Sainsbury s takes on Aldi as supermarket price war heats up
Price and home delivery have become the main battlegrounds for the big grocery chains
10 February 2021 • 6:02pm
Sainsbury s has slashed prices on hundreds of products to bring them in line with Aldi in a fresh escalation of the war between major supermarkets.
The grocer promised to cut the cost of 250 essentials such as meat, chicken, fruit and vegetables to match the German discounter.
It marks the first stage of a plan announced in November by chief executive Simon Roberts to put food at the heart of the business and help shoppers save more on their groceries.
Bleak future for Oxford Street after Arcadia s fall
At least one-fifth of Oxford Street will be boarded up with no hope of recovery , warns influential lobby group
Number 80 Oxford Street alone has seen 14 different operators open since 2002
Credit: Mike Kemp/Getty
When Debenhams unveiled the new design of its flagship Oxford Street store in December 1986 it caused quite a stir among shoppers and retail pundits alike.
It featured the so-called galleria concept, which carved out the huge central atrium, and was criss-crossed by escalators. The transformed store was meant to bring the glamour back to shopping.
Nearby, rival John Lewis is turning part of its store into offices, and the landmark Topshop store by Oxford Circus Tube station is up for sale following the collapse of parent company Arcadia. Topshop will live on as an online brand at Asos.
Anders Holch Povlsen: the quiet Dane who is a retail sector visionary
Denmark’s richest entrepreneur began building his fashion retail brands empire after taking over the Bestseller chain in his 20s
7 February 2021 • 11:31pm
Fashion mogul Anders Holch Povlsen, pictured with his wife Anne has an estimated net worth of £8bn
Credit: AFP
One of the few times Anders Holch Povlsen has spoken in public was when he accepted an honorary degree six years ago.
He does not seek the limelight. But despite his low profile, he is Denmark’s richest man, chief executive and owner of the Bestseller fashion chain. He is also the largest shareholder of Asos, the fast-fashion website, and Scotland’s largest private landowner. His estimated net worth is £8bn. So who is Anders Povlsen, one of the leading figures in business?
Firms won’t start paying off Covid debt until 2024
Total borrowing by UK firms during the pandemic is expected to hit £60bn by the end of 2021
8 February 2021 • 6:00am
Companies are building up enormous piles of debt to stay afloat through the pandemic, with many unlikely to begin paying back for years.
Total borrowing by UK firms through the pandemic is expected to top £60bn by the end of 2021, according to a forecast by the EY Item Club – which predicted many would not begin to pay back their loans until 2024.
Last year’s £35.5bn in net borrowing by British business was £25bn higher than the average over the previous five years.