Next boss Lord Wolfson: London’s High Streets had ‘more to worry about’ four years ago despite loss of brands like Topshop January 5, 2023 Next boss Lord Wolfson has “less reason to worry about the high street” compared to a few years ago, on the tail of a slew of household names shuttering. Physical retail was in a less concerning position than in recent years, when a switch to online shopping signalled a death knell for many staple retailers, [...]
The verdict: Experts react to Keir Starmer’s plan for the economy January 5, 2023 Keir Starmer is right to harness the power of government and business working together to fix the UK economy, but “time will tell” whether Labour sticks to sensible spending, economists judged after his maiden speech of 2023 today. Speaking in East London, the opposition leader promised to work side by side with private firms to [...]
Britain’s 1.6m temp workers risk missing out on close to £100m in unclaimed holiday pay January 5, 2023 Amid a 40-year inflation high, soaring energy bills and rising mortgage payments, Britain’s 1.6m temporary workers have been urged to claim an estimated £97m worth of unclaimed holiday pay from employment agencies and umbrella companies engaging them. The urgent call comes from a support group for independent workers, IWORK, that has brought to light that many of the UK’s flexible workforce are [...]
Britain slides into recession that risks lasting whole of 2023, City analysts warn January 5, 2023 Britain has slid into the early stages of a recession that risks burning on for the whole of this year, a closely watched survey published today reveals. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) final purchasing managers’ index (PMI) for December hit 49.9, a slight rise from 48.8 from November, the [...]
Cost of living crisis: UK lawyers braced for talent war and surge in fraud cases January 5, 2023 Lawyers working in top British companies are anticipating a hike in fraud, disputes, and debt recovery cases over 2023 as the UK’s economy takes a turn for the worse, a new survey shows. In-house lawyers expect they will be forced to deal with the fallout of the UK’s cost-of-living crisis as the economic downturn sets [...]
Home REIT’s former investment adviser plunges on Nasdaq debut January 5, 2023 The investment adviser behind Home REIT plunged after listing on the New York Stock Exchange yesterday despite its move to quietly dump the division responsible for the troubled property firm in recent days.
The Meal Deal Inflation Index: Tesco, Greggs, Boots and more January 5, 2023 Times are hard – with a cost of living crisis, inflation, and seemingly constant grey skies. Add strikes to the mix and it’s almost too much to get out of bed. But there is worse than even that – the hardy meal deal, the friend of the cost-conscious Londoners, is no longer quite the value [...]
Amazon: Tech giant to lay off 17,000 staff but boss Jassy remains confident January 5, 2023 Amazon layoffs will now increase to more than 18,000 roles as part of a workforce reduction it previously disclosed, Chief Executive Andy Jassy said in a public staff note on Wednesday. The layoff decisions, which Amazon will communicate starting Jan. 18, will largely impact the company’s e-commerce and human-resources organizations, he said. The cuts amount [...]
Greggs: Baker on a sausage roll as it plots further expansion across UK January 5, 2023 Greggs has said it is on track for 150 net new stores this year as its value-proposition protects it from a wider consumer down-turn. In a fourth quarter trading update, the sausage-roll seller said its sales stood at £1.5bn, as the firm bounced back after experiencing pandemic-related disruption last Christmas. Sales had surged 23 per [...]
Next: Prices to rise in the spring – but boss hopeful inflation will ease in second half January 5, 2023 Next has warned it will lift prices further in the spring as the retailer’s chief said he was optimistic that inflation would let up in the second-half of the year. The fashion firm hiked its full-year profit guidance after seeing better than expected sales over the Christmas shopping period. The high street staple lifted its [...]