FTSE 100 roundup: Today’s winners and losers February 1, 2019 The FTSE 100 finished 0.74 per cent up today, nudging just above 7,000 points to finish on 7,020.22. The index was bolstered by weakness in the pound after the release of further disappointing manufacturing statistics this morning. Sterling has had a tough end to an already difficult week, falling 0.3 per cent against the dollar, striking a [...]
Revolutionary is overrated – unsexy is the new black February 1, 2019 There was a time when pushy parents steered their children towards professions like medicine, banking, or law, while their offspring dreamed of being musicians, pilots, and firefighters. Now, it seems that having the next big idea or making money through your personal brand on social media is the common career goal. The entrepreneur is the [...]
Britain’s trade bodies must confront challenges of their own January 31, 2019 What does the future hold for Britain's trade bodies? We hear a great deal about the disruption that poses huge challenges to their members but what of the disruption facing membership groups themselves? Many are struggling with declining membership rates, or the competing interests of the members who do remain. Take the British Retail Consortium [...]
Court rules in favour of Asda workers in equal pay claim against supermarket giant January 31, 2019 Asda workers have been handed a victory in their equal pay claim against the supermarket giant after the Court of Appeal ruled that store workers' roles are comparable to jobs in its warehouses. Tens of thousands of store workers claimed they had been discriminated against in being paid less than their male counterparts who predominantly [...]
Investors get green light to inspect SFO documents in legal action against Tesco January 29, 2019 A group of investors pursuing legal action against Tesco over its 2014 accounting scandal have been given the green light to inspect documents compiled by the Serious Fraud Office (SFO). Last Friday a High Court judge ruled that the documents, now in Tesco’s possession, would be of “considerable litigious advantage” to the claimants. Judge Hildyard [...]
Electric vehicle drivers struggle to find best tariff deals, charity finds January 28, 2019 Consumers aren't receiving clear enough information to work out the best tariff for their electric vehicles, a charity has found. New research from Citizens Advice, which assists the public with money, legal and consumer issues, said there was also a wide variation in the price of tariffs available and that non-recipients of a charge point grant [...]
Tesco reveals 9,000 jobs set to be hit in major restructuring amid ‘challenging’ market January 28, 2019 Tesco has revealed plans to axe up to 9,000 jobs as part of a cost-cutting move that will involve the grocer trimming its head office and closing tens of fresh food counters. Britain's largest retailer said today that 90 counters will be closed and 9,000 jobs will be impacted by the latest twist in Dave [...]
Ocado and Marks & Spencer see shares rise on reports of food delivery partnership January 28, 2019 Shares in Marks & Spencer and Ocado were up this morning following reports the firms are in talks over a possible food delivery partnership. Ocado and Marks & Spencer saw their shares rise five per cent and one per cent respectively in early trading after it emerged the retailer could sign a deal to use [...]
Tesco set to ‘axe up to 15,000 jobs’ January 27, 2019 Fears that Tesco will axe 15,000 jobs emerged over the weekend, amid reports that Britain’s largest grocer is planning to overhaul some of its store operations as part of a £1.5bn cost-cutting plan. Reports in the Mail on Sunday said today that thousands of employees in Tesco’s meat, fish and delicatessen counters face the firing [...]
Cleared Tesco executive launches legal action against supermarket following £250m accounting scandal January 25, 2019 A former Tesco executive recently cleared over the retail giant’s £250m accounting scandal is suing the supermarket following the collapse of the Serious Fraud Office's (SFO) case against him last year. Chris Bush, one of Tesco’s most senior employees who joined the supermarket chain upon leaving school, was acquitted of charges of fraud and false [...]