Asda is mandating that head office employees work on-site at least three days a week, while also announcing job cuts to streamline operations and stabilise its market position. The changes, communicated in an internal email by interim CEO Lord Rose, affect over 5,000 staff across Leeds and Leicester, taking effect from January 2025. Since Asda’s […]
The UK Treasury may have breached the law by withholding £9.5 billion in spending pressures ahead of Jeremy Hunt’s final Budget in March, according to Richard Hughes, head of the Office for Budget Responsibility (OBR). Hughes suggested that vital financial data on departmental budgets, required by the OBR under the Budget Responsibility and National Audit […]
The pound fell sharply against the dollar, dropping 1.4% to $1.285—its lowest in two months—as traders adjusted to the news of Donald Trump’s projected return to the White House. Known for his “America First” policies, Trump’s victory sent the dollar soaring, with gains of 2% against the euro and 1.8% versus the yen. Investors are […]
Pub chain JD Wetherspoon has warned that pint prices may increase as the company faces a £60 million surge in costs following Chancellor Rachel Reeves’s Budget. Founder Sir Tim Martin highlighted that rising costs from National Insurance (NI) and national living wage hikes are putting substantial pressure on the hospitality sector, prompting many pub businesses […]
Donald Trump is set to return to the White House as America’s 47th president after securing a projected 266 electoral votes, narrowly edging out his Democratic opponent, Kamala Harris. Trump celebrated what he called a “magnificent victory,” calling it the start of a “golden age of America.” In a defining moment of the election, Pennsylvania, […]
Asos has expressed confidence in its recovery strategy despite reporting a £380 million pre-tax loss for the past financial year. The online fashion retailer has halved its inventory levels since 2022 and shifted focus to full-price sales, aiming to improve profitability. Chief Executive José Antonio Ramos Calamonte described recent changes as “medicinal,” with measures such […]
Article content The final investment-grade bonds expected to be sold before the U.S. presidential election may come from north of the border as Canadian telecom Videotron Ltd. is the lone issuer to tap the market Monday. The Quebecor Inc. unit plans to issue a long 10-year note that may yield 1.60 percentage points above comparable […]
Sir James Dyson has strongly criticised Chancellor Rachel Reeves’ latest Budget, describing the new inheritance tax policy as a “spiteful” move that threatens the future of family businesses in the UK. Under the changes, family-owned businesses and farms worth over £1 million will face a 20 per cent inheritance tax starting in April 2026, a […]
High street retailers are preparing for a difficult Christmas trading period, as higher taxes and mounting costs raise concerns over the viability of many businesses in town and city centres. A recent report from advisory firm BDO revealed that in-store sales in October grew by only 1.7% compared to the previous year, highlighting the struggles […]
The Unite union has issued a stark warning to the UK government over its controversial decision to cut the winter fuel payment for millions of pensioners, threatening to pursue a judicial review if the policy isn’t reversed. Initially announced in July and confirmed in the latest budget, this policy aims to address a £22 billion […]