Shares plunge for Naked Wines after bleak sales guidance warning June 23, 2022 Naked Wines’ shares tumbled by around 40 per cent on Thursday after the online wine retailer warned its sales would take a hit this year. The London-listed retailer cautioned its shareholders that sales could plunge by as much as four per cent in the year to the end of March. Naked Wines would “not pursue [...]
Boohoo poaches Trainline CFO weeks after retailer saw first-ever sales drop June 23, 2022 Boohoo has poached Trainline’s former finance lead as its new chief financial officer (CFO), just weeks after the retailer posted its first-ever sales drop. It comes amid a turbulent period for fast fashion brands. Rival retailer Missguided collapsed in late May, after being hammered by spiralling supply chain costs. Shaun McCabe, who has sat on [...]
Supply chain issues will last throughout 2023 according to Boeing June 22, 2022 Supply chain issues will last throughout 2023, according to Boeing’s chief executive David Calhoun. The plane manufacturer said woes were exacerbated by a faster-than-expected return of demand. “The shift from demand to now supply issues … is remarkable, the speed with which it happened,” the chief executive said during Bloomberg’s Qatar Economic Forum today. “It’s [...]
Bewildered: M&S hits out at Gove over public inquiry over iconic Oxford St flagship store redevelopment June 21, 2022 Marks and Spencer has slammed the housing minister’s decision to hold a public inquiry over a redevelopment plan of its Marble Arch store. The supermarket said it was “bewildered and disappointed” that Michael Gove had chosen to call in its plans to bulldoze the Art Deco flagship store on Oxford St. A public inquiry will [...]
Boris Johnson spokesperson says ‘no plans’ to change cap on executive pay June 21, 2022 Boris Johnson’s official spokesperson has said there are “no plans” to change a cap on executive pay. On Tuesday morning, the PM’s spokesperson added: “I think the issue being investigated is how non-executive directors are paid, rather than what the CEOs or directors are paid.” Ministers were mulling changes relating to “people being able to [...]
Gilbert’s AssetCo buys Edinburgh asset manager to bolster Scottish business June 21, 2022 Martin Gilbert’s asset management vehicle AssetCo has snapped up Scottish firm SVM Asset Management Holdings for £10.7m, as it looks to broaden its footprint north of the border.
Oil and gas body warns windfall tax will deter investment in domestic energy sector June 20, 2022 OEUK has ramped up its criticisms of the imposed windfall tax - describing the new levy as "punitive," amid fears it could jeopardise investment.
Brexiteer Jacob Rees-Mogg accused of ‘playing silly games’ with security staff by refusing to wear parliamentary pass June 20, 2022 Brexit opportunities minister Jacob Rees-Mogg has been accused of “playing silly games” with parliamentary security, by not wearing his pass to enter the Westminster estate. The eccentric Tory politician who is also responsible for government efficiency was criticised this week by the PCS union, over claims he refused to wear the pass on him at [...]
Failed resolution talks: Rail and tube strikes will go ahead next week June 18, 2022 Rail and tube strikes have been confirmed for next week after a resolution failed to be reached over pay and working conditions. The Rail, Maritime and Transport union (RMT) confirmed the news this afternoon, stating that discussions with Network Rail, train operators and London Underground had been fruitless. The Department for Transport told the BBC [...]
Alphabet exec warns skill shortages could stunt economy as UK vows to become ‘global tech superpower’ June 18, 2022 Alphabet chief financial officer Ruth Porat has warned ongoing digital skill shortages risk stunting economic growth.