(qlmbusinessnews.com via news.sky.com– Fri, 27th Nov 2020) London, Uk – –
It comes after a year where many people have relied on the company, which runs a global retail operation and a streaming service.
Amazon staff in the UK are set to see a Christmas boost in their pay packet, after the firm announced $500m (£374m) in global bonuses.
The company, which is run by the world's richest man Jeff Bezos, will hand out £300 to full-time workers who are employed from 1 to 31 December, while part-time staff will get £150.
It comes after a year where many people have relied on the company – which runs a global retail operation and streaming service – to send gifts, buy essential items or while away the hours on box sets and films.
In a blog post, the firm's senior vice president of worldwide operations, Dave Clark, said this holiday season would be “unique”, and that he was “grateful to our teams who continue to play a vital role serving their communities”.
He added: “This brings our total spent on special bonuses and incentives for our teams globally to over $2.5bn (£1.84bn) in 2020, including a $500m (£374m) thank you bonus earlier this year.
“Our teams are doing amazing work serving customers' essential needs, while also helping to bring some much-needed holiday cheer for socially distanced families around the world. I've never been more grateful for, or proud of, our teams.”
Despite paying two rounds of bonuses this year, the firm has had to answer questions about its safety protocols amid the coronavirus pandemic after US politicians scrutinised Amazon's working practices.
Amazon joins major US retailers such as Walmart and Home Depot in spreading the wealth, after sales during coronavirus lockdowns surged.
Bezos also grew his personal wealth exponentially in 2020 and is estimated to be worth almost $186bn (£136bn) – almost $60bn (£44bn) ahead of the next richest person in the world, Elon Musk.
To pump out its famous flavors like Half Baked and Cherry Garcia, Ben & Jerry's Vermont plants run 24-7, operated by hundreds of workers and flavor gurus. Business Insider visited the St. Albans factory back in 2019 to see how these iconic pints flip their way to our freezers.
With more than 500 hours of video uploaded every minute and over 1 billion hours watched every day, Google’s YouTube is the world’s second largest search engine. And its meteoric growth hasn’t subsided, over 2 billion users visit the site every month. CNBC takes a look at how the video platform has changed over the past 15 years and if it can stay on top
(qlmbusinessnews.com via theguardian.com – – Tue, 10th Nov 2020) London, Uk – –
Britons buying more premium food but Kantar says there is no evidence of stockpiling
Sales of scented candles and retailers’ premium food ranges have soared as cold weather and coronavirus restrictions encourage Britons to hunker down for winter.
While the tightening of government rules has not led to a repeat of the stockpiling in the spring, they are still having a big impact on shoppers’ mindsets. Sales of scented candles, potpourri and essential oils for diffusers jumped 29% in October, according to the research group Kantar, while shoppers spent £56m more on premium own-label food and drink brands during the month.
Fraser McKevitt, the Kantar head of retail and consumer insight, said shoppers in Wales had spent an extra £10 a week on groceries during its recent firebreak lockdown but the increased spending “did not provide any evidence of stockpiling”. Initial figures for England also suggest “no sign of panic buying”.
The prospect of spending less time out and about during winter means people are “hunkering down with seasonal comforts and making the best of life at home”, McKevitt said. Spending on premium supermarket own-label products such as wine, chocolate and fresh meat was 18% higher than in October 2019.
The pandemic had an impact on Halloween celebrations with £9m spent on pumpkins, which was the same as in 2019, but sales of sweets for trick-or-treaters were down 2.3% as children were forced to stay home.
The operating restrictions faced by restaurant and pub chains have also a positive impact on sales at Bisto maker Premier Foods. Alex Whitehouse, the chief executive, said: “Britain has got cooking again” as more shoppers bought ingredients such as stock cubes and sauces. Sales at its grocery brands division, which includes store cupboard staples such as Bisto gravy granules and McDougalls flour, were up 13% in the three months to 26 September.
The Kantar data showed UK grocery sales increased by 9.3% during the 12 weeks to 1 November with “no significant spike in demand” in the most recent four weeks, despite a variety of restrictions coming into force across the country.
