John Lewis to make redundancies as major store changes announced August 13, 2024 Department store giant John Lewis is to cut more than 150 jobs as it unveiled a major restructuring plan to its partners. The company is to reduce its headcount by 153 roles, about one per cent of its current workforce, which it hopes to achieve by natural attrition and voluntary redundancies. The news was first [...]
The meaning behind Banksy’s latest London murals? His brand needed a boost August 13, 2024 Banksy’s London murals have found many searching for a hidden meaning, but a look at the artist’s declining value suggests it’s just needed marketing, writes Andy Blackmore For weeks now, I’ve been trying to solve a partially perplexing riddle: just what do a gorilla, a goat, a rhino, some fish and a whole menagerie of [...]
London economy set for another Taylor Swift gold rush August 13, 2024 London is set to receive another gold rush this week as Taylor Swift returns for the second UK leg of her Eras tour. The global pop sensation, who has already dazzled London with three dates in June, will perform five more shows in the capital, which is expected to generate £108.5m for the city’s economy, [...]
Asda continues to lose market share while grocery inflation rises for first time since March 2023 August 13, 2024 Asda and the Co-op have continued to lose market share while a rise in grocery inflation has led to overall sales increasing significantly for Tesco, Sainsbury’s and Lidl. Take-home sales at the grocers rose by 3.8 per cent in the four weeks to August 4, 2024, compared with the same period a year ago, according [...]
Just Group shares soar 17 per cent after analyst expectations smashed August 13, 2024 Retirement financial specialist Just Group has soared past expectations with an underlying operating profit of £249m, 20 per cent ahead of consensus and up 44 per cent from last year. The company’s shares have soared 17 per cent this morning as a result to their highest in six years. In the firm’s interim results for [...]
UK economic data dump set to bolster case against September rate cut August 12, 2024 A slew of official UK economic data this week is poised to bolster the case for policymakers at the Bank of England not to cut interest rates next month, with inflation forecast to rise for the first time this year.
From the Paris Olympics to Royal Ascot: How catering giant Sodexo Live became the invisible force behind Europe’s biggest events August 12, 2024 From the Paris Olympics and the Rugby World Cup to Royal Ascot, Sodexo Live has become the invisible force keeping plates loaded and champagne glasses topped up at Europe’s biggest events. In 2023 the Paris-headquartered catering giant‘s events division, Sodexo Live, served more than 11m guests in the UK alone, employing around 1,700 people across [...]
JD Sports shares slump after stockbroker downgrade August 12, 2024 Shares in JD Sports slumped more than four per cent on Monday morning after analysts at stockbroker Deutsche Numis questioned the retailer’s ability to generate cash. Analysts downgraded the stock from a ‘buy’ to a ‘sell’ and lowered the share price target from 115p to 110p. Deutchse’s forecast was 6.5 per cent below the fashion [...]
FTSE 100: UK stocks erase losses from last week’s selloff ahead of economic data dump August 12, 2024 The FTSE 100 reversed its losses from last week's massive global selloff on Monday as investors hunt for bargains and look ahead to a slew of economic data in the coming days.
Peloton loses almost £100m as UK arm sheds hundreds of jobs August 12, 2024 The UK arm of Peloton lost almost £100m and shed hundreds of jobs, it has been revealed. The London-headquartered division has posted a pre-tax loss of £98.1m for the 12 months to June 30, 2023, according to newly-filed accounts with Companies House. Peloton previously posted a pre-tax loss of £173.7m for its prior financial year. [...]