Tesco has warned that the UK grocery sector faces an intensifying price battle in the run-up to Christmas, even as it raised its full-year profit forecast after winning market share over the summer. The UK’s largest supermarket group now expects to deliver annual profits of up to £3.1bn, £100m higher than previous guidance, after its decision to cut prices on 6,500 products by an average of 9% drew in more customers. Tesco said its grocery...
London’s business community is facing a new and costly challenge. A recent surge in bed bug infestations has created significant headaches for landlords, property managers and small business owners across the capital. From rental flats to serviced apartments and boutique hotels, infestations are spreading faster than many can contain — and the financial consequences are mounting. Reports of bed bugs are not limited to residential tenants. Offices with soft furnishings, shared workspaces and even retail...
The government will fast-track legislation to permanently ban fracking in the UK, in a move designed to block Reform UK’s pledge to revive the controversial practice. Ed Miliband, energy secretary, confirmed the ban will be introduced as part of the North Sea transition plan, due this autumn. Any future attempt to restart fracking would require a parliamentary repeal, forcing MPs — many representing constituencies above shale gas deposits — to vote in favour of drilling....
Greggs is increasing prices on some of its best-known menu items as the bakery chain seeks to offset rising employment costs while managing softer sales growth. From Thursday, customers will pay 5p more for certain baked goods such as the empire biscuit, while breakfast deals will also rise in price. The two-part breakfast deal, which includes a roll and a drink, will increase from £2.95 to £3.15, while the three-part version, adding a side like...
There have been long-standing concerns about the use of Non-disclosure agreements (NDAs), particularly relating to sexual harassment allegations. Those concerns have grown with the momentum of the MeToo movement. The use of NDAs stands at a critical crossroads. Imminent and future legal reforms are poised to fundamentally alter their scope and enforceability in the context of discrimination and harassment. NDAs have historically been used as a crucial way of maintaining corporate confidentiality and protecting intellectual...
Nivoda, the B2B diamond and gemstone marketplace, has secured a $60 million financing facility from i80 Group to provide embedded trade credit to jewellery retailers across more than 70 countries. The deal addresses a critical shortage of working capital in the diamond industry after traditional lenders retreated from the sector, leaving small and mid-sized retailers struggling to finance inventory purchases. For more than a decade, the industry has faced a liquidity crunch as banks scaled...
Daniel Ek, the billionaire founder of Spotify and one of Europe’s most successful technology entrepreneurs, is stepping back from the day-to-day running of the company he launched nearly two decades ago. From January 2026, Ek will move into the role of executive chairman, with long-time lieutenants Gustav Soderstrom and Alex Norstrom jointly assuming the position of co-CEOs. The decision comes as Spotify enjoys a new period of stability, with nearly 700 million monthly active users...
Royal Mail has announced it will double its apprenticeship support for small businesses, gifting another £1 million of its levy to help SMEs upskill their workforce. The move follows the success of its first £1m funding round, which was oversubscribed earlier this year. The new funding is open to SMEs with up to 250 employees that sell products online. It forms part of Royal Mail Means Business – a nationwide campaign launched to champion UK...
British brands are failing to unlock an estimated $10 billion in value by relying too heavily on short-term marketing tactics and struggling to differentiate themselves, according to the latest Kantar BrandZ Top 75 Most Valuable UK Brands report. Globally, brand contributes 33% of company value on average, but in the UK that figure slips to 29%, highlighting a significant gap in long-term brand building. While UK brands are generally well known and successful at meeting...
PPE Medpro has been ordered to repay nearly £122 million to the Department of Health and Social Care (DHSC) after losing its High Court case over the supply of sterile gowns during the Covid-19 pandemic. The company’s principal backer, Doug Barrowman, has responded with a blistering statement accusing the government of political scapegoating and the court of delivering a “travesty of justice”. In her ruling, Mrs Justice Cockerill found that the gowns supplied by PPE...
