Sainsbury’s to shut 200 cafes as it eyes more Starbucks in stores March 1, 2022 Sainsbury’s has announced it will close 200 cafes in its stores this year as it attempts to rival discount retailers. The supermarket said 200 Sainsbury’s cafes will close to customers in the spring this year while it will roll out 30 food halls and 30 Starbucks cafes. Around 2,000 staff will be impacted by the [...]
The City View Podcast: Businesses react to war in Ukraine and preparing your pension March 1, 2022 In this episode of The City View, Andy Silvester goes through today’s corporate headlines and chats to Nicholas Earl, City A.M’s Energy Reporter, about how businesses have reacted to Russia’s invasion of Ukraine; their role in such a crisis; and how increasing energy prices will significantly impact companies. Andy also talks to Becky O’Connor, Head [...]
Ukraine war boosts Bitcoin and green stocks as crypto helps Russians and oligarchs to get funds out March 1, 2022 Talks in Belarus between the Ukrainian and Russian committees yesterday were overshadowed by the intensifying military fight in Ukraine. Putin, who seems frustrated with the Ukrainian resistance, and the Westerns sanctions imposed sanctions to the West on his turn by closing its airspace to 36 countries and banning its residents from transferring hard currency abroad. [...]
Russia moves towards economic collapse with plunging Rouble March 1, 2022 With the slumping Rouble now worth less than one US cent, the Russian economy is on the brink of a collapse. Karl Marx warns ‘history repeats itself, first as tragedy, second as farce.’ Hitler’s Anschluss with Austria is mirroring Russia’s annexation of Crimea, the encroachment in the Donbas with the occupation of the Sudetenland. But [...]
Discount retailers benefit from cost of living crunch as shoppers head to Aldi and Lidl March 1, 2022 Grocery price inflation hit a new high of 4.3 per cent last month, with budget supermarkets luring shoppers in as the cost of living intensifies. Fresh data from Kantar reveals the fastest rate of inflation since September 2013, with the exception of the start of the pandemic when households panic bought essentials. Aldi and Lidl [...]
City watchdog tables fresh employment terms and pay rise to staff in bid to settle dispute March 1, 2022 The City watchdog has offered its workers a fresh employment package in a bid to resolve a long-running dispute over pay, it announced today. Some of the lowest paid employees at the Financial Conduct Authority (FCA) will receive an at least £4,300 wage bump, while workers that meet performance targets will get a £5,500 pay [...]
Spotlight on SPACs: more risk than opportunity? March 1, 2022 It is never a good idea to invest in a SPAC just because someone famous sponsors or invests in it or says it is a good investment. While special purpose acquisition companies (SPACs) have been around for decades, they have attracted unprecedented interest and investment since the first wave of Covid-19. Amid this recent boom, entrepreneur Richard [...]
2021: An exceptional year for EMEA M&A March 1, 2022 EMEA M&A markets went into overdrive in 2021, spurred by a number of factors, resulting in an exceptional year for dealmakers.
Bitcoin overtakes Russian rouble as crypto markets buoyant March 1, 2022 The Bitcoin price currently sits at around $43k, having increased more than 12 per cent over the past 24 hours.
Households hunker down finances as they brace for worsening cost of living crunch March 1, 2022 Households are hunkering down their finances in preparation for the cost of living crunch to tighten, reveals official data published today. Brits cut back on spending last month and channeled money into their savings accounts to offset a future deterioration in their budgets caused by soaring inflation. Households added £7.8bn to their savings accounts last [...]