Tesco, the UK’s largest supermarket, is cutting prices as inflation eases, while profits rise and market share grows.The retailer has reduced prices on thousands of products, continuing to work closely with suppliers for cost efficiency.Tesco’s competitive pricing strategy has maintained its position as the most affordable traditional supermarket for nearly two years.The company’s market share has increased to 27.8%, showing growing dominance in the UK grocery market.Tesco anticipates a robust festive season backed by a strong profit forecast and customer loyalty initiatives.As inflationary pressures ease, Tesco has announced a strategic move to reduce the pricing on thousands of its products.…
Author: Dave Antrobus
The Solicitors Disciplinary Tribunal (SDT) challenges the Solicitors Regulation Authority (SRA) over proposed fining powers.The SRA’s proposals aim to introduce two new tiers of fining bands, potentially allowing fines up to £500,000.Critics argue that these changes could allow wealthier firms to see fines as mere transactional costs.The SDT insists that it provides a more consistent and transparent disciplinary process.Questions arise regarding the necessity and legality of the SRA’s proposed changes.The Solicitors Disciplinary Tribunal (SDT) has voiced strong opposition to the Solicitors Regulation Authority’s (SRA) plans to implement new fining powers, which could allow the authority to impose fines up to…
PwC has confirmed plans for a new headquarters in Cardiff, aiming to expand its workforce significantly.The new office at One Central Square is part of a broader scheme centred around Cardiff Central Train Station.PwC has leased a significant portion of the building previously occupied by MotoNovo Finance.The relocation aligns with PwC’s regional strategy to invest in skills and improve social mobility.The move signals continued investment and growth opportunities within Cardiff’s evolving business landscape.In a strategic move towards enhancing its regional presence, PwC has announced the establishment of a new headquarters in Cardiff, with an ambition to expand its workforce by…
Legal action by Tata Consumer Products against striking workers raises concerns over alleged trespassing.The workers entered Tetley’s Teesside site, reportedly violating picketing rules and intimidating managers.GMB Union warns of potential tea shortages due to the ongoing strikes and planned further actions.Tata insists strike actions should remain peaceful, with clear guidelines for conduct communicated to employees.Court hearing set as Tata implements measures to minimise supply disruptions amid the ongoing dispute.Tata Consumer Products has initiated legal proceedings against striking workers at Tetley’s Teesside production site in County Durham, citing trespass as the primary grievance. The company claims that the workers engaged in…
An official report sheds light on the effectiveness of Covid grants provided to UK businesses.The Department for Business and Trade reveals only 25% of recipients required aid to survive.Concerns arise over government spending efficiency and potential fraudulent claims.The report acknowledges the role of grants in safeguarding jobs and economic confidence.The government commits to addressing waste and reviewing lessons for future crisis management.The analysis from the Department for Business and Trade has uncovered that only 25% of the 1.4 million UK businesses that received state support during the Covid pandemic were in genuine need of the grants to avert collapse. This…
Adidas UK has reported a notable decline in its sales revenue for 2023.The company’s turnover fell to £1.15bn, down from £1.23bn in 2022.Wholesale and online sales experienced significant drops, contributing to the overall decrease.There was, however, a positive growth in retail store sales by £14.9m.Adidas remains optimistic about future prospects despite current challenges.During its recent financial year, Adidas’s UK division encountered a sales reduction of over £100m, marking a downturn from a turnover of £1.23bn in 2022 to £1.15bn in 2023. The downturn was primarily influenced by a significant £88m decrease in wholesale revenue and a £37.7m drop in online…
The Bank of England has issued a cautionary statement regarding the potential onset of a credit crunch in the UK, attributing this risk to several global market vulnerabilities.Concerns over medium-term economic growth and geopolitical tensions are heightening risks.Volatile markets persist despite a decrease in interest rates, affecting households and businesses alike.Rising betting activity against US Treasuries signifies looming financial instability.The Bank urges financial institutions to prepare for potential market shocks.The Bank of England, through its Financial Policy Committee (FPC), has highlighted several global risks that may culminate in a credit crunch for the UK. Among these are concerns about economic…
Schofield Sweeney is enhancing its commitment to fostering new legal professionals by welcoming a new group of solicitor apprentices and trainees.The firm received a record number of applications this year, promoting social mobility through its training programmes.This marks the firm’s second cohort of solicitor apprentices, selected from over 140 applicants for a six-year programme.The new apprentices will gain experience in various departments, reflecting the firm’s diverse legal expertise.Three new trainees have also joined the firm, underscoring its dedication to nurturing young legal talent.Schofield Sweeney, renowned for its commitment to workforce diversity and development, has embraced a new cadre of legal…
Vision International Holdings turns a profit after previous losses, showcasing a significant turnaround.The historic Lewis’s brand plays a crucial role in boosting Vision International’s financial results.Despite a slight decline in sales, the company reports a notable pre-tax profit for 2023.TJ Hughes relocates its flagship store and continues to expand across the UK amidst challenging conditions.The group takes strategic measures to control costs and leverage market opportunities despite economic challenges.In an impressive recovery, Vision International Holdings, the parent company of Liverpool’s renowned discount retailer TJ Hughes, reported a pre-tax profit of £430,000 for 2023. This marks a substantial improvement from the…
Fittingsco, founded by ex-Team GB swimmer Dan Briggs, gains NPIF backing.The investment supports Fittingsco’s expansion and stock increase plans.Founded in 2017, the firm markets furniture fittings from handles to lights.Dan Briggs combines athletic tenacity with business acumen to grow Fittingsco.The support from NPIF aids SMEs in Northern England to achieve growth.Fittingsco, the brainchild of former Team GB swimmer Dan Briggs, has successfully secured investment from the Northern Powerhouse Investment Fund II (NPIF II) to facilitate its expansion. Established in 2017, the company operates out of Chadderton and specialises in a range of furniture fittings, including hinges, drawer systems, and LED…