The convenience store chain McColl’s is on the brink of being bought by the billionaire brothers behind Asda after crashing into administration with 16.000 jobs at risk. The Issa brothers have emerged as clear frontrunners to snap up McColl’s’ 1,100 stores after a tumultuous 24 hours in which the failing corner shop retailer first appeared to be…
Klarna is to start reporting its customers to credit agencies ahead of a crackdown against the “buy now, pay later” industry. The Swedish payments giant said it will report purchases on its platform to companies such as Experian and TransUnion that hold data on the credit scores of about 50m adults in the UK from…
Amazon has suffered its slowest growth for two decades, knocking $150bn (£120bn) off its value on Thursday, as the pandemic internet shopping boom ground to a halt. The online retail giant said revenues rose by 7pc in the first three months of the year to $116.4bn. This was the slowest growth since 2001, in the…
Mike Ashley’s future son-in-law will be paid £20m in consultancy fees before he takes over as chief executive of Frasers next month. Michael Murray, 32, currently holds the role of “head of elevation” at the retailer, previously known as Sports Direct, and has been in charge of all property deals. Frasers said that it was…
The Mayor of London will reconsider plans to demolish Marks & Spencer’s store on Oxford Street following a public backlash. City Hall officials will review the controversial proposals to knock down the flagship store near Selfridges after they initially decided not to intervene in the application. In January, Simon Sturgis, an architect and carbon expert,…
More than 100,000 British companies are to sue Mastercard and Visa over claims they charge fees on corporate credit cards at up to six times the maximum level. A class action claim will be filed on Thursday with the Competition Appeal Tribunal (CAT) by boutique law firm Harcus Parker, on behalf of travel and hospitality…
A string of major Western companies are boycotting Russia following Vladimir Putin’s invasion of Ukraine. But while some of the biggest names in business have announced they are pulling out, some have decided to remain. Brands staying in Russia: Ab InBev Stella Artois owner operating through local subsidiary Alphabet Google and YouTube parent has blocked…
Q: With a new year almost upon us, what do you think the business world should resolve to do in 2022? A: I have given myself three wishes for 2022, none of which, if I’m being realistic, have much chance of becoming true. But, being a bit of a maverick, it’s important to dream. We…
