India’s financial crime watchdog looks to fine e-commerce giant Flipkart $1.3bn August 5, 2021 India’s financial crime watchdog is looking to fine Walmart-backed e-commerce giant Flipkart $1.35bn over claimed foreign investment violations, according to reports. The Enforcement Directorate agency has been investigating retail heavyweights like Flipkart and Amazon for allegedly bypassing laws that regulate multi-brand retail and restrict them to operating a marketplace for sellers, Reuters first reported citing [...]
Mike Ashley to hand reins of Sports Direct retail empire to future son-in-law August 5, 2021 The board of Frasers Group confirmed suspicions that CEO Mike Ashley will be replaced next year by his daughter’s fiancé, Michael Murray, in the group’s financial update. 31-year-old Murray is currently the firm’s “head of elevation” and has been in charge of modernise the owner of Sports Direct and House of Fraser, as well as [...]
Brexit and Covid impact: More than 90,000 EU workers to have left UK hospitality jobs August 5, 2021 More than 90,000 EU workers left the UK’s hospitality sector in the last year, new figures have revealed. Fresh research from jobs site Caterer.com found that three out of five hospitality employers are now receiving record numbers of applications from UK workers. London was identified as acutely affected by the exodus with the research estimating [...]
John Lewis hikes lorry driver salaries by £5,000 amid driver shortages August 5, 2021 John Lewis has today announced that it will up the salaries of its lorry drivers by £5,000 a year as the current shortage of HGV drivers continues to weigh on the supermarket sector. The retailer said that the rise, which works out at roughly £2 an hour, came in response to the shortfall, which has [...]
Away and Aria Resorts to forge £600m staycation giant amid domestic travel boom August 4, 2021 Holiday park heavyweight Away Resorts has agreed to merge with UK rival Aria Resorts to forge a £600m staycation powerhouse, as pandemic restrictions continue to scupper foreign travel. A staycation boom has been looming ever since domestic restrictions lifted in the UK, however, chatter of amber and amber plus lists have put off many from [...]
Hearty: Kraft Heinz carried by packaged meal demand as it reinstates dividend August 4, 2021 Food giant Kraft Heinz has been carried by strong demand for snacks and packaged meals which has boosts sales and profits, pushing it past analyst forecasts. Kraft Heinz recorded net sales of $6.6bn in its second quarter to 26 June – inching past estimates of $6.5bn. The Chicago-based group is also set to reinstate a [...]
British beauty: THG bags makeup retailer Cult Beauty for £275m August 4, 2021 Digital brands group THG has bought British makeup retailer Cult Beauty for £275m, which has bolstered the group’s brand offering by a further 200. THG, which already owns Eyeko and Illamasqua, will also bag the online beauty retailer’s 1.7m customers and 1.6m Instagram followers – which prove to be quite the acquisition when dealing with [...]
Mike Ashley ‘set to step down’ as chief exec of Frasers Group August 3, 2021 Mike Ashley is reportedly set to hand control of his retail empire to his prospective son-in-laww after nearly 40 years in charge of Sports Direct. The Telegraph reported that the Frasers Group chief executive could confirm the decision alongside the firm’s results on Thursday. It is expected that he will become the deputy chairman of [...]
Covid app update ‘pretty pathetic’, says boss of Mr Fogg’s amid pingdemic staff shortages August 3, 2021 A modification to the NHS Covid 19 app has been dubbed “pretty pathetic” by one of the co-founders of Inception Group, who said isolation alerts had “changed the playing field” for London hospitality. Fewer Covid contacts are to be notified to self-isolate with individuals now notified if they have been in contact with someone in [...]
Amazon meddled with a union election, US labour watchdog says August 3, 2021 E-commerce giant Amazon has meddled with a union election by not ensuring ballot privacy and handing out paraphernalia that discouraged organising, according to the US labour watchdog. The National Labour Relations Board (NLRB) had been investigating a number of alleged illegal actions during Amazon’s union drive. In its latest report, the NLRB issued recommendations that [...]