Today’s news in brief-15/8/24

The UK economy showed resilience with a 0.6% growth in the second quarter of 2024, despite a stagnant June where GDP showed no growth. The Office for National Statistics reported that this growth follows a 0.7% increase in the first quarter. The service sector played a crucial role, expanding by 0.8%, although production and construction saw slight declines. Factors contributing to growth included increased capital formation, government spending, and household consumption, somewhat offset by decreased net trade.

Victoria’s Secret has appointed Hillary Super as its new CEO, effective September 9, 2024. Super, known for her leadership at Savage X Fenty and Anthropologie Group, aims to leverage the company’s strengths in intimate apparel and beauty to enhance its market position and accelerate growth. Her appointment follows the tenure of Martin Waters, who will transition to an advisory role until August 31, 2024, ensuring a smooth handover.

Aldi announced the discontinuation of its click-and-collect service, effective August 18, 2024. The decision reflects Aldi’s strategy to focus on in-store operations, maintaining cost efficiencies to sustain competitive pricing. This move follows earlier terminations of home delivery services for alcohol and Specialbuys, aligning with Aldi’s commitment to streamline operations and uphold its market position as a discount supermarket chain.

Amazon has been cleared by the UK Civil Aviation Authority to conduct drone trials beyond visual line of sight, a critical step towards introducing delivery drones in the UK. The trials, set to begin in locations including Kirkwall, aim to gather data on safety protocols and integration with existing airspace management systems. Amazon’s initiative underscores broader efforts to modernise UK airspace and integrate new technologies, potentially revolutionising delivery logistics and safety standards.