Frasers Group has warned Unite the Union against taking “reckless and irresponsible” industrial action after the trade body threatened strikes across the retailer’s warehouses in a dispute over pay. In a strongly worded letter to Unite general secretary Sharon Graham, Sir Jonathan Thompson, chairman of Frasers Group, said he was “extremely saddened” by what he described as the union’s “inflammatory and confrontational” tactics. “I therefore hope that you will wish to avoid rash action that...
Saudi Arabia has taken a decisive step toward becoming the world’s gaming hub after its $55 billion (£41 billion) acquisition of US game publisher Electronic Arts (EA) — the largest leveraged buyout in corporate history. The deal, orchestrated through the Public Investment Fund (PIF), the kingdom’s $700 billion sovereign wealth fund, gives Crown Prince Mohammed bin Salman control over one of the industry’s biggest names — and access to hit franchises including EA Sports FC,...
Electric vehicle (EV) sales in the UK hit a record high in September, boosted by new government subsidies that helped lure more buyers back into the market during the industry’s most crucial month of the year. According to preliminary data from the Society of Motor Manufacturers and Traders (SMMT), sales of battery-powered cars rose by nearly a third compared with a year earlier, reaching 72,800 units. September’s strong performance follows the government’s reintroduction of an...
Business activity across the UK slowed sharply in September as mounting anxiety over the government’s delayed autumn budget led companies and households to postpone investment and spending decisions. The S&P Global composite purchasing managers’ index (PMI) — a closely watched measure of private-sector health — fell to 50.1 from 53.5 in August, marking its weakest reading since early spring. While still marginally above the 50-point threshold separating growth from contraction, the latest data underline how...
Morrisons is introducing a new tracking system to monitor how quickly its shop floor staff stack shelves, as the supermarket embarks on a major operational overhaul to improve efficiency and win back shoppers. The new performance monitoring app, which is being rolled out across hundreds of stores, allows managers to see real-time data on staff productivity — including how fast employees unload and restock items. The tool highlights workers performing below the pace of their...
Britain’s leading banks have warned the government against capping the resale prices of concert and event tickets, claiming the move would push ticket touts and fraudulent sellers onto unregulated social media platforms. In a submission to ministers, UK Finance, the trade body representing Lloyds, NatWest, HSBC, Barclays and more than 300 other financial institutions, said proposed ticket price caps could backfire by driving “tout activity” away from regulated platforms such as Viagogo and towards sites...
Jaguar Land Rover (JLR) is preparing to inject up to £500 million into its supply chain to prevent a wave of insolvencies among parts makers after a cyberattack brought production to a standstill and left thousands of UK suppliers struggling for cash. The initiative, expected to be finalised within days, will see JLR lend directly to its first-tier suppliers through an invoice financing facility, providing immediate cashflow relief as the carmaker begins to restart operations....
Bitcoin broke through the $125,000 mark for the first time on Sunday, extending a powerful rally that analysts say could continue into the end of the year. The world’s largest cryptocurrency jumped 3 per cent in Asian trading to reach $125,245, propelled by institutional inflows, a weaker US dollar, and renewed political support for digital assets in Washington. The milestone follows months of sustained momentum for Bitcoin and the wider digital asset market, buoyed by...
The chief executive of Entain, the FTSE 100 owner of Ladbrokes and Coral, has warned the government that higher gambling taxes in next month’s Budget could lead to widespread betting shop closures and a sharp reduction in UK investment. In her first interview since taking the role permanently in April, Stella David said any increase in gambling duties would compel Entain “to consider its investment level in the UK”. She added there was “no doubt”...
Sir Jim Ratcliffe’s chemicals empire, Ineos, has introduced a company-wide hiring freeze as it prioritises debt reduction following years of rapid expansion and weakening market conditions. The British-founded group confirmed a “general recruitment freeze” while tightening capital spending after acquiring assets worth around €2.7 billion across the US, Europe and Asia between 2022 and 2024. The move comes as Ineos grapples with overcapacity in the chemicals market, new US tariffs and falling prices that have...
