Retail news

Labour to overhaul business rates system and stamp down on shop worker violence

09-06-2024 19:16

Labour has vowed to overhaul the business rates system in a bid to revitalise the high street, if it wins the general election.
The party said it would replace the current system with a new one that will “level the playing field between the high street and online giants”. However, it did not go into detail about what the new system will entail.
Labour leader Sir Keir Starmer said that “hard-working small businesses have been held back” by the current system and criticised

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Stop Shein listing on the FTSE, workers’ rights campaigners urge

09-06-2024 18:13

Groups issue call to next government amid criticism of online fashion retailer’s labour practices and accusations of copyingWorkers rights campaigners have called for the UK’s next government to oppose the online fashion business Shein joining the FTSE, arguing a London listing would be “yet another betrayal to working people everywhere and the planet.”Alena Ivanova, campaigns lead at Labour Behind the Label, said it had heard the news of senior British politicians courti

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Shein to miss out on FTSE 100 as British Fashion Council hits out at planned IPO

09-06-2024 17:55

Shein will miss out on a place on London’s FTSE 100 as the soon-to-list fashion retailer will not sell enough shares to qualify.
Companies need to have a minimum free float of 25% to be included in the FTSE index, and city sources told The Sunday Times that the fast fashion behemoth will not sell enough shares.
The fashion giant, which was valued at $66bn (£52bn) in its latest round of fundraising, was on track to have become one of the ten largest companies in the FTSE 100 when

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Asda’s next CEO could receive £10m pay package

09-06-2024 17:07

Asda’s Mohsin Issa could offer the supermarket’s new chief executive a pay package worth up to £10m as the billionaire races to find someone to lead the business.
In a bid to wrap up the search for a new boss, a lucrative package ranging from £8m to £10m has been proposed, city sources told the Telegraph.
Since 2021, Issa, the minority owner of the grocery chain, has been overseeing the business following Roger Burnley’s early departure due to a strategic disa

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