However, the figures also revealed a huge increase in demand for frozen food with sales up 14% over the period. This surge was good news for Iceland, which was the UK’s fastest-growing supermarket chain with sales up 17.9% and the average shopper spending nearly 50% more per visit than in 2019.
“Frozen food has been a hot ticket since the beginning of the pandemic,” said McKevitt, who pointed to a spike in sales of fridge-freezers over the summer that showed “the desire for long-lasting provisions in the current climate”.
(qlmbusinessnews.com via theguardian.com – – Wed, 30th Sept 2020) London, Uk – –
Delivery-based supermarket’s value rises to £21bn despite selling 1.7% of UK’s groceries
Ocado has overtaken Tesco to become the UK’s most valuable retailer after its stock market value soared to £21.66bn.
Tesco is worth £21.06bn despite controlling nearly 27% of the UK grocery market. By comparison Ocado, which is already worth more than double the combined value of Sainsbury’s and Morrisons, sells just 1.7% of the UK’s groceries.
Former Tesco boss Sir Terry Leahy once famously described Ocado as a “charity” due to its track record of losses during the noughties.
Ocado has eclipsed Tesco just as the supermarket’s new chief executive, Ken Murphy, prepares to take charge on Thursday. He replaces Dave Lewis who has been running the UK’s biggest retailer since 2014.
Murphy faces a baptism of fire as Tesco grapples with recession, running supermarkets during a pandemic and a potential no-deal Brexit. He also needs to get the share price, which has gone sideways under Lewis, moving.https://www.theguardian.com/email/form/plaintone/3887Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDesk
The Tesco board is painfully aware of the march of the Ocado share price. In the summer the company suffered one of the biggest-ever shareholder revolts over executive pay. Shareholders objected to a late change to part of an executive pay plan, which handed an additional £1.6m to Lewis and £900,000 to finance director Alan Stewart.
The change involved removing online grocer Ocado from a comparator group against which Tesco’s share performance was measured. With Ocado included the two men would not have qualified for the extra payout.
Investors have fallen in love with Ocado on the back of the success of its tech business Ocado Solutions, which sells its grocery-picking expertise to foreign supermarkets. The coronavirus pandemic has also triggered a boom in online shopping. At the height of the pandemic online food sales nearly doubled but, despite the recent slowdown, they now account for 12.5% of total grocery sales versus about 7% pre-crisis.
By Zoe Wood
(qlmbusinessnews.com via theguardian.com – – Tue, 8th Sept 2020) London, Uk – –
Blanket approach to ending scheme will mean a wave of closures, says shadow minister
Labour has warned that many pubs and bars will be forced to close unless the government agrees to extend the furlough wage support scheme, which is due to be withdrawn next month.
Night-time hospitality businesses have struggled as punters remain cautious about heading back to their local and Labour warned that the sector would suffer a wave of closures unless it received further help.
“Pubs are a vital part of our high streets and social fabric in communities up and down the country,” said Lucy Powell, the shadow business minister. “They have been hit hard by the pandemic, and Tory indifference and incompetence over many years means that many have gone to the wall.Advertisement
“Ministers’ blanket approach to ending the furlough scheme further threatens the future of many more. The furlough scheme must be extended for hard hit sectors to save jobs now.”
Labour, which reckons 5,500 pubs and bars have closed since the Conservatives came to power in 2010, is also calling for funds leftover from the government’s business grant scheme to be funnelled into a new Hospitality and High Street Fightback Fund to help ailing businesses.
Figures released last month showed that sales at pub, restaurant and bar chains halved in July compared with last summer. Trade in bars was down almost two-thirds (63%) and pubs saw a 45% slump in the first month that businesses were able to reopen after the government eased lockdown restrictions.
Last month, the British Beer and Pub Association said more than a third of pubs failed to break even in July, and a quarter of pubs and bars were uncertain their businesses would still be viable by March next year.
“With our pubs grappling with the ongoing challenge of returning to the trading levels they were at before the lockdown, hundreds of thousands of jobs hang in the balance,” said Emma McClarkin, chief executive of the BBPA. “A sector specific extension of the furlough scheme would be greatly welcomed by our sector.”
