London markets edge higher as investors shrug off another hot inflation print February 16, 2022 London markets were muted yesterday as investors digested the implications of another red hot UK inflation print. The capital’s premier FTSE 100 index edged down 0.07 per cent to 7,603.78 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, dipped 0.11 per cent to 21,828.94 points. [...]
Little Moons set to fetch £100m in private equity bidding war February 10, 2022 An ice cream business that boomed in popularity via TikTok is the focus of a private equity bidding war that could value it at above £100m. Little Moons, which creates Japanese mochi ice cream balls, has surged in popularity thanks to a viral TikTok video and now has five private equity firms readying a bid, [...]
Competition watchdog brands Amazon as ‘grocery retailer’ enforcing UK supplier protection February 9, 2022 UK competition watchdog has branded Amazon as a “grocery retailer” after the ecommerce giant announced it would be increasing its activity in the sector, with plans to launch 15 new Amazon Fresh stores in London. The Competition and Markets Authority’s (CMA) decision is aimed at protecting suppliers and ensuring fairer payment terms, forcing Amazon, as [...]
UK broadband and pay TV complaints at an ‘all-time low’ says Ofcom February 8, 2022 Ofcom has revealed that the number of complaints received between July and September last year across broadband, landline and pay TV companies were at an all-time low. From its latest league table, TalkTalk and Shell Energy had the most broadband complaints, primarily due to faults and service issues. With the industry average being 10 complaints per every 100,000 [...]
M&S remains UK’s fastest growing supermarket catching up with Big Four grocers February 8, 2022 Marks & Spencer has maintained its position as UK’s fastest growing food retailer, market researcher NielsenIQ said today, indicating its turnaround plan is gaining momentum. It said M&S’s sales rose 12.3 per cent in the 12 weeks to January 29 year-on-year, giving it a market share of 3.6 per cent, up 0.4 percentage points on [...]
London markets climb as airlines take off February 7, 2022 London markets posted a strong start to the week yesterday, led higher by airlines taking off. The capital’s premier FTSE 100 index closed 0.76 per cent higher at 7,573.47 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, added 0.39 per cent to reach 21,797.29 points. [...]
Cobra chairman: ‘No running away’ from beer price increases February 7, 2022 Price hikes for beer are a “necessity” against a backdrop of spiralling costs faced by businesses, according to the founder of Cobra Beer. Firms have been hit with rising costs across the supply chain, including manufacturing, energy and labour with consumers facing rising food prices and utility costs. The food and drink industry faces a [...]
Tesco chief: ‘The worst is yet to come’ as energy crisis set to push food prices higher February 7, 2022 Tesco chairman John Allan issued a stark warning on rising food prices yesterday, cautioning “the worst is yet to come” in the coming months. While the supermarket boss said it was troubling people were facing heating or eating, Allan said Tesco had also been hit with soaring energy costs. The average amount of household income [...]
City Moves: Who’s switching jobs in the Square Mile this week? February 3, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Just FTSE 250 retirement group Just has appointed a new managing director to its high growth defined benefit de-risking business after it secured record results last year. Joining in mid-April, Pretty Sagoo brings a “wealth” of experience in bulk annuities and the pensions risk transfer market to [...]
Shop price inflation highest in a decade as Brits feel cost of living squeeze February 2, 2022 Retail inflation has soared in the past month, with Brits eyeing discount retailers for cheaper prices as the country faces a cost of living squeeze. Shop price annual inflation surged to 1.5 per cent in January, according to the British Retail Consortium (BRC) and Nielsen IQ shop price index. This was up from 0.8 per [...]