Publisher Pearson said sales of its textbooks and virtual learning offerings were boosted by increased demand for online learning, among adults and schools. Sales increased 12 per cent to £3,841m during the full year 2022 compared to £3,428m the previous year. Operating profit in the preliminary results were £271m, compared to £183m in 2021. This […]
The return of the office commute helped to bring people back to high streets and town centres last month, but shopper numbers remain stubbornly below pre-pandemic levels, new figures show. The number of people going to shops was up 10.4 per cent last month, compared with February last year, but is 8.8 per cent down […]
London City airport will become the UK’s first to scrap restrictions on travelling with liquids — and in time for the Easter holidays. Airport bosses said all four of its security scanners will be upgraded to new-generation CT machines, similar to those used in hospitals, by the end of March. The move will allow passengers […]
WH Smith has been hit by a cyber attack that has resulted in hackers gaining access to private company data. The stationary store and book seller, which has over 600 high street shops in the UK, said it has launched an investigation into the attack. The retailer said however, that customer data was not affected […]
Jaguar Land Rover’s owner, Tata Motors, has reportedly asked the UK government for more than £500m in state subsidies to build a battery factory in Somerset, in a move seen as crucial to the future of the British car industry. Tata, the Indian conglomerate that owns Jaguar Land Rover (JLR), has asked for the money […]
The Bank of England governor, Andrew Bailey, has signalled interest rates may have peaked after 10 successive increases in the official cost of borrowing since December 2021. Speaking in London, Bailey said Threadneedle Street would assess the impact of tighter policy on the economy before sanctioning any fresh moves. However, the governor also warned that […]
The rising cost of borrowing has boosted earnings at Co-operative Bank, which recorded a fourfold rise in profits last year. The bank, which is no longer part of the Co-operative Group, said that pre-tax profits surged in 2022 to £132.6 million, up from £31.1 million in 2021. It is the second consecutive year the bank […]
Chain stores are closing at their slowest rate for eight years, new research shows. A total of 11,530 outlets shut across Great Britain in 2022. That’s an average of 32 closures a day. But it’s a big improvement compared with the previous three years, according to data compiled for the accountancy firm PwC. Banks saw […]
Sainsbury’s is planning to close two Argos distribution centres, putting up to 1,400 jobs at risk, and will ditch the catalogue shop’s Milton Keynes head office and three remaining Habitat showrooms to cut costs. The retailer said it expected to close the warehouses in Basildon, Essex and Heywood, Greater Manchester, by 2026 leaving three non-food […]
Grocery prices inflation reached a high of 17.1 per cent last month, with the fastest rises recorded in essentials such as milk, eggs and margarine. The increase in food costs in the four weeks to February 19 would add a potential £811 to annual shopping bills, according to the data gathered by Kantar, the market […]