While the BBPA threw its weight behind an extension of the furlough scheme, industry figures have also identified other areas where the government could help.
Publicans have expressed bitter complaints about the financial impact of the“beer tie” arrangement that governs the relationship between large pub companies that own thousands of pub premises and the tenants who run the business.
Many publicans also expressed dismay after alcohol was excluded from the government’s six month VAT cut from 20% to 5% designed to stimulate the hospitality industry. More than 60% of the UK’s 47,000 pubs are “wet-led”, meaning they make more money from alcohol than food. Pubs are also facing huge rent bills with nearly all of the major pub companies opting to defer their demands, or offer a discounted rate, instead of cancelling payments as business has dried up during the pandemic.
Pubs, bars and restaurants also no longer enjoy the extra custom the government’s highly successful eat out to help out scheme brought in during August.
Last week, the government revealed that at least 100m meals were eaten by diners taking advantage of the scheme, which gave 50% off the price of a meal up to a maximum of £10 per head on Mondays to Wednesdays. The government has said the success of the scheme meant it would cost more than the £500m Rishi Sunak set aside in the July mini-budget.
A Treasury spokesperson said: “We have stood by pubs and the communities they serve throughout the pandemic, providing targeted support for the sector including business rates holidays and cash grants of up to £25,000.
“The coronavirus job retention scheme will have been open for eight months from start to finish – with the government helping to pay the wages of over 9.6 million jobs so far. And support doesn’t end in October with the furlough bonus paying £1,000 per employee for those brought back to work and kept in employment into 2021.”
By Mark Sweney
NASA astronaut Jeanette Epps will join astronauts Sunita Williams and Josh Cassada as a crew member on the first operational flight of Boeing’s CST-100 Starliner spacecraft to the International Space Station (ISS), announced NASA. The six-month expedition, which is planned to launch in 2021, will make Epps the first Black woman to live and work in space for an extended period of time. Epps responded to her new assignment in a Twitter video, saying she’s “looking forward to the mission” alongside Williams and Cassada. NASA assigned Williams and Cassada to the Starliner-1 mission in August 2018. The spaceflight will be the first for Cassada and third for Williams, who spent long-duration stays aboard the space station on Expeditions 14/15 and 32/33.
Source: Evan Carmichael
Grab a snack and chew on today's lessons from a man who went from writing a play in high school after a classmate was shot and killed to playing Jackie Robinson in movie 42 and being the Black Panther. He's Chadwick Boseman and here's my take on his Top 10 Rules for Success!
(qlmbusinessnews.com via news.sky.com– Fri, 28th Aug 2020) London, Uk – –
Guardian analysis shows pace of job cuts on back of Covid-19 crisis remains the concern
Britain’s economic recovery from Covid-19 gathered pace in the past month, fuelled by consumer spending and people taking advantage of the government’s “eat out to help out” scheme, despite fears mounting over rapid growth in unemployment.
On the Guardian’s latest monthly tracker of economic news since the pandemic spread to Britain this spring, the release of pent-up demand with the easing of lockdown is driving the sharpest rebound in economic growth among the G7 advanced economies, while retail spending has returned to pre-crisis levels.
However, after the country plunged into the deepest recession on record in the three months to June, companies have started making job cuts at a faster pace than during the 2008 global financial crisis, with hundreds of thousands of redundancies announced in the past few weeks alone.
Sounding the alarm as the UK government prepares to remove its furlough job retention scheme this autumn, Frances O’Grady, the director general of the TUC, warned that continued support would be required to avert a jobs catastrophe and long-term damage to the economy.
Writing in the Guardian, she said: “Without urgent action we face the prospect of mass unemployment on a scale not seen since the 1980s.”
Issuing an appeal to the chancellor, Rishi Sunak, she said: “There is still time to stop mass unemployment. We worked together once before as this crisis began: I will work with you again if you are serious at stemming the haemorrhage of jobs.”
