Asian Currencies Stay Under Pressure as Dollar Holds Near 13-Month High Ahead of U.S. Jobs Report 
Nvidia Stock Rises as SemiAnalysis Sees AI Data Center Revenue Beating Wall Street Forecasts 
Gold Prices Drop as Fed Rate Outlook and Iran Tensions Weigh on Market 
Asian Stocks Mixed as South Korea Slides on Profit-Taking, Japan and China Gain on Strong Factory Data 
Chip Stocks Rally as Samsung and SK Hynix’s $1.3 Trillion Investment Plan Boosts AI Optimism 
Baige Online Shares Soar 333% in Hong Kong IPO Debut as AI Insurance Demand Lifts Chinese Listings 
Asian Stocks Slide as Chip Shares Tumble Ahead of Key U.S. Jobs Report 
India Manufacturing PMI Slows in June as Demand Weakens Despite Lower Cost Pressures 
US Egg Producers Settle Price Manipulation Probe, Agree to Pay $3.3 Million and Donate 53 Million Eggs 
US Resumes Dollar Shipments to Iraq After Months-Long Suspension 
Wall Street Futures Rise Ahead of JOLTS Data, Nike Earnings, and U.S.-Iran Talks 
SoftBank’s LY Corp, Bain Raise Kakaku.com Bid to ¥670 Billion, Intensifying Takeover Battle 
South Korean Stocks Tumble as AI Chip Selloff Hits Asian Markets 
Australia Sues Amazon Over Prime Video Ads and Subscription Terms 
Buffett Delays Gates Foundation Donation Pending Epstein Ties Review 
Gold Price Holds Above $4,000 as Fed Rate Hike Expectations and U.S. Jobs Data Weigh on Market 
Marks & Spencer is reportedly planning to establish at least 20 new store outlets throughout Britain. It was reported on Monday, Jan. 16, that the clothing and food retail company would open eight full-line branches in major shopping centers in Manchester, Trafford Centre, Bullring, and Birmingham.
Marks & Spencer is also setting up new stores in places with high foot traffic, such as parks and high streets in the country. As per Reuters, the company will also be adding 12 food halls to its portfolio, and these will be built in places like the North Ayrshire seaside town of Largs, Scotland and Stockport, Barnsley.
It was noted that Marks & Spencer already forwarded its proposal to reduce the number of its full-line stores in November of last year. It was said that the target is to shrink the number of locations from 67 to 180 by the year 2028. Instead, the company will increase its food shop outlets by 104 to 420.
Stuart Manchi, the company’s chief executive officer, said that the new investments for this project would create more jobs across the United Kingdom. Around 3,400 new jobs are set to be created, plus the new store openings are expected to bring in new sales as part of its £480 million or about $586.94 million investment scheme as it recovers from the COVID-19 pandemic slump.
Financial Times reported that this year, Marks and Spencer would launch 20 new stores. The move is part of the company's plan to accelerate its restructuring program after shutting down 110 stores.
It is aiming to make a comeback with bigger and better food sites and fewer retail outlets for clothing and home sales. This means that customers will see more of the brand’s “Simply Food” outlets than its usual Marks & Spencer stores.
“The outperformance of our recently relocated and renewed stores gives us the confidence to go faster in our plan,” M&S’ CEO Stuart Machin said in a statement. “Our investment in stores not only delivers a better experience for customers and colleagues but it boosts local communities with new job creation.”
Photo by: Samuel Regan-Asante/Unsplash
