Labour calls for all MPs to vote on one-off windfall tax May 16, 2022 The Labour Party is calling on all MPs to vote in favour of a one-off windfall tax on oil and gas producers as the cost of living crisis continues to bite into Brits’ pockets. The amendment will be proposed tomorrow morning during the Queen’s Speech debate and it follows an analysis published yesterday by the [...]
Tesco to increase payments to pig farmers by £6.6m amid ‘unprecedented costs’ May 16, 2022 Supermarket giant Tesco has announced it will increase payments to pig farmers by £6.6m, as the industry faces price hikes for wheat and soya. Total support for Tesco farmers will stand at £10m since March, as the farming sector faces staggering commodity price inflation. Feed prices have shot up since Russia’s invasion of Ukraine earlier [...]
Brits cut back on petrol and diesel as cost of living crisis deepens May 13, 2022 Brits are cutting back on petrol and diesel as they reduce the number of car journeys they make to save cash, revealed Ascona Group.
Tesco chief Ken Murphy collects £4.7m: 224 times overall pay of median staff member May 13, 2022 Ken Murphy, the chief of supermarket giant Tesco, received a £4.74m pay packet for the past year, the group has revealed in its annual report. The report, which was filed on Friday morning, said Murphy’s bumper total pay deal was 224 times the overall pay of the median member of staff at Tesco. It comes [...]
Windfall tax would be sticking-plaster policy for a short-sighted government May 13, 2022 Nothing is certain but death and taxes, goes Benjamin Franklin’s famous quip. As war grinds on in Ukraine, we have no shortage of the former. The question occupying the Treasury today is whether one should lead to the other. Should the energy giants’ huge recent profits – a direct result of the war in Ukraine [...]
Office workers can now use local Tesco to work from as supermarket giant joins forces with IWG May 12, 2022 Office workers across the UK will soon be able to use their local Tesco to work from as the supermarket group launches a new partnership with IWG. Tesco has said the flexible workspace business will convert excess space at its supermarket stores into office space designed for hybrid working. It comes amid the continued shift [...]
‘Taking the pistachio’: Watchdog bans Tesco Mobile ads for potential ‘serious and widespread offence’ May 11, 2022 UK advertising watchdog banned Tesco Mobile’s advertising campaign this morning for using expletives as names for food substitutes. The Advertising Standards Authority ruled that the names were likely to cause “serious and widespread offence”, ruling the use of “shiitake” and “pistachio” to be unacceptable. One advert seen in February featured text saying: “What a load [...]
Investment group backed by ex-Tesco boss probed over allegations of £2m Covid loan misuse May 11, 2022 We Are Nova, a start-up investment group with support from ex-Tesco chief Sir Terry Leahy, is being probed over claims it misused Covid loans. According to The Times newspaper, companies associated with We Are Nova netted almost £2m through the government’s bounce back loan scheme. However, the firms did not seem to be eligible for [...]
Windfall tax: There was little sympathy for loss-making energy giants in depths of 2020 May 10, 2022 Is business turning on business? It appeared so yesterday morning when the well-respected Tesco chair John Allan said the case for a windfall tax on energy giants had become “overwhelming.” Needless to say, Labour jumped all over this, just as they did when the former Financial Times editor Lionel Barber said the same. But alas, [...]
The City View: Victoria Scholar on uneasy European markets and US dollar high May 10, 2022 Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through the rebound by European markets today after yesterday’s sell-off, the US dollar’s 20-year high, McColl’s purchase by Morrisons, and Heathrow’s strong results. Andy also talks to City A.M. reporter Charlie Conchie — they unpick the Queen’s Speech, going through [...]