Credit Suisse and Silicon Valley Bank collapses flood City with idled talent April 25, 2023 Credit Suisse and Silicon Valley Bank’s failures have flooded the City with idled bankers looking for new work, a new report out today reveals. Over 4,000 more workers in the UK’s financial services sector were looking for a new gig in the first three months of this year, according to recruiter Morgan McKinley. Available financial [...]
Planet Organic rescued by founders but three London stores will close April 25, 2023 The founders of Planet Organic have bought the business back from administrators in a bid to keep the health-focused grocery store alive, but four stores will be forced to close as part of the process. Advisors Interpath sold the struggling chain to Bioren Limited, a business that was set up last month by the founders [...]
Fleet Street: £5bn development plan will transform former Daily Express HQ to serve a surprising new purpose April 25, 2023 The former Daily Express headquarters is among a flurry of buildings that will be transformed as part of a £5bn makeover of Fleet Street. A pipeline of 34 new developments have been announced for the East London region, which was once the former home of the newspaper industry. As part of the scheme, Salisbury Square, [...]
Are jobs on the line at Joules after Next takeover? April 25, 2023 Joules has launched consultations over potential job losses after the firm said its new owner Next said it is accelerating transition plans. Next snapped up the troubled fashion brand late last year after Joules fell into administration. The deal saw Next secure the future of 1,450 workers at Joules and 100 stores, although 19 stores [...]
Why is John Lewis overhauling its loyalty card scheme? April 25, 2023 John Lewis and Waitrose are both preparing to launch new loyalty card schemes as the partnership looks to turn around the business. The John Lewis Partnership, which owns the department store and upmarket grocery store, has drafted in Dunnhumby, the company which helped establish Tesco’s clubcard scheme in the 1990s and, also, promotions business Eagle [...]
Price of Bitcoin continues its sideways shuffle April 25, 2023 Bitcoin continues to drift around $27k, while Ethereum is down 1.7% from yesterday, having now pulled back 13% from last week’s highs.
Tech Nation bought by Brent Hoberman’s Founders Forum April 25, 2023 Start-up quango Tech Nation has confirmed the sale of its brand to Brent Hoberman’s Founders Forum today for an unknown fee. The start-up network, which was launched in 2011 under David Cameron’s coalition government, announced in January that it would shut its doors after ministers controversially pulled its funding and handed it to high street [...]
Whitbread pockets £2.6bn revenue: Premier Inn owner’s shares soar five per cent despite ‘most challenging’ period April 25, 2023 Whitbread said its earnings returned to pre-pandemic levels with the Premier Inn owner’s bottom line boosted by Brits embracing more leisure and travel. Whitbread, which also owns restaurants Beefeater and Bar+Block, reported revenues of £2.6bn for the year to March 2023, up 54 per cent from £1.7bn the previous year. Whitbread (WTB) shares soared nearly [...]
Primark owner claims fast fashion still a draw as cost of living crisis boosts sales April 25, 2023 Primark owner Associated British Foods (ABF) has reported a slight dip in its adjusted operating profit as the retail and grocery giant felt the pain of soaring inflation and a tough economic climate. For the 24 weeks to 4 March, the group’s adjusted operating profit came in three per cent lower at £684m, compared to [...]
60 Uber Eats and Deliveroo drivers arrested amid Home Office ‘crackdown’ on illegal working April 24, 2023 Some 60 fast food delivery drivers have been arrested across London as the Home Office cracks down on alleged illegal working. Gig workers employed through Deliveroo, Uber Eats and Just Eat were arrested between 16-21 April following a “week long crackdown” on illegal workers led by the Home Office. Following the arrests, the department said [...]