Asda chair slams Boris Johnson for not being ‘in charge’ as UK flounders amid cost of living crisis August 17, 2022 Boris Johnson has been lambasted by Asda boss Stuart Rose for being on “shore leave” as the UK faces economic turmoil. The supermarket chairman has criticised the Prime Minister for treating his last few weeks in the job as “one big party,” while the country is in the throes of a cost of living crisis. [...]
Asos shares slip after top exec announces departure August 17, 2022 The ASOS board have agreed a phased plan under which Mat Dunn, Chief Operating Officer and Chief Financial Officer, will step down from his roles as ASOS restructures its executive team.
Cineworld tanks as firm considers share dilution amid dwindling demand August 17, 2022 Cineworld said that despite a gradual recovery of demand since re-opening in April 2021, recent admission levels have been below expectations due to limited film slates.
Bar chain owned by ex-Dragons’ Den investor receives £10m cash injection for expansion August 17, 2022 The owner of the Cocktail Club bar chain has received a £10m funding injection from HSBC UK in order to continue its expansion plans. Nightcap, which was founded by former Dragons’ Den investor Sarah Willingham and Michael Toxvaerd in 2020, is eyeing almost two dozen additional sites. The chain – which owns The Cocktail Club, [...]
Pubs feel pinch of energy and supply chain inflation August 17, 2022 HOSPITALITY businesses renewed calls yesterday for an emergency VAT cut as the sector deals with rampant energy hikes. New research released yesterday suggested that most bars and restaurants are dealing with “significant” energy cost hikes whilst a majority are also seeing dramatic hikes in their food and drink costs. The new data, compiled by consultancy [...]
Pubs are vital parts of our community: they urgently need a tax cut August 16, 2022 If the pandemic taught us one thing, it’s that the City is far more than traders, brokers and bankers. It’s the teams who packed up a host of high-end kit on a Friday and parked it in front rooms in the Home Counties in time for Monday’s open; the insurers and the compliance bods who [...]
Harrods threatens to become first major employer to use agency staff as strikebreakers August 16, 2022 The staffing agency industry’s trade body has hit out at Harrods after the luxury department store threatened to take advantage of new laws allowing it to break strikes using temporary workers. Harrods told its staff it is willing to use temporary workers to keep its shop running after employees at the Knightsbridge shop threatened to [...]
Brexit Britain no longer seen as potential home for EU citizens: New arrivals drop by 90 per cent in just one year August 16, 2022 The number of citizens from member states of the European Union that moved to Britain has dropped dramatically, according to new figures seen by Morning Wire Data from the Migration Observatory, part of the University of Oxford, showed that just under 43,000 EU citizens obtained UK visas for work, study, family or other purposes last [...]
UK grocery price inflation hits highest level since 2008 August 16, 2022 UK grocery price inflation has hit its highest levels since the 2008 financial crash over the past month, according to the latest figures. Brits are now facing an 11.6 per cent price hike on average food-shopping goods, market data from Kantar has revealed today. As spiralling inflation leaves no sector in the UK unscathed, the [...]
Watches of Switzerland to open new flagship London Rolex store August 16, 2022 Watches of Switzerland today set out plans to open a new 7,200 square foot flagship Rolex shop in Mayfair after posting strong results for the first half of 2022. The watch seller will relocate its Rolex Boutique from its current 900 square foot premises on Bond Street to new much larger premises down the [...]