B&M: Bargain hunting Brits help budget chain’s revenues top £1bn June 29, 2023 Brits seeking out bargains have continued to drive earnings at value retailer B&M as it reported a 13.5 per cent rise in group revenue in the first leg of the year. The news, however, failed to impress investors as its share price slumped over 6 per cent when markets opened this morning. The homeware to [...]
Mark Kleinman on banks, Ocado and London’s IPO market June 29, 2023 Mark Kleinman is City editor at Sky News Politics could push ministers to punish banks This is a cost of living crisis, not a banking crisis: if I had a fiver for every time a senior bank executive had said that to me over the last 18 months, I’d never need another mortgage of my [...]
Hunt unveils measures to ensure customers get fair pricing June 28, 2023 Chancellor Jeremy Hunt has drafted an action plan with authorities to ensure customers are being facing fair prices during the cost of living crisis. Hunt sat down with the Competition and Markets Authority (CMA), and the regulators for the energy, water and communications sectors, early on Wednesday 28 June at 11 Downing Street. He was [...]
Uber announces new offerings from Majorca to Mykonos due to record tourism June 28, 2023 Uber has announced a host of new upgrades in European holiday hotspots from Spain to Greece, ahead of what is expected to be a record period of tourism demand in Southern Europe. Popular destinations from Croatia’s Split to Portugal’s Algarve will benefit from a swathe of new improvements, with Uber-users in the popular Greek island [...]
Business travel is back and ‘buoyant’, new data shows June 28, 2023 Business travel is back and “buoyant”, according to new data from the Advantage Travel Partnerships’ Global Business Travel Review, with the business community booking more trips and for longer periods. Booking volumes in the UK’s business travel market, covering aviation, rail and accommodation, hit 90.8 per cent of pre-pandemic levels in the first quarter of [...]
Clearpay jobs at risk as BNPL firm winds down EU business June 28, 2023 Buy-now pay-later giant Clearpay is shutting down its EU operations and could lay off all its European staff, City A.M. can reveal.
Teasing supermarket execs won’t stop inflation, it’s suppliers we need to grill June 28, 2023 Supermarket bosses are an easy shot, but its suppliers making profits which would dwarf those of Tesco or Sainsbury's.
Sunak should be modelling his fiscal rules on Clem Attlee’s, not Margaret Thatcher’s June 28, 2023 Debt and inflation are nothing new, but economic conditions today are very different from the past. To get out of the current sandstorm, Sunak should follow the lessons of Clem Attlee writes Paul Ormerod
David Lloyd could be put up for sale as owners eye £2bn price tag June 27, 2023 TDR Capital is reportedly mulling a sale of its health and fitness business David Lloyd Leisure. The private equity firm is understood to have drafted in Morgan Stanley to advise on potential suitors for the business, Sky News reported. A sale will only be considered by if it draws a “sufficiently attractive valuation” for TDR, [...]
Supermarkets behaving badly: Asda and Morrisons bosses back ‘transparent’ fuel pricing model June 27, 2023 Supermarkets bosses have been grilled by MPs on prices at the pump and agreed to consider entering into a fuel model which would give more transparency. The government has been mulling a scheme whereby petrol stations would have to share live prices in efforts to bring more price transparency for drivers – a similar system [...]