Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE
Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc
Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRocView Video
Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors
Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investorsView Video

Latest Share Chat

Pin to quick picksNext Share News (NXT)

Share Price Information for Next (NXT)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 9,232.00
Bid: 9,238.00
Ask: 9,244.00
Change: 44.00 (0.48%)
Spread: 6.00 (0.065%)
Open: 9,228.00
High: 9,298.00
Low: 9,182.00
Prev. Close: 9,188.00
NXT Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-Britain's Costa Coffee joins rush to hike workers' pay

Wed, 30th Sep 2015 15:30

(Adds comments from analyst, background)

By Paul Sandle

LONDON, Sept 30 (Reuters) - Customers at Costa Coffee mayget an extra-caffeinated level of service on Thursday morning,when the chain becomes the latest British retailer to hike wagesmonths before a government measure to raise minimum pay levelscomes into effect.

The chain, part of leisure group Whitbread, said onWednesday its 12,500 trained baristas would earn a minimum of7.40 pounds ($11.21) an hour, and 8.20 pounds in London, some 20pence above the new "living wage" coming in next April.

Costa is following rival Starbucks and retailersMorrison and Lidl in announcing pay hikes for thousandsof staff. Managing Director Chris Rogers said the rise had beenin the works for months and was not prompted by the government'sannouncement in July.

"We've been planning for some time to look at the pay ratesbecause we think it's really important our team share in thesuccess of our business," he said. "It's not a knee-jerkreaction."

Whitbread, along with clothing retailer Next, pubsgroup Wetherspoon, and care workers provider Mears, had warned they would struggle with higher costs as aresult of the minimum wage rise.

The wholesale and retail, hospitality and support servicesindustries combined employ 46 percent, or 2.7 million, of thoseearning below the new minimum, according to the ResolutionFoundation think tank.

Conor D'Arcy, policy analyst at the foundation, said themove showed big employers in low-paying sectors could adjust.

Costa's Rogers said it was difficult to calculate the netcost of the rise, because the company was also making better useof technology and improving productivity.

But he said it would not stop the group opening new stores."(The rise) underpins our growth plans, because people are suchan important ingredient in our business, so the better people wehave, the better experience our customers will have," he said.

Finance Minister George Osborne in July announced a 10.7percent rise in the minimum wage to 7.20 pounds an hour fromnext April for workers aged over 25, rising to 9 pounds an hourby 2020, saying Britain "deserved a pay rise".

The higher wage, which comes as the government curbsbenefits that top-up pay for many low earners with children,will cost jobs, but Osborne said the effect would be small.

($1 = 0.6604 pounds) (Editing by David Holmes and Mark Potter)

More News
25 Mar 2024 10:19

LONDON BROKER RATINGS: SocGen raises Sage; Numis cuts Virgin Money

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

Read more
22 Mar 2024 09:21

British Land appoints Next's CFO as non-executive director

(Alliance News) - British Land Co PLC on Friday said it has hired fashion retailer Next PLC's chief financial officer, Amanda Jones, as non-executive director, with effect from July 1.

Read more
22 Mar 2024 08:59

LONDON BROKER RATINGS: RBC cuts St James's Place; HSBC cuts Ascential

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

Read more
21 Mar 2024 16:53

LONDON MARKET CLOSE: FTSE 100 up as investors see Fed, BoE cuts ahead

(Alliance News) - London's FTSE 100 jumped on Thursday, as markets rallied on the back of dovish interest rate decision statements from both the US Federal Reserve and Bank of England.

Read more
21 Mar 2024 16:33

London close: Stocks rise as BoE keeps rates on hold

(Sharecast News) - London markets closed higher on Thursday, sustaining gains after the Bank of England adhered to expectations by maintaining interest rates at a 16-year high.

Read more
21 Mar 2024 13:24

Moneysupermarket.com hires chair designate as part of succession plan

(Alliance News) - Moneysupermarket.com Group PLC on Thursday announced the appointment of its new chair designate as an independent non-executive director.

Read more
21 Mar 2024 12:19

LONDON MARKET MIDDAY: Stocks boosted as BoE keeps rates unchanged

(Alliance News) - Stock prices in London were higher at midday Thursday, after the Bank of England left interest rates unchanged, in a vote which remained split.

