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Sky News
John Lewis Partnership ‘forgoing profit’ to help customers and partners
The John Lewis Partnership says it is “forgoing profit” to help customers, partners and suppliers navigate the challenges of the cost of living crisis.The employee-owned company, comprising the eponymous department store chain and Waitrose supermarkets, reported a loss of £99m for the half-year to 30 July compared to a red figure of £29m a year …
Business
Sky News
Chancellor may scrap cap on bankers’ bonuses to boost City’s competitiveness
Chancellor Kwasi Kwarteng is considering a plan to scrap caps on bankers’ bonuses as part of a post-Brexit bid to boost the City’s competitiveness and the UK economy, Sky News understands.He argues the cap, which was introduced under EU rules in 2014 following the 2008 financial crisis and subsequent eurozone debt crisis, would make London …
Business
Sky News
Why new path for inflation could mean UK avoids a deep recession
It may still be as near as you can get to double figures.It may yet be heading higher still. It may be squeezing households across the country, but squint a little bit and there’s some good news in Wednesday’s inflation data. For the first time in a long time, not only did the rate at …
Business
Sky News
McDonald’s and Greggs to close for Queen’s funeral
McDonald’s has announced it is to close for the Queen’s funeral to allow staff to “pay their respects”.The fast food chain tweeted that on Monday, its UK restaurants will be shut from midnight until 5pm.It has taken the action “in honour” of Her Majesty and to “enable everyone at McDonald’s to pay their respects”.The Queen …
Business
Business Live
Tommee Tippee baby products owner sees profits jump amid global growth
The North East owner of baby brand Tommee Tippee has seen its profits jump 77% on the back of global growth and new product development. Mayborn Group, which has more than 1,100 staff around the world, has it head office in Balliol Business Park in Newcastle, overseeing the group’s popular brands including Tommee Tippee baby …
Business
Business Live
Acquisitions boost bottom line for Gateley
A trio of acquisitions has boosted a positive year at legal services group Gateley. The listed group said revenue had climbed year on year from £121.4 million to £137.2 million for the 12 months to April 30, 2022. Pre-tax profit for the period also rose, from £16.3 million to £18 million. Chief executive Rod Waldie …
Business
Business Live
Trio of Teesside residential portfolios sold in £7m investment deal
A trio of North East property portfolios has been sold for more than £7m in an investment deal. Houses with a total of 317 bedroom have been sold in the multimillion-pound transaction, which involved a private client of property firm Avison Young. The sale of the three off-market residential portfolios involved homes in Middlesbrough and …
Business
Business Live
Redrow reports strong financial year as profits return to pre-Covid levels
Housebuilder Redrow’s annual profits have returned to pre-pandemic record levels. The FTSE 250 business saw a strong financial year to 3 July 2022, but cautioned over a cooling housing market amid the cost-of-living crisis. In its financial results, the Flintshire-headquartered firm reported a 31% rise in pre-tax profits to £410m, returning to the all-time highs …
Business
Sky News
Businesses to learn next week how the government will help with energy bills
Businesses will learn next week about how the government will help them to navigate the energy crisis.A spokesman for Prime Minister Liz Truss said on Wednesday that the scheme will help businesses with October bills and will be backdated if implementation is delayed. He said: “We will confirm further details of the business support scheme …
Business
Business Live
Green light tipped for landmark offices next to Co-op’s headquarters
Plans to build landmark offices next to the Co-op’s headquarters in Manchester city centre have been recommended for approval. Applicant NOMA is behind the scheme for 2 and 3 Angel Square which would together include around 440,000 sq ft of office space and accommodate 4,400 workers. The proposals come after 1 Angel Square, where the …
Business
Evening Standard
FOMO fuels scotch sales boom at Artisanal Spirits
The “FOMO factor” is boosting sales at Scottish Malt Whisky Society owner Artisanal Spirits as customers race to get their hands on the latest limited edition Scotch.Revenue at the firm, which has a whisky club outpost in Farringdon, swelled 25% to £9.9 million in the first half of 2022, while membership of the society grew …
Business
Evening Standard
Dunelm sales leap as it navigates ‘challenging’ economic environment
Value homeware and furnishings retailer Dunelm has recorded bumper annual profits and sales but said it is prepared for the “challenging environment” of cost of living challenges and inflationary pressures ahead.Pre-tax profit at the group hit £209 million across the year a boost of 34.9% and sales leapt by almost a fifth to £1.55 billion …

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