FT News Briefing America's dollar stores get a makeover
Apr 24, 2023
Santander is eyeing top talent from Credit Suisse, aiming to strengthen its investment team. UK's PM Rishi Sunak is working to restore stability after a deputy's scandalous departure. American dollar stores are evolving with inflation, enhancing their grocery sections to attract more customers. Meanwhile, the rapid expansion of online therapy platforms like BetterHelp sparks concern among UK therapists about income pressures and client care quality.
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Santander's poaching strategy
- Santander wants to hire Credit Suisse bankers to boost its investment banking presence.
- The bank is targeting both senior dealmakers and junior employees.
Sunak's Challenges
- UK Prime Minister Rishi Sunak faces challenges including business relations and political scandals.
- Sunak's deputy, Dominic Raab, resigned due to bullying allegations, impacting Sunak's image.
Dollar Stores Adapt to Inflation
- Dollar stores are attracting middle-income consumers due to inflation.
- They are expanding food sections to draw in customers and increase sales of higher-profit items.