Budgens is closing more than 30 stores March 7, 2017 More than 30 Budgens stores are set to close as Food Retailer Operations Limited (FROL) has gone into administration, putting 815 jobs at risk. FROL operates 34 Budgens stores, having bought them from the Co-op in July last year. Nine outlets were closed over the weekend, and the final 25 will close their doors over the [...]
Supermarket sales grew at their fastest rate since June 2014 in the last 12 weeks March 7, 2017 Supermarket sales were growing at their fastest rate since June 2014 over the past three months as inflation started to bump up prices for key items such as tea, butter and fish. According to data from Kantar Worldpanel, supermarket sales grew by 2.3 per cent year-on-year for the 12 weeks ending 26 February. Kantar said [...]
These are the three London areas where house prices fell in January March 3, 2017 House prices are steadily climbing in most parts of the capital – but tax changes on high-end homes have been pushing down values in the city's most central locations. According to data from Hometrack, there were three local authority areas in London where house prices fell year-on-year in January: London local authority House price change [...]
Analysts react to WPP’s share slide March 3, 2017 WPP posted record revenues in 2016, but the advertising giant's shares fell by more than seven per cent this morning after it warned that economic growth in the year ahead would be "tepid". The media group headed up by Sir Martin Sorrell set a conservative growth estimate of two per cent for revenue and net sales in [...]
Business activity is growing at its slowest pace since September 2016 March 3, 2017 Business activity is growing at its slowest pace since September 2016, according to a survey of managers, suggesting that UK economic activity has "lost momentum". IHS Markit's purchasing managers' index for the services sector fell to 53.3 in February – any figure below 50 denotes contraction. The measure was down on the month before, when output stood at [...]
The best pint bar none: Camra names Yorkshire local Britain’s pub of the year March 3, 2017 A Yorkshire pub that was saved from extinction by local villagers has been crowned Britain's pub of the year. The award from the Campaign for Real Ale (Camra) was given to the George & Dragon pub in Hudswell. The pub closed in 2008, and the local community was left with just a village hall. But, [...]
General inflation is now outpacing rent rises March 3, 2017 Inflation is now outpacing rental price growth in the UK, and, in London, rents have barely changed over the last year. According to data from Homelet, UK rents grew on average by 0.8 per cent annually in February, and in London rents edged up by just 0.4 per cent. Overall inflation is now at 1.8 per [...]
House of Commons committee tells Pensions Regulator to up its game after BHS March 3, 2017 The MPs' committee that investigated the collapse of high street giant BHS has told the Pensions Regulator that it must be "nimbler" and "more assertive" to avoid a similar crisis in future. The work and pensions committee has been pushing for reform of the pensions watchdog, but has said the body's response has been "light" and that [...]
Sports Direct’s Mike Ashley lands Agent Provocateur deal March 2, 2017 Agent Provocateur has been snapped up by a company part-owned by retail tycoon Mike Ashley, owner of Sports Direct. Alix Partners were appointed as administrators of the company today and immediately sold it to Four Holdings, which is 25 per cent owned by Sports Direct. Ashley fought off private equity firm Lion Capital to secure the deal, and [...]
Formula 1 plans to move to a new global HQ in St James’s Market March 2, 2017 Formula 1 is moving its global headquarters from Knightsbridge to a £400m development in the West End. The motorsports business will be taking up 21,000 square feet of space over two floors of a redevelopment by the Crown Estate and Oxford Properties called St James's Market. It is expected to make the move later this [...]
