Category: <span>Business</span>

Grand reopening: retailers ready for return of shoppers
Post

Grand reopening: retailers ready for return of shoppers

At Hamleys they are unboxing the teddies, vacuuming the Frozen castle and practising dance routines. John Lewis is cleaning its fitting rooms and beauty counters, while Debenhams is preparing for its closing down sale. After at least 15 weeks of lockdown – more in many parts of the UK – high streets are preparing to reopen on Monday....

Soft drinks too weak? Time to try hard seltzer
Post

Soft drinks too weak? Time to try hard seltzer

It’s a fizzy, low-calorie, often fruit-flavoured alcoholic drink, and rapper Travis Scott and chef Gordon Ramsay own brands. American millennials are more likely to have drunk a White Claw hard seltzer in the past 30 days than any other drink with the exception of Bud Light or Corona. Now experts are predicting big things on this side of the...

Britons pay back most on debt in 27 years as credit card spending slumps
Post

Britons pay back most on debt in 27 years as credit card spending slumps

A slump in credit card spending in February dragged down UK consumer credit growth to a 27-year low as the second month of the latest coronavirus lockdown restricted the scope for shoppers to spend in high streets and on outdoor activities. With people paying back more than they borrowed, consumer credit growth fell by 9.9% annually –...

Cineworld to reopen UK cinemas in May and US Regal theatres at Easter
Post

Cineworld to reopen UK cinemas in May and US Regal theatres at Easter

Cineworld, the world’s second-largest cinema operator, will reopen its screens in the US next month to coincide with the new film releases Godzilla vs Kong and Mortal Kombat, and has struck an exclusivity agreement with Warner Bros. Cineworld, whose cinemas have been shut for the past six months because of the Covid-19 pandemic, said some...

Elon Musk changes his Tesla job title to ‘technoking’
Post

Elon Musk changes his Tesla job title to ‘technoking’

Elon Musk, the billionaire chief executive of Tesla with a penchant for eccentric behaviour, has changed his job title to “technoking” of the electric car manufacturer. In addition to Musk, who also retains his position as chief executive, the company’s financial chief, Zach Kirkhorn, has been rebranded as “master of coin”. Kirkhorn’s job title change...

Uber drivers are workers entitled to holiday pay, Supreme Court rules in landmark gig economy decision
Post

Uber drivers are workers entitled to holiday pay, Supreme Court rules in landmark gig economy decision

Uber drivers must be treated as workers, not self-employed contractors, the Supreme Court has ruled in a landmark decision which could have far-reaching implications for millions of people in the UK’s gig economy. The country’s most senior court rejected Uber’s appeal against an earlier decision after legal action brought by two drivers, James Farrer and Yaseen Aslam. Mr Aslam said...

Norwegian axes long-haul flights and cuts 1,100 Gatwick jobs
Post

Norwegian axes long-haul flights and cuts 1,100 Gatwick jobs

Norwegian has announced it will no longer fly long-haul routes, even after the pandemic, bringing an end to its low-cost, long-haul vision and spelling the loss of about 1,100 jobs based at Gatwick airport. The airline said it would retrench to a short-haul European network and domestic Norwegian routes for good, as it outlined its...

M&S Christmas sales slide as retailer warns of Brexit red tape’s ‘significant impact’
Post

M&S Christmas sales slide as retailer warns of Brexit red tape’s ‘significant impact’

Marks & Spencer’s sales fell more than 7 per cent in the run-up to Christmas as the retailer suffered from the November lockdown in England and tightened restrictions across much of the rest of the UK. Clothing and home sales plunged 24.1 per cent while the food division grew 2.6 per cent in the final quarter of the year. During the English...

Elon Musk becomes world’s richest person
Post

Elon Musk becomes world’s richest person

Elon Musk, the maverick boss of Tesla, has overtaken Amazon’s Jeff Bezos to become the world’s richest person, after shares in the electric car company he co-founded soared on hopes that a Democrat-controlled US Senate would usher in a new green agenda. A 4.8% rise in Tesla’s share price was enough to push Musk into...

Ladbrokes owner’s shares leap after it rejects £8.1bn MGM bid
Post

Ladbrokes owner’s shares leap after it rejects £8.1bn MGM bid

The gambling company behind Ladbrokes and Coral has rebuffed an £8.1bn takeover proposal from its US partner, MGM Resorts, as the arrival of legal sports betting in the US continues to fuel transatlantic dealmaking. Entain said the offer from MGM, the owner of the Bellagio casino in Las Vegas, significantly undervalued the company and its prospects. Shares...