Growers warn leek supply will be exhausted by April as Therese Coffey tells Brits to eat turnips February 24, 2023 Growers are warning of a leek shortage that will see British-grown supplies exhausted by April. High temperatures and a lack of rain, followed by a period of cold weather, are being blamed for creating the “most difficult season ever”. Supermarkets are already limiting the sale of tomatoes and other fruit and vegetables because of a [...]
Embattled Love Hemp dragged out of weeds by ‘special purpose’ CBD investor for undisclosed sum February 23, 2023 Embattled CBD brand Love Hemp has been rescued from collapse, weeks after the cannabis firm was forced to draft in administrators amid plummeting sales. The group, which has been promoted by boxer Anthony Joshua, was acquired for an undisclosed price by Portillion SPV1 Limited. The group has been recently founded by Kamran Sattar, the chief [...]
FCA warns firms to act now or risk falling foul of incoming consumer duty regime February 22, 2023 Firms must act now to prepare for a new consumer duty, a boss at the City regulator has said. Sheldon Mills, executive director of competition and consumers at the Financial Conduct Authority (FCA), told firms: “You still have time to deliver. But you must act now.” Speaking at an online event hosted by Deloitte marking [...]
Crypto investors look through hawkish Fed minutes to focus on fundamentals February 22, 2023 Experienced crypto investors will be prepared to look through any near-term inflation and interest rate news, says Nigel Green.
Next: Share price up for luxury interior brand Sanderson Design after £2.6m licensing deal February 22, 2023 The share price of luxury interior furnishings group Sanderson Design skyrocketed 12 per cent to 132.7pt this morning, after a £2.6M licensing agreement with London listed retailer Next was announced. The group will sell its Clarke & Clarke products, which includes wallpaper and rugs, in Next’s online and physical stores, with the deal meaning a [...]
Zalando forced to axe jobs as retailer admits it expanded ‘too much’ February 21, 2023 The German-based group, which sells a range of brands such as adidas and Nike, said it had expanded some parts of its company “too much”.
Co-op front runner in race to buy Sainsbury’s Bank’s £650m loan book, according to reports February 21, 2023 The Co-operative Bank has tabled an offer for Sainsbury’s Bank’s £650m loan portfolio being, according to reports by Sky News. The Co-operative bank is among a number of parties understood to have tabled a bid for the supermarket bank’s loan book . An insider cited by Sky News said the Co-operative “appeared to be the [...]
Let the payouts commence: As HSBC profits top £4.3bn, banking giant looks likely to appease Asian shareholders February 21, 2023 HSBC promised large payouts in 2023 to appease activist shareholder Ping An after comfortably beating market expectations in the final quarter of 2022. HSBC’s pretax profit for the final quarter nearly doubled to $5.2bn (4.3bn), beating market expectations of $5bn. This brought the bank’s total profit for 2022 to $17.5bn, seven per cent lower than [...]
Jeremy Hunt’s fiscal rules are holding back the UK economy – it’s time for change February 21, 2023 Bean counters are running the Treasury again. I’m imagining sheets of paper plastered with Jeremy Hunt’s current fiscal rules pinned up around Whitehall to remind departments of the belt-tightening needed to balance the books. Fiscal rules are targets Chancellors have aimed to meet since George Osborne pivoted away from Gordon Brown’s “Golden Rules” in 2010 [...]
Sainsbury’s cuts prices as supermarkets battle to provide cheap food in cost of living crisis February 20, 2023 Sainsbury’s has become the latest British supermarket to try and reduce the price of their products, after it revealed it will launch discount £2 fruit and vegetable boxes. Sainsbury’s said that its ‘Taste Me, Don’t Waste Me’ boxes will include a variety of surplus fresh fruit and vegetables with the boxes being sold at a [...]