The Guardian has chosen eight economic indicators, as well as the level of the FTSE 100, to track the impact on jobs and growth from Covid-19 and the measures used to contain it. Faced with the deepest global recession since the 1930s Great Depression, the Covid Crisis watch will also monitor how the UK is faring compared with other countries.
In the past month, private sector business activity has risen at the fastest pace in seven years as companies race to catch up on work put on hold during lockdown. The increase in demand for services and manufactured goods, which followed the easing of restrictions during the summer, sent the IHS Markit CIPS flash UK composite output index to 60.3 in August, up from 57 in July. On a scale where a figure above 50 indicates expansion, the latest figures suggest the UK is recovering faster than the US, China and the eurozone.
The recovery comes after Britain was officially confirmed to be in the deepest recession since modern records began in the 1950s, with gross domestic product (GDP) falling by 20.4% in the second quarter.
In the deepest decline of any nation in the G7 and the EU, the slump was worsened by the later launch of lockdown and prolonged use of controls to limit the spread of the virus. In a reflection of the deeper downturn for Britain, non-essential shops were closed for just 50 days in Germany, compared with 84 days in the UK.
Retail sales jumped above pre-pandemic levels in July during the first full month since the relaxation of restrictions, as shoppers gradually returned to the high street. The hospitality sector also received a shot in the arm from the “eat out to help out” scheme, with a Monday-to-Wednesday boom at restaurants, pubs and cafes in August. More than 64m discounted meals – the equivalent of one for almost every person in Britain – have been claimed by venues taking part in the scheme so far.
However, significant pressure remains for firms, threatening a sharp increase in unemployment this autumn. Online spending remains higher than before the crisis struck, footfall remains down in several big cities amid the continued absence of office workers, and demand remains weak in certain sectors more reliant on social interaction or travel, such as entertainment, aviation and tourism.
Millions of workers have been brought back from furlough as firms gradually reopen with physical distancing measures in place, with the total number of people on the government’s wage subsidy scheme down from a peak of about 9 million in May to about 4.5 million at the start of August.https://www.theguardian.com/email/form/plaintone/3887Sign up to the daily Business Today email or follow Guardian Business on Twitter at @BusinessDeskAdvertisement
However, more than half of the workforce in the arts, entertainment and recreation industry remains furloughed, compared with only 13% still away from work for the economy as a whole, according to the Office for National Statistics.
Despite the government scheme protecting millions of jobs, official figures show almost three-quarters of a million jobs have been shed from company payrolls since March. Economists say unemployment is set to more than double as the government rolls back the furlough scheme this autumn and as firms cut their costs amid weaker levels of demand while Covid-19 remains a risk to health.
Warning that the crisis is far from over, O’Grady said employers would need continued government support to protect jobs and create new ones as the risks from the pandemic gradually recede.
“Mass unemployment is not inevitable. If the government acts fast to keep people in work, our economy will recover faster and our country can build back better,” she said.
By Richard Partington Economics correspondent
When Brian Scudamore told his parents he was dropping out of college to become a full time junk collector, they told him he was throwing away his future. At just 19, he set out to build his own business. The idea for a junk removal service came to Scudamore while staring at a pile of garbage in a McDonald’s parking lot. Today he’s created a multi-million brand and through his unconventional success, he’s become the poster child of encouraging anyone thinking about starting a business to “just get out there and start one.”
(qlmbusinessnews.com via bbc.co.uk – – Fri, 14th Aug 2020) London, Uk – –
A 28-year-old former pizza delivery boy has done a deal which values his sportswear company at more than £1bn.
Ben Francis started Gymshark from his parents' garage in 2012 when he was 19 years old, studying by day and working for Pizza Hut by night.
Mr Francis told the BBC he is now worth a “frightening” amount though he declined to provide details of the deal.
But based on a £1bn value, Mr Francis' stake in Gymshark is worth £700m.
US private equity firm General Atlantic is taking a 21% share in the clothing business, which is based in Solihull. It will allow Gymshark to expand internationally, especially in the US, where it has most of its customers.
Mr Francis started the firm because he couldn't find sportswear that appealed to him.
Enlisting the help of his brother, and a group of friends, he bought a sewing machine and screen printer, and started to make gym vests and t-shirts.
