Marks and Spencer’s chairman Archie Norman: Plans to ease post-Brexit trade ‘overbearing and baffling’ January 26, 2023 Marks & Spencer’s chairman has become the latest business leader to criticise the Government’s economic policy, with Archie Norman calling plans to ease post-Brexit trade “overbearing” and “baffling”. Norman, who is also an ex-Conservative MP, has urged the Foreign Secretary during talks with the EU not to consider separate labelling for goods sold in Northern [...]
Diageo shares fall despite strength in premium drinks sales as US market disappoints January 26, 2023 Diageo reported an increase in profit and beat analyst expectations for sales growth but investors were disappointed by the company’s performance in the US market, sending shares down over six per cent in morning trade. In the six months to 31 December, the world’s largest spirits manufacturer’s pretax profit increased to £3.1bn from £2.7bn On [...]
Wetherspoon boss Tim Martin lashes out at ‘vast disparity in VAT treatment’ between pubs and supermarket alcohol sales January 25, 2023 Wetherspoon boss Tim Martin has launched a scathing attack on the government, saying the biggest threat to pubs is the “vast disparity in tax treatment” compared to restaurants and supermarkets. The outspoken chain boss said he was “cautiously optimistic” for the financial year ahead, as the firm published its like-for-like sales in the 25 weeks [...]
Amazon mutiny: 300 UK staff strike over pay in historic first for the company January 25, 2023 Amazon workers are staging their first ever strike in the UK in a dispute over pay. Members of the GMB at the company’s fulfilment centre in Coventry voted to walk out on Wednesday in protest against a pay rise the union said is worth 50p an hour. Stuart Richards, GMB senior organiser, said: “Today, Amazon workers in Coventry [...]
A happy Burns week for whisky producer with new boss to build on growth January 24, 2023 Leading whisky producer The Artisanal Spirits Company has announced a shake-up in management as the company reports strong growth in 2022. Among the changes is managing director David Ridley, who is stepping down from his role after six years of constant revenue growth. Taking over the CEO position is Andrew Dane, who joined the company [...]
Aramco-backed halal fintech opens bank branch in London despite high street bank exodus January 24, 2023 Aramco is backing American fintech Wahed as it launches a physical bank in London. However, concerns of a high street bank exodus place question marks over the branch’s future success. Wahed’s first UK-based physical bank, which opens its doors today on Baker Street, has scored £61m ($75m) from the Saudi Arabian oil giant together with [...]
Beauty and the beat: Hipgnosis spends £163m to buy Justin Bieber’s hits January 24, 2023 Hipgnosis Song Management has bought the back catalogue of Canadian superstar artist and songwriter Justin Bieber in a deal reported to be worth $200m (£163m). Bieber’s songs have been streamed over 32 billion times on Spotify, where he has 82 million monthly listeners. Hipgnosis said today it had acquired Justin Bieber’s 100 per cent interest [...]
THG brings in new finance chief ahead of bleak looking year January 24, 2023 E-commerce giant THG has hired Damian Sanders as its new chief financial officer amid a recent slew of negative earning reports and a collapse in share price. Following a global search, the troubled British firm has landed on Sanders as the replacement for John Gallemore, who is moving over to the role of chief operating [...]
London to get its own highline – as Camden looks to emulate Manhattan January 24, 2023 Camden’s green garden in the sky took a step closer to reality after charity Camden Highline was given the go-ahead for the first stage of a project that will transform a section of disused Victorian railway into an overhead park. Garden designer Piet Oudolf, working with the London Wildlife Trust, is leading the design and [...]
Exclusive: London-based Peckwater Brands swallows competitor to become largest virtual food brand in Europe January 24, 2023 Peckwater Brands has acquired its chief competitor eatclever, making it the largest provider of virtual food outlets in Europe. The acquisition has seen Peckwater scooping brands like taste&soul, KoChi and Chicos from its health food-focused competitor, expanding its reach into Germany, Austria and Switzerland in the process. The terms and price of the deal are [...]