Currys: Shares dip despite interest rates helping sales at retailer May 21, 2025 Electrical retailer Currys has reported a jump in profit after sales jumped thanks in part to a boost from lower interest costs. In a trading update on Wednesday, the firm said it expects pre-tax profit to come in at £162m, up 37 per cent year-on-year. Previous guidance had indicated profit for the period ending May [...]
What will stricter buy now pay later regulations mean for Klarna? May 20, 2025 The government is clamping down on the “wild west” of buy now, pay later (BNPL) but this could spark trouble for industry veterans in a competitive sector. The Treasury is set to bring BNPL providers under the supervision of the Financial Conduct Authority, meaning they will have to adhere to the stricter frameworks of the [...]
Card Factory CEO takes home bumper pay rise May 20, 2025 The chief executive of Card Factory has seen his pay packet jump to more than £1.5m after the company’s sales surged. The West Yorkshire-headquartered retailer has handed Darcy Willson-Rymer the pay rise for its latest financial year, taking home £942,559 in the prior 12 months. The main change to the CEO’s salary was the £531,567 [...]
Is this a sweet trade deal with the EU – or does it sound a bit fishy? May 19, 2025 Keir Starmer will be boasting about his latest catch in international diplomacy: a trade deal with the European Union, which the government hopes will boost the chances of landing higher growth. In an agreement that hands EU boats continued rights in British seas until 2038, slashing red tape on food checks and increasing cooperation on [...]
M&S attack exposes long term cyber fallout for UK firms May 19, 2025 The long tail of cyber attacks is becoming clearer, and more costly, for UK businesses. New data from Hiscox revealed the long term brand and commercial damage from breaches has more than doubled in the past year, underscoring the mounting risks in an AI-driven threat landscape. In its latest cyber readiness report, Hiscox found that [...]
Cricketing star Ben Stokes takes stake in alcohol-free Cleanco May 18, 2025 Cricketing star Ben Stokes OBE has taken a stake in reality tv star Spencer Matthews’ alcohol-free spirits brand Cleanco. Stokes partnership with the firm comes as part of a $5m fundraising round for the brand as it hopes for its first year of cash-flow positivty. Cleanco is also gearing up for global expansion with ambitions [...]
Shareholders eye more details on M&S cyber attack impact May 18, 2025 Investors will be hoping that Marks & Spencer can shed light next week on the impact of a damaging cyber attack which has halted all online orders at the retail giant. The company will unveil its financial performance for the past year in an update to the stock market on Wednesday, May 21. However, attention [...]
Rachel Reeves’ tax hikes to cost Timpson £12m extra a year May 16, 2025 Chancellor Rachel Reeves’ Autumn Budget tax hikes are set to cost the business empire of fellow government minister Lord James Timpson £12m extra a year, it has been revealed. The Manchester-headquartered group said the increases in employer’s National Insurance contributions and the National Living Wage will eat into its earnings in the years to come. [...]
Holland & Barrett: Huge losses continue despite sales surge May 15, 2025 Holland & Barrett has suffered another year of losses despite its sales continuing to climb. The Nuneaton-headquartered health foods store chain has reported a pre-tax loss of £61.8m for the 12 months to the end of September 2024. The latest total comes after the retailer also lost £65.3m in the prior 12 months and £59.6m [...]
City veteran Lord Rose ‘horrified’ by slow growth under Labour May 15, 2025 Former M&S boss and current Asda co-chief executive Stuart Rose has hit out at Labour’s lack of strategy aimed at boosting the economy, claiming he has been “horrified” by the UK’s lacklustre performance despite Chancellor Reeves’ pledges to deliver growth at a “faster” pace. Reeves said her £40bn tax raid at last year’s autumn budget [...]