News-In-Brief

Today’s news in brief-23/5/25

Tesco UK CEO Matthew Barnes has stepped down after just one year in the role to pursue other opportunities. He will be replaced by Ashwin Prasad, Tesco’s current chief commercial officer, from 30 June. Prasad brings extensive retail experience, having been part of Tesco’s executive team since 2020. Meanwhile, Natasha…

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Today’s news in brief-15/5/25

B&M has appointed former Tesco executive Tjeerd Jegen as its new CEO, effective 16 June 2025. Jegen brings 25 years of retail experience from companies including Ahold Delhaize and Woolworths. Chair Tiffany Hall praised his strategic insight and customer-centric approach. Despite a 3.1% drop in UK like-for-like sales to £4.5bn…

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Today’s news in brief-14/5/25

Luxury fashion brand Burberry has announced plans to cut up to 1,700 jobs globally following a challenging financial year. The company reported a £3m loss, a sharp decline from last year’s £418m profit, with revenues falling 17% to £2.46bn amid a “difficult macroeconomic backdrop.” The restructuring, part of the ‘Burberry…

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Today’s news in brief-12/5/25

Boots chairman Stefano Pessina is set to increase his stake in Walgreens Boots Alliance to nearly 50% following the company’s $10bn takeover by private equity firm Sycamore. While Pessina, who previously held a 17% stake, will invest more to expand his share, Sycamore will take majority ownership. The deal, valued…

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Today’s news in brief-9/5/25

The UK and US have struck a “first-of-a-kind” trade deal, slashing tariffs for UK carmakers, steel, and farmers while maintaining a 10% levy on other goods. Car export tariffs will drop from 27.5% to 10%, benefiting Jaguar Land Rover, while steel and aluminium tariffs fall to zero. The deal includes…

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Today’s news in brief-8/5/25

Next has increased its full-year profit guidance to £1.08bn, up £14m, following an 11.4% rise in Q1 full-price sales, outperforming its 6.5% forecast. The retailer attributed the £55m sales boost to warmer spring weather but cautioned that some demand may have been pulled forward from Q2. While retail sales surged,…

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Today’s news in brief-7/5/25

Asda has appointed Rachel Eyre as its new chief customer officer, replacing David Hills. Eyre joins from Morrisons, where she served as chief customer and marketing officer, overseeing brand strategy, digital, and PR. With prior experience at Sainsbury’s and Barclays, she aims to reinforce Asda’s position as the UK’s lowest-priced…

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Today’s news in brief-6/5/25

Deliveroo has agreed to a £2.9bn takeover by US rival DoorDash, creating a combined entity operating in over 40 countries with annual orders exceeding £10bn. The deal, offering a 44% premium on Deliveroo’s share price, was approved by its board. DoorDash CEO Tony Xu highlighted the potential for expanded innovation,…

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Today’s news in brief-2/5/25

Apple reported a 5% year-on-year revenue increase to $95.4bn in Q2 2025, surpassing analyst expectations. Earnings per share rose 8% to $1.65, driven by strong iPhone sales ($46.8bn), Mac computers ($7.9bn), and iPads ($6.4bn). CEO Tim Cook highlighted double-digit growth in services and Apple’s 60% reduction in carbon emissions over…

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Today’s news in brief-1/2/25

The Co-op has shut down parts of its IT systems after hackers attempted unauthorised access, causing minor disruptions to call centres and back-office operations. Stores, funeral homes, and quick commerce services remain unaffected. The company assured customers no action is required but is monitoring the situation. This follows a recent…

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