Wednesday newspaper round-up: Funeral costs, Frasers Group, KKR
By Michele Maatouk
Date: Wednesday 15 Jan 2025
(Sharecast News) - The "cost of dying" has hit a record high, prompting growing numbers of grieving UK families to turn to crowdfunding or sell possessions to help pay for a funeral, according to a report. The average cost of a basic funeral has increased by 3.5% in a year to hit an "all-time high" of £4,285, according to the insurer SunLife, which has been monitoring UK funeral costs for two decades. - Guardian
The owner of Sports Direct has confirmed that two-thirds of its retail workforce remain on zero-hours contracts ahead of new legislation designed to limit their use. Frasers Group told MPs who are examining plans to strengthen protection for employees that 11,500 staff were on the contracts, which do not guarantee any weekly working shifts, and did not receive compensation even if shifts were changed at the last minute. - Guardian
Rachel Reeves's Budget tax raid will result in fewer workers across the retail sector, sparking fears that customers will receive worse customer service. As well as warning of price rises following the Budget, the British Retail Consortium (BRC) has said employers are also preparing to cut back on staffing to cover the cost of higher National Insurance rates. In its latest survey, the lobby group revealed that almost half of retail bosses expect to trim headcount in shops (46pc), while the majority of businesses (56pc) are also planning to reduce hours and pare back overtime. - Telegraph
KKR, the American private equity group, has appointed Sir Jeremy Darroch, a former boss of Sky, as an executive adviser to help it grow its telecoms, media and technology activities. Darroch, who was Sky's chief executive between 2007 and 2021, will help "identify new investment opportunities", KKR said. - The Times
The UK economy is edging closer to stagflation amid the sharpest fall in business confidence in two years and entrenched anxieties about tax rises, a survey shows. An index of business confidence compiled by the Institute of Chartered Accountants in England and Wales (ICAEW) slid by 14.2 points over the past three months to 0.2, the weakest reading since the final quarter of 2022 when the UK was gripped by financial market volatility after the mini-budget. - The Times
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