A small business advocacy group on Thursday unveiled plans to file a lawsuit against the Biden administration over the president’s mandate for many employers to require that workers get vaccinated against COVID-19 or submit to weekly testing. The Job Creators Network announced in a press release that it plans to file the lawsuit with some of its small business members, along with support from the group’s newly launched Legal Action Fund “ set up to defend small businesses from attacks that hurt their ability to succeed.” Alfredo Ortiz, president and CEO of the conservative group launched by Home Depot founder Bernie Marcus, said in a statement that President Biden Joe Biden Overnight Defense & National Security — Milley becomes lightning rod Democrats hope Biden can flip Manchin and Sinema On The Money — Presented by Wells Fargo — Democrats advance tax plan through hurdles MORE ’s vaccine requirement for employers with 100 or more workers “is …
Co-op warns supply chain crisis will push up prices and put pressure on profits
The Co-op warned of food price increases and pressure on its annual profits from the mounting supply chain crisis as it swung to a half-year loss. The group’s chief executive, Steve Murrells, told the PA news agency that supermarket price rises are “coming” as retailers across the UK battle with the lorry driver shortage, increased shipping costs and global commodity price rises. He said the company will look to offset the cost pressures “as best we can”, but said “some of that will filter down” to customers. The member-owned group, which also provides funeral and other services, reported underlying pre-tax operating losses of £15 million for the six months to July 3, compared with profits of £56 million a year ago, as it was hit by product availability issues and the continuing impact of the pandemic. It warned that the “unplanned supply chain challenges and ongoing Covid costs will bring greater levels of uncertainty”. “This will in turn apply pressure on our …
BT creating 1,000 new jobs in regional office move
BT has announced the creation of 1,000 new jobs as its first major regional hub opens outside London The telecoms giant said it already had 225 roles available at the new 17-floor Birmingham offices at Three Snowhill in the city centre. The new office will eventually host about 3,500 staff from across BT Group, including its digital network business Openreach. Philip Jansen, BT Group chief executive, said the hub’s opening was “a statement” that the firm was “serious about the ‘levelling-up’ agenda” and said a number of senior staff were now based in Birmingham. He added: “We are committed to creating more opportunities and basing key operations in other areas of the UK, too.” Andy Street the Conservative West Midlands mayor, said the jobs announcement and office opening were “fantastic” news. He said: “Not only is it a huge sign of confidence in the West Midlands that a company of BT’s size and stature is investing in and committing to our region, but …
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Pets at Home announces plans to close on Boxing Day
Pets at Home has become the latest retailer to agree to close all stores on Boxing Day this year. Bosses said sites will shut on December 26 as a thank you to staff for their hard work during the year, which saw stores remain open throughout the pandemic due to its “essential” retailer status. The company pointed out that stores were also closed on Boxing Day last year. This year’s holiday falls on a Sunday, with stores in England only allowed to trade for six hours. Other retailers to make similar announcements include Sainsbury’s, Morrisons Waitrose Marks & Spencer Poundland and Home Bargains. Pets at Home’s chief executive, Peter Pritchard, said: “Our people are the beating heart of our business and they have worked tirelessly once again this year to ensure that the nation’s pets and their owners have access to everything they need to stay happy and healthy. “Caring for our colleagues is something we take very seriously and closing our stores again …
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Marks & Spencer blames Brexit supply woes for French store closures
Retail giant Marks & Spencer has said it will close 11 of its stores in France due to fresh and chilled food supply issues following Brexit The group blamed Brexit disruption to exports from the UK to Europe for its decision to shut all franchised shops with partner SFH in France. It said: “The lengthy and complex export processes now in place following the UK’s exit from the European Union are significantly constraining the supply of fresh and chilled product from the UK into Europe and continuing to impact product availability for customers and the performance of our business in France.” The stores, which are located mainly on the high streets of Paris, are set to close by the end of the year. Recommended Christmas shoppers warned about post-Brexit charges on orders from EU Travel to Europe: the post-Brexit passport rules Government delays key Brexit border checks M&S said it remains in discussions with …
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Asos pledges to cut total emissions in new net zero plan
