Company news, markets and financial talking points, available from 8am Monday to Friday
PwC study finds 1,123 stores closed in six months
PwC says around 14 shops are closing every day as UK high streets face their bleakest trading conditions in five years. During the first six months of 2018, a net 1,123 stores disappeared from Britain’s top 500 high streets, according to the accountancy giant. Due to a surge in online shopping, electrical and fashion stores have suffered most. Pubs and restaurants are also struggling as fewer people eat out.
Paypal bans Tommy Robinson from its platform
Paypal has told far-right activist Tommy Robinson it will no longer process payments on his behalf. The former English Defence League leader said the online payments firm told him he did not fit within its user guidelines and would never be able to use the platform again. The move comes after online petitions calling on finance firms to cut ties with Robinson gained thousands of signatures. The activist branded the ban “fascism”.
Iceland’s palm oil Christmas ad is banned
Iceland’s Christmas television campaign has been banned after it was deemed to breach political advertising rules. The discount chain struck a deal with Greenpeace to create an animated short film featuring an orangutan and the destruction of its rainforest habitat at the hands of palm oil growers. Iceland has become the first major UK supermarket to pledge to remove palm oil from all its own-brand foods.
Sainsbury merger would have ‘significant’ impact on prices
Rivals and suppliers have warned that the planned merger of J Sainsbury and Asda could reduce competition, increase petrol prices, harm small retailers and suppliers, and lead to higher prices for consumers. Wm Morrison warned that …read more
Source:: The Week – All news