The UK’s dairy industry is in a “desperate state” as farmers are being paid less for milk than the cost it takes to produce.Giving evidence to the Environment, Food and Rural Affairs Committee (Efra), the chairman of Farmers For Action, David Handley, said that 400 milk producers have quit the...
UK retailers are preparing for what they hope will be the UK’s biggest day of online shopping for the year as the US-inspired Black Friday approaches. The shopping event was only introduced to the UK in 2010 by multi-national retailers but has gained increasing popularity.This year, John Lewis’ managing director...
Amazon and the Royal Mail have struck a deal which will allow customers to collect their parcels from Post Office branches.The deal, which gives Amazon access to 10,500 local Post Office branches, comes just days after Royal Mail warned that Amazon’s delivery network would hit its own parcel business....
B&Q and Screwfix owner Kingfisher has said that “particularly difficult" trading conditions in its French market contributed to a fall in profit at the group.In a statement, the group said that profit fell 11.8% to £225 million in the third quarter, with total sales in France declining in an on-going...
Home Retail Group has sold its Battersea Homebase store for £57 million as part of further plans to rationalise its store estate.In a statement, the company confirmed the closure of an additional 25 stores in the next financial year, including two profitable stores that Homebase was unable to renew on...
Global business confidence is down to a five-year low, as hiring and investment plans fell in a study of 6,100 companies by the Markit Global Business Outlook Survey."Clouds are gathering over the global economic outlook, presenting the darkest picture seen since the global financial crisis," said Chris Williamson, chief economist...
Price wars in the grocery sector are being blamed for a sharp rise in the number of insolvencies amongst food suppliers.In the past year, 146 food producers filed for insolvency, up from 114 the previous year, despite an 8% fall in company liquidations overall.Accountancy firm Moore Stephens said that the...
The head of auction house Sotheby’s is to step down after 14 years. The company said that he would be leaving by "mutual agreement" once a successor was found."We are moving with a sense of urgency, but we will take the time we need to find the right leader for...
The former chief executive of JJB Sports, Christopher Ronnie, has been convicted of accepting over £1 million from suppliers in his tenure at the head of the company.Mr Ronnie denied fraud but the court heard that he did not disclose the payments to the board. He was convicted of three...
Retail sales rose 0.8% in October, with growth in all sectors, according to the Office for National Statistics (ONS).The rise was largely driven by a drop in prices, which fell by 1.5%, the largest decline since December 2002. It comes as the industry gears up towards Black Friday, the US-inspired...
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