The boss of Asos has said that his company will produce fewer tonnes of greenhouse gases nine years from now than it does today, as it laid out a plan to cut its environmental impact. Asos said on Thursday it plans to cut so-called scope one and two emissions per order by 87% by 2030, when compared with the financial year ending 2019. It will also reduce the emissions from its own-brand products by 58% per pound of profit that the company makes by the end of the decade, and slash transport emissions by the same amount. Chief executive Nick Beighton said that overall emissions would also be cut. “The targets actually reduce our overall carbon emissions over the next nine years,” he said. The company has applied for its targets to be recognised by the Science Based Targets initiative (SBTi), which ensures companies are on track to meet rigorous goals. It hopes to have the targets recognised by SBTi as soon as next week. But as a major retailer, Asos also wants to …
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Galliford Try managing supply chain issues amid return to profit
Builder Galliford Try has seen a return to profit and said it is successfully managing material shortages and price hikes amid supply chain problems. The group posted better-than-expected pre-tax profits of £11.4 million for the year to June 30, against underlying losses of £59.7 million the previous year. It said it is continuing to trade well in the new financial year, despite mounting pressures on the sector from material shortages and rising costs. “Our disciplined approach to bidding and active engagement with our supply chain have proved particularly important during the recent period of materials shortages and inflation,” it said. “Through our careful project management we have successfully managed and mitigated these challenges without any material impact on trading or margin.” It expects profit margins to continue improving over the year ahead, in line with targets. But it comes as rivals in the construction sector have reported delays to projects …
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Inventory Growth Slows as Businesses Struggle with Supply Chains and Inflation
The pace of inventory accumulation by U.S. businesses slowed in July but the extent of the slump was partially hidden by high inflation. Business inventories rose 0.5 percent following a 0.9 percent increase in June, the Commerce Department said on Thursday. Inventories are a key part of the calculation of gross domestic product. And inventory growth is often a signal of rising business confidence and a growing economy. But the message of the June and July inventory accumulation is less clear because of inflation. The inventory numbers are reported in nominal figures, not adjusted for inflation. That’s not a problem when inflation is mild. But when inflation picks up, as it has this year, growth in nominal numbers can actually signal contractions in output. The Producer Price Index for processed goods for intermediate demand, a rough proxy for inventory spending, rose 1.9 percent in June and 1.7 percent in July. In other words, when adjusted for rising prices, inventories …
Businesses want to catch up and make up for lost time
LANGKAWI: Having suffered practically zero income in the last eight months, cruise boat operator Hamiezuar Hamizan is looking forward to making up for lost time. “I’m happy that the government has allowed Langkawi to reopen for visitors. It has been a very tough period, but I’m hoping for a positive end to the year,” he said. Red Sky restaurant marketing manager Siti Raudhah Shaari said although they have opened for dining in since Sept 4, the response has been lukewarm. “We hope business will get better after the reopening. All our staff are fully vaccinated and we also sanitise our restaurant regularly,” she said. The famous Underwater World Langkawi (UWL) has lined up exciting programmes for visitors to mark the company’s 25th anniversary in December. “For now, we will only allow 300 people to enter the building at any one time, compared to 3,000 before the pandemic,” said its general manager Noraini Jumaat. Hawker Lina Hassan, 40, said the decision by the Federal …
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Surprise uptick in spending by Americans as delta spread
2 NEW YORK (AP) — Despite a rise in COVID-19 cases Americans spent at a brisk pace last month, though much of that spending was done online and not at restaurants or other industries beleaguered by the arrival of the delta variant. Retail sales rose a seasonally adjusted 0.7% in August from the month before, the U.S. Commerce Department said Thursday. That uptick caught economists looking for a downturn by surprise. Consensus estimates were for a decrease of 0.85%, according to a survey by FactSet. But the delta variant has changed where Americans spend their time and money. Online sales soared 5.3% last month, while sales at restaurants and bars, many of which believed they were through the worst of the pandemic until the arrival of delta, were flat from the month before. Earlier this year as millions were vaccinated, sales at restaurants, bars and other businesses that rely on crowds soared. But in July, health officials recommended that even …
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