Embracing social media
His brother and most of those friends are still a part of the business today, which has 499 staff and offices in the UK, Hong Kong and Denver, Colorado. It manufactures all over the world.
A large part of the sportswear firm's success is due to its significant social media following. It has 4.6 million followers on Instagram.
“We were one of the first businesses in the world to sponsor influencers,” Mr Francis said. “Equally, we were one of the first businesses to really double down and invest in social media.”
But the coronavirus crisis has also helped.
“Commercially, it's been quite good in the sense that people are shopping more online and people are running, cycling and doing home workouts more than ever before,” he said.
But he acknowledged that it has been hard on his staff.
He is yet to decide what he will do with his newly-realised wealth but he does think he's earned a short break.
“I will have this weekend off,” he said.
“I cannot remember the last time I was up any later than 05:30 or 06:00 so tomorrow morning, I will have a lie in, for one, and I will walk my dog and just chill out.”
However, he remains focused on worldwide expansion.
“This is my one true passion and the thing that I've truly dedicated my life to,” he said.
“So all of my mindset right now is about continuing to develop this brand into a truly, truly global phenomenon.”
By Philippa Goodrich and Dan Ascher
At MIT's Media Lab, researchers are developing prosthetic limbs that users can control with their minds, making a robotic foot move as seamlessly as a biological one.
This Alux video we'll try to answer the following questions: What is Fortnite? How do you spell Fortnight? Why the new media loves fortnite? Why do guys like fortnite so much? Why is fortnite so bad? Why fortnite is good for your brain? Why is fortnite addicting? Is fortnite a sin? Does fortnite make you dumber? Is fortnite ok for 10 year olds? Should fortnite be banned? Is fortnite OK for 7 year old? Can fortnite damage your brain? Is fortnite OK for 9 year olds? Does fortnite make you smarter? Is fortnite OK for kids? Who is the best fortnite player? How long should you play fortnite a day? Why is fortnite bad for kids? What game is the most addictive? How do I quit fortnite? Is fortnite dying? Is fortnite game Dangerous? s Minecraft better than fortnite? What does fortnite stand for? Is fortnite suitable for 12 year olds? Is fortnite appropriate for 11 year olds? Why is fortnite so successful? Is Roblox bad for kids? Why is fortnite a 12? What is the concept of fortnite? What is the point of fortnite? Is fortnite OK for kids? What kind of game is fortnite? Should a 7 year old play fortnite? Is fortnite shutting down in 2020? Why is fortnite so addictive? Is fortnite dying? How do you get free V bucks? Is fortnite good for your brain? Why is fortnite shut down? What does whisper mean in fortnite? Is Roblox better than fortnite? Why is fortnite a 12? Is Roblox bad for kids? Is fortnite OK for 9 year olds? What is fortnite's birthday? How can you tell a fortnite bot? Is Ninja still good at fortnite? How much does Ninja make a year? How much is the Ninja skin on fortnite? What is Ninja's fortnite name? Who is best fortnite Player 2020? Does Fortnite pay ninja? Who is the richest gamer? Who is the highest paid gamer? How much is Ninja worth? Is Ninja still making money? How much did Microsoft pay for ninja? Who is the best fortnite player? Is fortnite losing popularity? Does Ninja play warzone? What team is Ninja on in fortnite? Why is fortnite banned in China? What country is fortnite banned in? Who has the most kills in fortnite?
Source: Make it
These are Crocs. And a lot of people think they’re really ugly. People who love to hate Crocs had cause to celebrate in 2008, when investors were writing the company off as a passing fad. Crocs lost over $185 million that year and cut 2,000 jobs. The stock plunged to just over $1 a share from a high of about $69 a year earlier. But over the next decade, Crocs would go on to sell 700 million pairs of shoes worldwide. Recently, the clogs have have been strutting down runways at luxury fashion shows. Celebrities like Justin Bieber, Ariana Grande and Post Malone are wearing the shoes. It’s a top brand among Gen Z. And limited edition Crocs are selling for up to $1,000 on the resale market. Crocs have become… a collector’s item.