Read more
21 Mar 2024 09:20

TOP NEWS: Next celebrates record year as profit beats expectations

(Alliance News) - Next PLC on Thursday maintained its sales and profit guidance for the coming financial year after reporting record figures last year.

Read more
21 Mar 2024 08:59

LONDON MARKET OPEN: New York rally extends to London ahead of BoE

(Alliance News) - Stock prices in London opened higher on Thursday, following in New York's footsteps.

Read more
21 Mar 2024 07:52

LONDON BRIEFING: Stocks called up thanks to New York rally

(Alliance News) - Stocks in London are to open higher on Thursday, after a global equity market rally following the latest interest rate call from the US Federal Reserve.

Read more
21 Mar 2024 07:09

Next holds guidance as annual profits rise 5%

(Sharecast News) - Shares in UK fashion retailer Next jumped on Thursday as it held guidance for 2024 after posting a better-than-expected 5% rise in annual profits and flagged lower prices for customers this year.

Read more
14 Mar 2024 15:06

UK earnings, trading statements calendar - next 7 days

Friday 15 March 
Berkeley Group Holdings PLCTrading Statement
Volution Group PLCHalf Year Results
Monday 18 March 
Marshalls PLCFull Year Results
Seeing Machines LtdHalf Year Results
Serinus Energy PLCFull Year Results
SigmaRoc PLCFull Year Results
Team Internet Group PLCFull Year Results
Tuesday 19 March 
Atalaya Mining PLCFull Year Results
Close Brothers Group PLCHalf Year Results
DFS Furniture PLCHalf Year Results
Eagle Eye Solutions Group PLCHalf Year Results
Essentra PLCFull Year Results
Fintel PLCFull Year Results
Litigation Capital Management LtdHalf Year Results
Midwich Group PLCFull Year Results
Mpac Group PLCFull Year Results
MP Evans Group PLCFull Year Results
Pebble Group PLCFull Year Results
Personal Group Holdings PLCFull Year Results
Sabre Insurance Group PLCFull Year Results
Staffline Group PLCFull Year Results
Tissue Regenix Group PLCFull Year Results
Trustpilot Group PLCFull Year Results
Yu Group PLCFull Year Results
Zotefoams PLCFull Year Results
Wednesday 20 March 
Computacenter PLCFull Year Results
EKF Diagnostics Holdings PLCFull Year Results
Eurocell PLCFull Year Results
FDM Group PLCFull Year Results
Investec PLCTrading Statement
Kenmare Resources PLCFull Year Results
Prudential PLCFull Year Results
VietNam Holding LtdHalf Year Results
Thursday 21 March 
Aptitude Software Group PLCFull Year Results
Aquis Stock Exchange PLCFull Year Results
Centamin PLCFull Year Results
Direct Line Insurance Group PLCFull Year Results
Dowlais Group PLCFull Year Results
Energean PLCFull Year Results
Gulf Keystone Petroleum LtdFull Year Results
Hostelworld Group PLCFull Year Results
Ithaca Energy PLCFull Year Results
M&G PLCFull Year Results
National World PLCFull Year Results
Next PLCFull Year Results
Secure Trust Bank PLCFull Year Results
Tribal Group PLCFull Year Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
26 Feb 2024 09:36

PRESS: Next mulls rescue bid for ailing beauty chain, the Body Shop

(Alliance News) - Next PLC has approached administrators to the Body Shop about a potential deal to purchase parts of the stricken cosmetics chain, according to a report on Saturday.

Read more
1 Feb 2024 16:48

London close: Stocks turn lower as BoE keeps rates on hold

(Sharecast News) - London's financial markets finished in the red on Thursday, reversing earlier gains after the Bank of England maintained interest rates at current levels.

Read more
1 Feb 2024 13:34

Broker tips: Next, Marshalls, easyJet

(Sharecast News) - Barclays downgraded Next to 'equalweight' from 'overweight' on Thursday but lifted the price target to 8,500p from 8,250p, as it said the valuation is now reasonable.

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.