John Lewis to make redundancies as major store changes announced August 13, 2024 Department store giant John Lewis is to cut more than 150 jobs as it unveiled a major restructuring plan to its partners. The company is to reduce its headcount by 153 roles, about one per cent of its current workforce, which it hopes to achieve by natural attrition and voluntary redundancies. The news was first [...]
Asda continues to lose market share while grocery inflation rises for first time since March 2023 August 13, 2024 Asda and the Co-op have continued to lose market share while a rise in grocery inflation has led to overall sales increasing significantly for Tesco, Sainsbury’s and Lidl. Take-home sales at the grocers rose by 3.8 per cent in the four weeks to August 4, 2024, compared with the same period a year ago, according [...]
Bonus cap: Bankers and nurses both work hard, but you shouldn’t compare their pay August 13, 2024 As UK banks start scrapping the bonus cap, Emma Revell argues why this is a good thing – and what the NHS could learn from it People hate bankers almost as much as they love the NHS. So unsurprisingly, the return of big bonuses to City pay packets is not without controversy. In what may [...]
S&U: Motor finance lender urges Labour to change ‘restrictive’ regulation after profit warning August 12, 2024 Specialist lender S&U has urged the new Labour government to change the UK's "restrictive and constantly changing" regulatory regime after warning that actions by the City watchdog would have a "significant impact" on its motor finance business' profits.
Inside Asda’s turnaround plan to win back customers from supermarket rivals August 9, 2024 It’s a difficult time to be at Asda’s helm – with sales down as well as competitors eating into its market share, the supermarket giant has announced an ambitious three-point turnaround plan to stave off further declines. Without a permanent CEO – the position has been empty since 2021 and filled on an interim basis [...]
‘Utter madness!’: 7 of the best Edinburgh Fringe shows to book now August 9, 2024 “Spectacular and unhinged” are two words rarely seen together in theatre reviews, except for at the Edinburgh Fringe, where the most brilliantly eccentric ideas get space to breathe. Here are the best shows to catch at the Edinburgh Fringe, and helpfully, we’ve only reviewed performances with London transfers so if you aren’t going to Scotland [...]
London pub group handed lifeline after administration and closure woes August 6, 2024 A London pub company that partly collapsed into administration earlier this year and closed a number of sites has agreed a £61m deal.
Biggest UK lenders including Natwest, Lloyds and Nationwide could fail safely in a crisis, Bank of England says August 6, 2024 The Bank of England has said any major UK lender could be safely wound down in a crisis without causing disruption to banking services or forcing a taxpayer bailout.
Sig profit plummets as cracks show in European flooring market August 6, 2024 Sig said its performance reflected "challenging conditions" in the UK Interiors market, where it designs anything from ceilings to raised access flooring.
Ramsdens: Pawnbroker ups guidance on high gold price August 6, 2024 Pawnbroker Ramsdens reported good trading momentum in its third quarter, with profit before tax expected to come in ahead of expectations, mainly thanks to higher gold prices. The company said it expected profit to rise eight per cent this year, from £10.1m in 2023 to £11m. Revenue was helped by the high gold price, which [...]