focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMarks & Spencer Share News (MKS)

Share Price Information for Marks & Spencer (MKS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 276.70
Bid: 277.50
Ask: 277.70
Change: -1.70 (-0.61%)
Spread: 0.20 (0.072%)
Open: 278.00
High: 279.00
Low: 275.10
Prev. Close: 278.40
MKS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

M&S chair says UK's "baffling" post-Brexit plans will wreck trade

Thu, 26th Jan 2023 05:51

(Alliance News) - Marks & Spencer Group PLC's chair has become the latest business leader to criticise the UK government's economic policy, with Archie Norman calling plans to ease post-Brexit trade "overbearing" and "baffling".

Norman, who is also an ex-Conservative MP, has urged the foreign secretary during talks with the EU not to consider separate labelling for goods sold in Northern Ireland.

"The overbearing costs of a labelling regime would raise prices and reduce choice for consumers, further disadvantage UK farmers and suppliers and impact UK retailers' competitiveness in other international markets," Norman wrote according to excerpts obtained by the Telegraph.

"The simple fact is retailers already operate in real-time digital information – day or night, at the click of a button, we can locate our products, be that in a depot, in transit or in a store.

"In a digital era – when one tap of a mobile can check-in a customer at a store and locate their order in under 60 seconds, it's baffling that the government and EU have rewound four decades to discuss an expensive 'solution' involving stickers & labelling."

Both the UK and EU are keen to strike a deal to break the logjam over Brexit's Northern Ireland Protocol before April's landmark 25th anniversary of Northern Ireland's historic Good Friday peace agreement.

But Northern Ireland Secretary Chris Heaton-Harris on Wednesday insisted London is not setting any deadlines on the talks over the contentious trading arrangements.

The DUP is currently blocking the functioning of power-sharing at Stormont and has made clear it will not allow devolution to return unless major changes to the protocol are delivered.

An agreement between the EU and UK would not guarantee the restoration of devolution, as the DUP may ultimately reject it and continue with its Stormont boycott.

Norman said in May that EU proposals for administering the protocol are "highly bureaucratic and pretty useless" given UK food standards are "equivalent or higher" than those set by Brussels.

He told BBC Radio 4's Today programme at the time that the bloc was suggesting that the same background checks, including veterinary checks, required for the Republic of Ireland are also needed to send goods from other parts of the UK to Northern Ireland.

"Incidentally that means that every piece of butter in a sandwich has to have an EU vet certificate, so it's highly bureaucratic and pretty pointless," he said.

Norman's latest criticism of the government's plans as "baffling" follow billionaire businessman James Dyson calling out Rishi Sunak last week for a "short-sighted" approach to business.

The founder and chief engineer of the Singapore-based multinational technology company Dyson called on Sunak and Chancellor Jeremy Hunt to use the spring budget to "incentivise private innovation and demonstrate its ambition for growth".

source: PA

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
12 Sep 2023 08:46

TOP NEWS: UK grocery price inflation cools to lowest level in a year

(Alliance News) - Annual grocery price inflation in the UK decelerated to 12.2% in the four weeks that ended September 3, from 12.7% a month before, according to survey data from Kantar on Tuesday.

Read more
11 Sep 2023 06:56

UK retailers warn chancellor against GBP400m business rates hike

(Alliance News) - Bosses of a raft of Britain's biggest retailers, such as Tesco PLC, Marks & Spencer Group PLC and Kingfisher PLC's B&Q, have urged Chancellor Jeremy Hunt to freeze their property taxes to avoid a roughly GBP400 million hike.

Read more
6 Sep 2023 09:32

LONDON BROKER RATINGS: Shore says 'buy' B&M; Peel Hunt likes Halfords

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

Read more
6 Sep 2023 09:02

LONDON MARKET OPEN: Stocks fall amid high oil prices

(Alliance News) - Stock prices in London opened lower on Wednesday, as high oil prices gave rise to fears of renewed inflationary pressures and interest rate hikes.

Read more
31 Aug 2023 17:02

Miners drag FTSE 100 lower to snap 6-day winning streak

Glencore among top losers on FTSE 100

*

Read more
31 Aug 2023 16:50

LONDON MARKET CLOSE: FTSE 100 down amid stubborn US inflation

(Alliance News) - Stock prices in London closed mixed on Thursday, after news that a key US inflation reading came in in line with market expectations.

Read more
31 Aug 2023 12:00

LONDON MARKET MIDDAY: FTSE 100 edges lower ahead of US inflation print

(Alliance News) - The FTSE 100 tipped into the red at midday on Thursday as investors nervously awaited the latest print of the US Federal Reserve's preferred inflationary gauge, the personal consumption expenditures index.

Read more
31 Aug 2023 07:49

LONDON BRIEFING: Stocks seen higher; Grafton begins another buyback

(Alliance News) - Stocks in London are set to open higher on Thursday as market focus turns to inflation and whether it is cooling enough to justify a pause in September from the European Central Bank and the US Federal Reserve.

Read more
30 Aug 2023 17:55

TOP NEWS: M&S returns to FTSE 100 after four years, Persimmon exits

(Alliance News) - FTSE Russell confirmed on Wednesday that the following changes will take effect to its UK indices from the market open on Monday, September 18, after completing its quarterly review.

Read more
29 Aug 2023 17:00

Miners, homebuilders boost FTSE 100 to 2-weeks high

FTSE 100 hits 2-week high

*

Read more
29 Aug 2023 09:27

LONDON BROKER RATINGS: UBS cuts HSBC; Barclays cuts SDCL Energy

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

Read more
23 Aug 2023 10:24

Britain's Ocado Retail and Sainsbury's cut prices again

Ocado Retail cuts prices of 200 products

*

Read more
23 Aug 2023 08:54

LONDON MARKET OPEN: Stocks rise ahead of Jackson Hole, Nvidia results

(Alliance News) - Stock prices in London opened higher on Wednesday, as the mood in European markets continued to improve.

Read more
23 Aug 2023 07:09

Dechra, Hikma, M&S and Diploma set to join FTSE 100

MILAN, Aug 23 (Reuters) - Drugmakers Dechra and Hikma, along with retailer Marks & Spencer and technical products provider Diploma are set to join the UK's blue-chip FTSE 100 index in September, indicative changes announced by FTSE Russell show.

Read more
23 Aug 2023 00:01

Britain's Ocado Retail cuts prices again

Heinz beans, Quaker oats among price reductions

*

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.