Canadian tycoon Doug Putman says ‘everyone got a little bit greedy’ as he reveals why rescue bid for Wilko failed
In the City, budget airline easyJet has reported a record profit, but warned that conflict in the Middle East will hit trading.
EasyJet has posted a headline pre-tax profit of £455m for the year to 30 September, up from a loss of £178m a year earlier.
Additionally there was a broader impact on near term flight searches and bookings across the industry, though this seems to be coming back with a recent improvement in trading.
“We see a positive outlook for this year with airline and holidays bookings both ahead year on year and recent consumer research highlights that around three quarters of Britons plan to spend more on their holidays versus last year with travel continuing to be the top priority for household discretionary spending.
“Retailers are committed to delivering an affordable Christmas for their customers.
They face new headwinds in 2024 – from government-imposed increases in business rates bills to the hidden costs of complying with new regulations. Combining these with the biggest rise to the National Living Wage on record will likely stall or even reverse progress made thus far on bringing down inflation, particularly in food.
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