Author: Sam Allcock

UK high street retailers face a difficult festive season due to increased taxes and rising costs.Sales growth in October was minimal, posing challenges for retailers even before the recent budget.A £25 billion tax hike on employers could impact the high street significantly.Higher National Insurance and minimum wage increases are adding to retailers’ financial burdens.These challenges may force retailers to reconsider their high street presence, impacting town centres.The recent BDO report highlights the minimal growth in in-store sales, which increased by only 1.7% in October compared to the previous year. This indicates the struggles retailers are experiencing even before the implementation…

Six fresh suppliers are set to feature on Co-op’s shelves this month, marking the latest chapter in the Apiary mentoring and support programme.Co-op’s Apiary incubator programme has announced the arrival of six new suppliers, expanding its list of vendors with unique and diverse offerings. These brands are poised to be available in over 100 Co-op stores, offering consumers innovative choices in food and drink. This initiative is part of Co-op’s latest wave of integration, focusing on businesses with a strong sense of purpose and a distinctive market approach.The Apiary programme emphasises the development of suppliers who are committed to diversity…

Mobile Tornado is taking significant steps in its corporate growth through a strategic £425k share placement.The company aims to consolidate its research and development centres, enhancing operational efficiency.Funds from the placement will support business development initiatives, including a launch into the APAC market.An experienced business development manager has been appointed to spearhead the APAC region expansion.Despite financial setbacks, the company remains optimistic about scaling up its operations and expanding its market reach.Harrogate-based communications firm Mobile Tornado is actively pursuing growth through a strategic share placement valued at £425,000. This move is set to fund critical initiatives, including the consolidation of…

Sir James Dyson critiques proposed inheritance tax changes, terming them damaging to family enterprises.The new policy includes a 20% tax on family businesses and farms over £1 million from 2026.Dyson argues the tax could dismantle the foundation of British family businesses.Critics, including Dyson, warn of job losses and declining entrepreneurship.The government defends the tax as a necessity to fund public services and address financial shortfalls.Sir James Dyson has voiced strong opposition to new inheritance tax regulations proposed by Rachel Reeves, describing them as detrimental to the future of family-run businesses. The new measures would impose a 20% tax on family-owned…

In a bold move to enhance customer convenience, a prominent supermarket has begun testing a self-service returns system in its Ashton-under-Lyne branch, located in Greater Manchester. This innovation aims to streamline the process of returning unwanted or faulty items, providing a seamless experience for shoppers.The pilot scheme allows customers to bring back items by simply scanning their receipt and the product barcode at a self-service machine. Once scanned, customers can place their items into a chute or cupboard designated for returns. This system accommodates a variety of products, ranging from groceries to electronics.Should the automated system face any issues, such…

Asda has commenced a pilot programme at its Ashton-under-Lyne store in Greater Manchester, introducing self-service returns drop boxes designed to streamline the customer returns process.The initiative allows patrons to make returns by simply scanning their receipt and the product’s barcode at a self-service machine before depositing the item into a chute or cupboard. This system supports both grocery items and electronics, accommodating a broader range of consumer needs. If a refund cannot be processed automatically—perhaps due to a missing receipt—customers have the option to seek assistance for a manual transaction.This trial is part of Asda’s broader efforts to enhance customer…

Avison Young’s UK arm has faced significant financial hurdles, leading to over 200 job cuts amidst doubling pre-tax losses.The company’s pre-tax losses soared to more than £100m in 2023, compared to the previous year’s figures.Despite generating £211m in annual revenue, a slight drop was noted from the previous year’s £211.8m.A decline in consultancy and transactional revenues contrasted with increased property management earnings.The firm’s future forecasts indicate continued challenges due to market conditions and economic uncertainties.Avison Young’s UK division, headquartered in Birmingham, has announced substantial job cuts affecting more than 200 employees as it grapples with worsening financial results. The firm…

Electric car prices in the UK have been significantly reduced as manufacturers aim to meet government zero-emission targets.New car registrations have seen a decline, with a noticeable drop in petrol and diesel sales as focus shifts to electric vehicles.Sales of pure electric vehicles have increased, making them the only growing segment in the automotive market.Manufacturers are absorbing costs to avoid fines under the UK’s zero-emission vehicle mandate, leading to substantial price cuts.Despite Tesla’s dominance, other brands are rapidly increasing their electric vehicle sales, hinting at a competitive market landscape.A significant reduction in electric car prices in the UK market is…

Asda has unveiled a strategy aimed at reversing its recent decline in sales, mandating over 5,000 head office staff to return to their desks in Leeds and Leicester for a minimum of three days per week. This directive is part of broader measures to streamline operations and enhance performance.The announcement was made through an internal communication, credited to Asda’s chairman and interim chief executive, Lord Rose. He explained the move as essential for strengthening the company’s focus on customer service, long-term growth, and achieving corporate objectives. Lord Rose acknowledged the discomfort change might bring, yet emphasised its necessity in positioning…

Virgin Media O2 reduces its stake in Cornerstone Towers, selling to Equitix for £186m.The sale involves a significant 16.66% stake in a holding firm for Cornerstone.Virgin Media O2 retains over a 25% share in Cornerstone post-transaction.This strategy reflects a telecom trend towards debt reduction and capital raising.Despite asset sales, Virgin Media O2 faces a 2.4% revenue decline in Q3.Virgin Media O2 has confirmed the sale of a portion of its stake in Cornerstone, a joint venture for mobile towers, to Equitix, an infrastructure investment firm, for £186 million. This transaction follows the company’s decision to offload an 8.33% share, leaving…