This video explore the self manufactured excellence of Black Wall Street. It will also discuss the origins, wealth, prosperity, and legacy that was established in Greenwood, Tulsa, Oklahoma in the early 1900's
The Pittsburg Pennsylvania company Lilliput Play Homes creates custom designed play houses that can cost as much as your car and may even rival your apartment. The gorgeous mini homes have windows, electricity, if you want even running water. Laaadeeedaaa. But seriously I think I want to live in one of these.
This Alux video well try to answer the following questions: What are the biggest business deals in history? What is the biggest acquisition in history? What is the biggest merger of all time? What companies merged recently? What happens when a big company buys a small one? What companies are merging in 2020? What companies merged in the last century? What was the biggest merger failure and why? What are the biggest Mergers and Acquisitions in the world? What are the worst mergers or acquisitions of all time? What are the biggest mergers of 2019? What are biggest mergers are foresee this year? What are some of the biggest mergers in history? What are the important mergers and acquisitions that revolutionized today's world? Which are the biggest mergers or acquisitions that happened in the IT industry?
Our life pace is accelerating. However, technologies manage to outpace it, coming up with multifunctional things that make our life very easier. Multifunctionality is the trend of our time, so inventors are trying their best to turn any item into several items at once. In this release, we will show unusual, although such necessary items …
(qlmbusinessnews.com via theguardian.com – – Fri, 22nd May 2020) London, Uk – –
bout 40 outlets – now shut because of Covid-19 – will close for good, with loss of 1,000 jobs
The billionaire Ranjit Singh Boparan has bought the Carluccio’s brand and 31 restaurants in a deal that rescues more than 800 jobs.
About 40 further outlets of the ailing chain, which called in administrators in March, will be permanently shut, with the loss of 1,000 jobs. All the Carluccio’s outlets are currently closed and its staff are on furlough.
Boparan, 53, has made his fortune in the food business and owns the Giraffe and Ed’s Easy Diner chains as well as Fox’s Biscuits and a vast supermarket chicken empire.
Phil Reynolds, a joint administrator of Carluccio’s and a partner at the corporate restructuring firm FRP, said: “The Covid-19 lockdown has put incredible pressure on businesses across the leisure sector, so it has been important to work as quickly and as decisively as possible in an extremely challenging business environment to secure a sale, which ensures the future of the Carluccio’s brand in the UK casual dining scene.”
The buyout of Carluccio’s marks the latest expansion of Boparan’s empire. He has been labelled the “chicken king” as he is the co-owner and founder of 2 Sisters Food Group, which supplies about a third of the chicken on UK supermarket shelves. The company, which also owns Fox’s Biscuits, was the subject of parliamentary and food watchdog inquiries in 2017 after a Guardian and ITV News undercover investigation into food standards at a 2 Sisters chicken plant.
Boparan’s interests also include the turkey producer Bernard Matthews and the upmarket Cinnamon Club restaurant in London, as well as Boparan Restaurants group, which operates 140 outlets across six chains.
Satnam Leihal, the managing director of Boparan Restaurant Group, said: “This acquisition is in line with our strategy to grow our restaurant group with quality brands. While it is an extremely challenging time for the sector, we believe quality hospitality businesses will recover in the long term as people return to eating out.”
Boparan is extending his empire as restaurants and pubs face intense financial pressure during the coronavirus crisis. UK operators have been closed since the end of March and will not be allowed to open to diners until at least 4 July, when the third step in the government’s lockdown easing plan is due to take place, if progress in tackling the virus allows. Even then, businesses are expected to have to operate with strict physical-distancing rules, which are likely to dramatically affect profits.
Carluccio’s was founded by the late chef Antonio Carluccio in 1999 and was owned by Landmark Group, a Dubai-based retail and hospitality conglomerate.
Restaurants that have been rescued
Bristol, Cribbs Causeway
London, Islington Development Kitchen
London, Marriott Heathrow
London, Marriott Regents Park
London, South Kensington
London, St Christopher’s Place
London, St Pancras Station
London, Waterloo Station
Manchester, Trafford Centre
Dublin Dawson Street
By Sarah Butler