Asda chair says £100m hit from budget will be 'big burden' for wages
The Guardian|November 09, 2024
Asda has warned that measures in the government's budget will be a "big burden" for the supermarket chain, costing it £100m, and could prevent it from raising wages or hiring as many staff as it struggles to turn around falling sales.
Joanna Partridge

The company's warning yesterday came as other UK retailers' share prices took a hit as stock market investors continue to digest the implications of the changes to employers' national insurance contributions (NICs) announced in Rachel Reeves's first budget as chancellor.

Marks & Spencer (-4.8%), JD Sports (-2.6%) and Tesco (-1%) were among the fallers on the FTSE 100, pulling it down to a three-month low. On the FTSE 250 index of smaller companies, the share prices of the bakery chain Greggs (-6%) and the pub group Mitchells & Butlers (-7.7%) also fell.

The share price of the prison contractor Serco dropped nearly 10% yesterday, making it the biggest faller on the FTSE 250, after it told investors changes to employer NICs will cost it about £20m a year. Serco's share price was also affected by its announcement that it had a key contract with the Australian government's Department of Home Affairs to provide onshore immigration detention facilities and services.

هذه القصة مأخوذة من طبعة November 09, 2024 من The Guardian.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة November 09, 2024 من The Guardian.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من THE GUARDIAN مشاهدة الكل
The Guardian

Peace deal

What will the agreement entail?

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2 mins  |
November 27, 2024
'I felt the scapegoat' Bellingham laments media treatment on England duty
The Guardian

'I felt the scapegoat' Bellingham laments media treatment on England duty

Jude Bellingham has said he felt the \"whole world crumbling down on me\" after being mistreated and made a scapegoat for England's defeat in the European Championship final.

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2 mins  |
November 27, 2024
The Guardian

United spent £8.6m sacking staff in drive to cut costs

Manchester United spent £8.6m on redundancies in the first quarter of its financial year due to Sir Jim Ratcliffe's drive to reduce the workforce from around 1,000 by 250, the club's latest accounts show.

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1 min  |
November 27, 2024
The Guardian

Slot says contract dispute may be bringing best out of Salah

Khephren Thuram on his father Lilian's activism, what Thierry Henry always told him, and facing Aston Villa

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2 mins  |
November 27, 2024
Saka leads Arsenal's charge to blast away doubts on the road in Europe
The Guardian

Saka leads Arsenal's charge to blast away doubts on the road in Europe

This was some response to charges of being shot shy. Arsenal's lack of cutting edge on foreign trips had been the pre-match talking point but it turned out they had saved up a hiding for the continent's form team.

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3 mins  |
November 27, 2024
City stunned by late fightback as Guardiola's winless run goes on
The Guardian

City stunned by late fightback as Guardiola's winless run goes on

Manchester City's losing sequence is over - just. But they are still a listing ship that can go down at any moment.

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3 mins  |
November 27, 2024
Kerr breaks new ground coaching men at Hearts
The Guardian

Kerr breaks new ground coaching men at Hearts

Shelley Kerr will lead male player development at the Edinburgh club

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1 min  |
November 27, 2024
'He's a cool cat' Special Bethell ready to pounce on Test debut
The Guardian

'He's a cool cat' Special Bethell ready to pounce on Test debut

Test debutant has impressed everyone from a young age but can he carry off batting at No 3 against New Zealand?

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3 mins  |
November 27, 2024
West Brom deny Isidor and hold out for draw
The Guardian

West Brom deny Isidor and hold out for draw

Sunderland extended their unbeaten run to 10 games but, as the smattering of gentle boos that greeted the final whistle testified, it was most certainly not a cause for celebration on Wearside.

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2 mins  |
November 27, 2024
George in the groove and ready to rock for England
The Guardian

George in the groove and ready to rock for England

Manchester United left-back was never going to let rehab end her dream and hopes for a Wembley bow against USA

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2 mins  |
November 27, 2024