Latest finance news – Page 98
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NewsHalf of customers set spending limits for Christmas presents
Half of UK customers are setting themselves spending limits on Christmas presents for children and partners this year as inflation continues to run rampant.
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NewsIceland founder Sir Malcolm Walker rebuffs takeover interest
Walker has seen “frequent approaches” for the chain and opportunistic investors buying its debt at a discounted rate
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NewsWilko in talks to secure £30m emergency loan
Wilko is on the hunt for a £30m cash injection as crippling cost pressures intensify in the run-up to Christmas.
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NewsTesco offers staff pay advances to help with cost-of-living crisis
Supermarket giant Tesco is offering staff advances in their pay to help them navigate key debt deadlines amid the ongoing cost-of-living crisis.
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NewsGovernment announces transitional relief scheme for business rates
The government has unveiled a transitional business rates relief scheme, a freeze on multipliers and increased support packages, but the next revaluation of rates will go ahead in April 2023.
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NewsBurberry unveils new British brand focus as profits and sales grow
Burberry has said it will refocus its branding on its British heritage under chief creative officer Daniel Lee, as sales and adjusted profits grew in the first half of the year.
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NewsLidl profits soar as customers switch millions of pounds to discounter
Lidl profits and sales have soared as deepening food inflation and the worsening cost-of-living crisis have seen hundreds of thousands of customers a week making the switch from supermarkets to the discounter.
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NewsJoules collapses into administration putting 1,600 jobs at risk
Fashion retailer Joules has collapsed into administration just days after talks over financing broke down putting 1,600 jobs at risk.
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NewsMade.com stock to be auctioned off in bid to recover cash for creditors
Made.com’s administrators have appointed auctioneers to help sell off its remaining stock.
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NewsCard Factory upgrades profit outlook as sales climb
Card Factory has raised its profit forecast for the full year following “stronger than expected” sales.
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NewsConsumer price inflation reaches new heights in October
Consumer price inflation has reached the highest level in 41 years, largely driven by fuel and food price rises.
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NewsWilko sells £48m distribution centre as it battles to shore up balance sheet
Wilko has completed the sale and leaseback of one of its distribution centres as it struggles to shore up its balance sheet after a bruising trading period.
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NewsMorrisons invests £3m in slashing prices on Christmas staples
Supermarket chain Morrisons has slashed the prices of 52 products it says “see a spike in sales” over the festive period, to help customers with the rising cost of living.
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NewsDebenhams administrators rake in more than £7m as fees spike
The administrators of collapsed department store chain Debenhams have raked in almost £2m in fees during the current financial year alone after a hike in fees.
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NewsTesco, Sainsbury's and M&S bosses call for business rates freeze
The bosses of some of the UK’s biggest retailers have urged chancellor Jeremy Hunt to freeze business rates as part of his autumn statement this week.
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NewsJoules to appoint administrators after financing talks collapse
Joules has filed a notice of intention to appoint administrators after last-ditch efforts to secure emergency funding collapsed.
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NewsAsda returns to growth as value ranges lure new shoppers
Asda has registered its best quarterly trading performance for 18 months as its value focus drove a return to sales growth.
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NewsMade.com staff take legal action after being made redundant on Zoom
Made.com employees who found out they were losing their jobs on a Zoom call are to take legal action over the way the redundancies were managed.
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NewsAmazon launches cost-cutting review of unprofitable business units
Amazon is carrying out a broad cost-cutting review that will pare back parts of the business that have not been profitable.
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NewsThe Works sales edge up despite cyber attack aftermath
Sales at The Works edged up despite an “increasingly challenging consumer environment” and the aftermath of a cybersecurity attack that forced it to close five stores earlier this year.