Our Stories
- Retail veteran warns of high street “death spiral”
- Tesco exec who sold shares moved from role
- Tesco market share slips
- UK consumer confidence recovers
- Gary Speed talked of suicide before death
- Tesco scraps carbon-label pledge
- UK university applicant numbers fall 8.7%
- Stelios blasts easyJet bonuses
- Train staff to get Olympic bonus
- New house buyers drop by 10.5 per cent
- US economy sees fourth quarter growth increase
- Olympic Games will hit energy and transport plans
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A veteran retailer has encouraged the government to reject the ‘Queens of Shops’ Mary Portas’s plans to save the UK’s embattled high street, warning that many shopping streets are already “in a death spiral”. Majestic Wine chairman Phil Wrigley, who has been a director at Debenhams, BHS and New Look, compared high streets with the [...]
2nd Feb 12
Tesco exec who sold shares moved from role
by Natasha Redman
The Tesco executive who caused controversy by selling 50,000 shares in the retailer just days before it issued its first profit warning in over two decades has been removed from his old role. The UK chief operating officer Noel ‘Bob’ Robbins’ decision to sell the shares broke no stock market laws but came as a [...]
1st Feb 12
Tesco market share slips
by Adam Richards
Tesco saw its market share fall below 30 per cent for the first time in almost seven years as it found it difficult to compete with cheaper rivals, revealed the latest figures. The retailer’s drop in the share of the market, to its lowest point since May 2005, came during a period when Sainsbury’s achieved [...]
31st Jan 12
UK consumer confidence recovers
by Adam Richards
The economy received a welcome boost in January after a leading survey indicated that there was a marked improvement in consumer confidence. GfK NOP, the market research firm said that consumer confidence increased between December and January by four points to minus 29, its highest mark since June 2011, after improvement in people’s own finances [...]
31st Jan 12
Gary Speed talked of suicide before death
by Natasha Redman
Gary Speed, the former football manager of Wales, texted his wife just days before he was found dead and talked about taking his own life, heard an inquest. The 42-year-old, who played for Leeds, Everton, Newcastle, Bolton and Sheffield United, was found hanged by his wife Louise at their home in Cheshire on 27 November [...]
31st Jan 12
Tesco scraps carbon-label pledge
by Katie Naylor
Tesco has scrapped its plan to have all its products labelled with their carbon footprint, claiming the amount of work required and the fact that other supermarkets did not follow suit were to blame. In January 2007, Tesco’s then-chief executive Sir Terry Leahy spoke of a “green consumption revolution” with the company vowing to attach [...]
31st Jan 12
UK university applicant numbers fall 8.7%
by Harry Oldfield
The UK university applicant number has fallen by 8.7 per cent – although school leavers have not been put off by the tuition fees tripling, with the sharper decline being among the more affluent candidates in comparison with those from less privileged backgrounds, show official figures. The controversial decision to allow universities to increase undergraduate [...]
31st Jan 12
Stelios blasts easyJet bonuses
by Adam Richards
Sir Stelios Haji-Ioannou, the founder of easyJet, has denounced the airline’s executives over the size of their bonuses. Sir Stelios, whose family has a stake of 38 per cent in the carrier, has tabled a motion for the annual meeting in February blocking a proposed pay deal. However, press reports have indicated that the board [...]
30th Jan 12
Train staff to get Olympic bonus
by Paul Russell
Staff on London’s Docklands Light Railway will be paid a weekly bonus of £100 just for going into work during the Olympic Games. The RMT union secured the agreement on behalf of its 550 members, and it dwarfs previous deals tied up by tube drivers and many other transport workers during the Olympics. It will [...]
30th Jan 12
New house buyers drop by 10.5 per cent
by Natasha Redman
There has been no respite for the struggling property market as the amount of new buyers fell by over 10 per cent in January compared with the previous month. Property analytics firm Hometrack’s latest monthly survey revealed that the amount of new buyers who registered with estate agents dropped by 10.5 per cent in January, on [...]