staff at least £10 an hour, becoming the first major UK supermarket to reach that milestone. The new deal will start in April and represents a significant pay increase for nearly 96,000 colleagues, the majority of which will see a nine per cent rise. Staff had pushed for an increase [...]
Hostelworld in talks with lenders over €30m facility after lockdown restrictions hit bookings January 13, 2021 Hostelworld is in talks with lenders over a new €30m (£26.7m) debt facility after taking “minimal” bookings in the final few months of last year. The budget accommodation platform said global travel demand remained muted in the fourth quarter of 2020, and trading continued to deteriorate from August until the end of the year due [...]
Pressure mounts on big four supermarkets as Lidl enjoys record Christmas sales January 13, 2021 Lidl has strengthened the pressure on its competitors by remaining the fastest growing retailer against the UK’s big four supermarkets of Tesco, Sainsbury’s, Asda and Morrisons. The German chain achieved a record Christmas in 2020 with overall sales increasing 17.9 per cent in the same four-week December period versus the previous year. With Christmas favourites [...]