Thousands of Sainsbury’s jobs at risk as UK supermarket shakes-up management January 23, 2018 Thousands of Sainsbury’s jobs are at risk as the supermarket seeks to shake-up its management structure. The announcement comes shortly after Tesco put more than 1,500 staff into a consultation period as it prepared to cut around 800 jobs. Read more: Tesco announces it is cutting 800 jobs Structural changes in the retail industry, combined [...]
Tesco announces it is cutting 800 UK jobs January 22, 2018 Tesco is cutting 800 jobs within the business in a bid to simplify its operations. The UK’s biggest supermarket is removing all people managers and compliance managers from its large stores and fulfilment centres, and is removing its customer experience managers. Read more: Tesco “outperforms market” with Christmas sales rise As a result of the [...]
Compass CEO Richard Cousins and family killed in plane crash: The City pays tribute January 2, 2018 Tributes have been paid to the FTSE 100 chief executive who was killed alongside his family in a New Year’s Eve plane crash. Richard Cousins, 58, the outgoing CEO of the world’s largest catering firm, Compass Group, died in a seaplane crash near Sydney Harbour on 31 December 2017. Also killed were Cousins’s two sons [...]
Palmer & Harvey collapses into administration despite rescue talks with Carlyle Group November 28, 2017 Palmer & Harvey (P&H), the UK’s biggest cigarette supplier, has collapsed into administration despite weeks of crunch takeover talks with private equity firm Carlyle Group, according to reports. PwC was appointed today to handle the administration. Matthew Callaghan, joint administrator and PwC partner, said: “The Palmer & Harvey name has been a trusted partner for [...]
After the hype, this year’s retail extravaganza of Black Friday was a short-lived frenzy November 27, 2017 Just three years ago Black Friday became synonymous with images of customers fighting over heavily discounted goods. The ugly scenes accompanied reports of police and ambulance services being called to stores across the UK, with several people injured in the melees. Fast forward to 2017 and the madness turned to mirth over the weekend as [...]
Autumn Budget 2017: Government to investigate tax on single-use plastics November 22, 2017 Plastics are set to come under scrutiny as the chancellor today announced plans to investigate charges on single-use plastic items. Philip Hammond said he would work with environment secretary Michael Gove to look into how the tax system and charges on single-use plastics could reduce waste. “The UK led the world on climate change agreements [...]
Cabot Credit Management ditches £1bn float citing poor UK market conditions November 16, 2017 Cabot Credit Management, Britain’s biggest debt collector, abandoned plans to float yesterday, one in a series of ditched IPOs in recent months. In a statement, Cabot said that current conditions in the IPO market meant it would not be following through on the £1bn float. “The high level of engagement and interest that we received [...]
Battle of the sarnies: From Tesco to Benugo, which Christmas sandwich will come top of our list this year, and which one was literally inedible? November 15, 2017 We set off into the City to gather festive sandwiches from supermarkets and fast food chains far and wide to see which of them is worthy of Santa himself, and which were a nightmare before Christmas. Eat Turkey and cranberry sandwich ★★★☆☆ Tastes alright, but nothing to write to Santa about. Solid fillings, pleasantly sweet [...]
Kantar figures: Lidl maintains position as UK’s fastest growing grocer as Sainsbury’s outpaces Big Four November 14, 2017 Lidl has kept its crown as the UK’s fastest growing grocer for a fifth quarter in a row, as Sainsbury’s becomes the best performing of the Big Four. Figures published by Kantar Worldpanel this morning show that sales were up 15.1 per cent at Lidl in the 12 weeks to 5 November, with 10.6m households [...]
Nisa members have voted in favour of Co-op’s takover offer November 13, 2017 Members of convenience chain Nisa have voted to accept The Co-operative's £140m offer for the business. The offer just scraped in over the minimum 75 per cent approval rate, with 75.79 per cent in favour and 24.21 per cent voting against the Co-op’s offer. The Co-op will now acquire the business for a total of [...]