After 97 years John Lewis is ditching its “never knowingly undersold” price pledge after admitting that it was no longer suitable in the era of online shopping.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
Ukraine crisis: Microchip producers shrug off supply fear
Leading chip manufacturers have said that they are prepared for any immediate disruption caused by the Russia-Ukraine conflict to the supply of materials used to make the microprocessors that power cars, smartphones and computers.
Fintech Founders attack government for inaction on closing funding gap
A body representing some of the UK’s leading fintech bosses has attacked the government for inaction in closing a significant growth funding gap in the sector, in a new report released today.
British Airways owner IAG closes losses as it heads towards recovery
British Airways owner International Airlines Group (IAG) said a “recovery is underway” today as it closed losses for the year and reported a rise in passengers.
Rishi Sunak receives Partygate questionnaire from Met police
Rishi Sunak has been sent a questionnaire by the Metropolitan police over his attendance at a birthday party held for Boris Johnson while tough Covid restrictions were in force.
Co-op Bank triples bonus pot after turning first profit since 2011
The Co-operative Bank has more than tripled its bonus pot for bankers after a “milestone year” that resulted in its first profit in a decade.
Brompton Bikes plans £100m wetland factory on stilts
Brompton has revealed plans to invest as much as £100m in a new UK factory that will secure its place as the UK’s biggest bicycle manufacturer.
Bonuses return at Lloyds Banking Group as profits surge fivefold to £6.9bn
Bonuses are back for Lloyds bankers, after annual profits jumped more than fivefold last year.
Toys’ R’ Us set to make a comeback to Britain’s High Streets ‘within months’
Toys ‘R’ Us is set for a return to the Great British High Street ‘within months’ after bosses signed a deal to bring the brand back to the UK.
Giant batteries will provide surge of electricity storage
Britain’s capacity to store electricity in giant batteries is set to double after dozens of new projects won contracts through a government scheme to keep the lights on.
Investors have a big appetite for Gousto
Gousto, a UK meal-kit box service, has raised a further $230 million a month after sealing its unicorn status with a $100 million placing.
Aston Martin skids to new lows despite cutting its losses
Aston Martin Lagonda saw its shares skid to fresh 16-month lows in spite of the London stock market’s only listed carmaker insisting that better efficiency at its factories in Warwickshire and south Wales will lead to higher margins and put the company on the road to profitability.
Southern Water offer discount to customers following Bob Geldof sewage row
Some of the residents who were encouraged by Bob Geldof to refuse to pay their water bills in protest at sewage spills have been given a discount by the water company.
Beckham-backed electric vehicle startup hits $200m valuation
An ‘upcycled’ electrical vehicle startup backed by David Beckham has hit a $200m valuation today, as it closed a private funding round to pump into a major manufacturing facility.
UK fraudsters took advantage of two-thirds more victims during Covid
The number of UK fraud cases worth more than £100,000 jumped by two-thirds (66 per cent) between 2020 and 2021, according to new figures from KPMG’s UK Fraud Barometer.