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JD Sports lines up former B&Q executive Schultz as next CEO
A former executive at the DIY retailer B&Q is being lined up to take the helm at JD Sports Fashion, Britain’s biggest sportswear retailer by market value.Sky News has learnt that the Lancashire-based company is close to finalising the appointment of Regis Schultz as its new chief executive. City sources said on Tuesday that the …
Business
Evening Standard
Time for a clampdown on big tech overlords
A WARM welcome to Sarah Cardell, who starts as interim CEO at the Competition and Markets Authority today.What should be top of her inbox, but almost certainly isn’t, is a proper crackdown on our big tech overlords.As General Counsel, Cardell did launch a probe into Amazon earlier this month, looking at if the way it …
Business
Evening Standard
Amazon hikes Prime subscription for first time since 2014
Amazon is to hike the cost of its Prime packages despite global cost of living squeeze citing “inflation” and “operating costs” for the first rise in the service since 2014.The e-commerce giant will raise the subscription that offers free next day delivery, entertainment and live sport events by £1 from £7.99 a month to £8.99 …
Business
Evening Standard
Unilever braced for drop in efficiency as inflation hits company profits
Maker of Ben & Jerry’s ice cream and Hellmann’s mayonnaise, Unilever, posted a drop in operational efficiency as inflation takes a bite out of corporate profits.The consumer goods company saw revenue grow 8.1% in the first half of 2022 to top £25 billion, ahead of previous guidance, while profit margins dropped 180 basis points to …
Business
Sky News
What uses the most water in our homes, where does our water come from and what happens during a drought?
With the UK bracing itself for another heatwave, there are warnings parts of the country could experience droughts this month.The first heatwave and the driest July on record in parts of the country have already seen England’s drought level increased to the ‘prolonged dry weather stage’. Further periods of no rain could see this pushed …
Business
Sky News
Consumer goods giant thanks raising prices for profits boost
Unilever, the consumer goods giant behind brands including Marmite and Magnum ice creams, has reported a leap in underlying sales thanks to price rises.The company said it was raising its full-year sales guidance after recording an increase of 8.1% during the first six months of the year. The growth was achieved thanks to average price …
Business
Sky News
Heathrow and easyJet reveal huge financial hits after flight chaos
Heathrow Airport and easyJet, two of the air industry players affected by this year’s flight chaos, have revealed large financial hits while outlining how they are coping during the summer rush.The low-cost carrier said cancellations and delays caused by staff shortages at airports and in the air had cost it £133m over its latest quarter …
Business
Sky News
Fibre broadband player Gigaclear digs deep in hunt for new funding
Gigaclear, the fibre broadband network provider, is plotting to raise hundreds of millions of pounds of further funding amid an industry-wide race to modernise Britain’s communications infrastructure.Sky News has learnt that Gigaclear is working with bankers at Rothschild to raise between £200m and £300m of additional capital for its rollout. The capital-raise, which could comprise …
Business
Sky News
Zimbabwe launches gold coins as legal tender to tackle hyperinflation
Zimbabwe has launched new gold coins to be sold to the public in a bid to tackle chronic hyperinflation.The gold coins – called Mosi-oa-Tunya – will have “liquid asset status”, meaning they can be converted to cash, traded locally and internationally, and used for transactions, the Reserve Bank of Zimbabwe said. People can only trade …
Business
Sky News
London narrowly avoided blackout during heatwave by paying Belgium a record price for electricity
London nearly had a power blackout last week, forcing the UK to pay Belgium a record price for electricity to keep the capital connected.National Grid’s Electricity System Operator (ESO) paid £9,724.54 per megawatt hour – more than 5,000% higher than the usual price – to avoid an outage in southeast London last Wednesday, as first …
Business
Sky News
Spicy acquisition shows Premier Foods has regained its confidence
It seems remarkable, given that chicken tikka masala is now considered one of the UK’s national dishes, that polling suggests many people in this country have never actually tried to cook a curry.That was the logic deployed by Anjum Anand, the TV chef and cookery writer, when she and her businessman husband, Adarth Sethia, set …
Business
Sky News
Is now a good time to buy a house – or is it better to keep renting?
House prices have hit record highs, with many buyers facing a dilemma… should they commit now, or wait for prices to go back down?In July, surveyors said they saw the first signs the market is beginning to cool. In its monthly survey, the Royal Institution of Chartered Surveyors (RICS) found that 27% of professionals reported …

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