M&S picks Coles executive Thinus Keeve to drive retail strategy
UK-based retailer Marks and Spencer (M&S) has appointed Thinus Keeve as its new retail director, effective from 6 June 2025, to boost its strategy and strengthen leadership.
In a statement on LinkedIn, M&S chief executive Stuart Machin said that Keeve brings with him a wealth of experience from Australia, having held several senior leadership roles at Coles supermarket.
His responsibilities at M&S will encompass all stores across the UK and the Republic of Ireland, in addition to central store operations.
As part of his integration into the company, Keeve will spend his initial month working within stores to forge strong connections with colleagues and customers.
Keeve will then join the M&S executive committee (ExCo) in July, ensuring that store operations remain central to the company's decision-making process.
Keeve will report to operations director Sacha Berendji.
Berendji is tasked with the oversight of retail, property, security and business continuity, as well as heading the store rotation programme, a pivotal element in the company's growth plans.
In April 2025, M&S announced plans to invest £90m to open 17 new and revamped stores in London up to 2026.
The company's growth strategy includes the launch of foodhalls in high-profile locations such as Covent Garden, Clapham Common, Putney and Fulham Broadway, pending planning approvals.
M&S previously pledged £95m to increase its retail pay offer, despite facing additional financial pressures due to recent government measures such as an increase in employer National Insurance contributions.
"M&S picks Coles executive Thinus Keeve to drive retail strategy" was originally created and published by Retail Insight Network, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
27 minutes ago
- Yahoo
Cathie Wood sells $9.5 million of popular AI stocks after big rally
Cathie Wood sells $9.5 million of popular AI stocks after big rally originally appeared on TheStreet. Cathie Wood is known for making bold bets on the future of technology, and just as known for cashing out when the timing feels right. In the past week, the chief of Ark Investment Management trimmed some high-flying stocks, including one stock that's skyrocketed more than 270% and another that's climbed over 80% year-to-date. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 Wood's funds have been through a volatile ride this year, swinging from strong gains to sharp losses, and now back to outperforming the broader market. In January and February, the Ark funds rallied as investors bet on the Trump administration's potential deregulation that could benefit Wood's tech bets. But the momentum faded in March and April, with the funds trailing the market as top holdings—especially Tesla, her biggest position—slid amid growing concerns over the macroeconomy and trade policies. Now, the fund is regaining momentum. As of June 13, the flagship Ark Innovation ETF () is up 8% year-to-date, outpacing the S&P 500's 1.6% gain. Wood had a remarkable gain of 153% in 2020, which helped build her reputation and attract loyal investors. Still, her long-term performance has made many others skeptical of her aggressive style. As of June 13, Ark Innovation ETF, with $5.5 billion under management, has delivered a five-year annualized return of 0.4%. In comparison, the S&P 500 has an annualized return of 16.2% over the same period. Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology, and robotics. Wood says these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood recently said the U.S. is coming out of a three-year 'rolling recession' and heading into a productivity-led recovery that could trigger a broader bull market. In a letter to investors published in late April, she dismissed predictions of a recession dragging into 2026, as she expects "more clarity on tariffs, taxes, regulations, and interest rates over the next three to six months." "If the current tariff turmoil results in freer trade, as tariffs and non-tariff barriers come down in tandem with declines in other taxes, regulations, and interest rates, then real GDP growth and productivity should surprise on the high side of expectations at some point during the second half of this year," she wrote. She also struck an optimistic tone for tech stocks. "During the current turbulent transition in the US, we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. Investor confidence has wavered. Over the past year, the Ark Innovation ETF saw $2 billion in net outflows, as some investors grew wary of volatility and underperformance. But in a potential sign of renewed interest, the fund brought in $250 million in fresh capital between June 7 and June 12, according to ETF research firm VettaFi. On June 11, Wood's Ark funds sold 55,829 shares of Palantir Technologies () . That chunk of stock was valued at roughly $7.6 million. Palantir is known for providing AI-driven data analytics software to the U.S. government, military, and commercial clients company reported stronger first-quarter revenue in May and raised its full-year outlook as demand for AI tools increased. 'We are delivering the operating system for the modern enterprise in the era of AI,' CEO Alex Karp many tech stocks have struggled this year, Palantir has stood out. Its shares are up 81.7% in 2025 and just hit a record close of $137.40 on June 13. Much of the recent momentum comes from its government work. Back in May 2024, Palantir won a $480 million, five-year U.S. Army contract to build its Maven Smart System, which is a battlefield AI prototype. Last month, the Defense Department modified the contract, increasing the licensing ceiling from $480 million to $1.275 billion. Palantir's Foundry platform has been adopted by at least four federal agencies, including the Department of Homeland Security and the Department of Health and Human Services, according to a New York Times report published May 30. Fannie Mae also announced a partnership with Palantir in May to work on AI-based fraud detection. Palantir remains a core position for Wood even after recent sales. The stock is now the 8th largest holding in the ARK Innovation ETF, accounting for 4.7%. Wood said in February that she's moving away from hardware and infrastructure and doubling down on software, with Palantir as one of her top picks. 'Palantir is a very expensive stock, but there's nothing like it in the software space,' Wood said in a CNBC interview. 'It is, we believe, going to dominate the biggest part of the tech stack when it comes to AI. And that's the platform as a service part of the stack.' Another big trade Wood made on June 11 was selling 12,728 shares of CoreWeave Inc. () , valued at roughly $1.9 million. CoreWeave is a cloud infrastructure company specializing in GPU-accelerated computing for artificial intelligence and machine learning workloads. The company has delivered explosive growth and won support from Nvidia and March 28, CoreWeave launched its initial public offering, which was one of the largest AI-related listings since 2021. Since then, the stock is up more than 277%. That company is now Nvidia's largest holding, making up more than 78% of its disclosed portfolio. In the first quarter this year, Nvidia bought 24,182,460 shares after the IPO, according to data from WhaleWisdom based on 13F filings. On May 14, CoreWeave reported better-than-expected revenue on Wednesday in the company's first earnings release since going public. CoreWeave reported a 420% year-over-year revenue increase to $981.6 million for the first quarter. Despite this growth, the company's net loss widened to $314.6 million from $129.2 million a year earlier, partly driven by $177 million in stock-based compensation linked to its IPO. Bloomberg reporter Ryan Vlastelica commented that CoreWeave and Palantir are drawing comparisons to meme stocks after sharp rallies. But unlike GameStop, both are backed by strong demand. Still, valuations are a concern. Palantir trades at 71 times estimated sales, the highest in the S&P 500. CoreWeave, despite a $315 million loss last quarter, is valued at 10 times projected sales, well above the S&P 500's average of 3, Bloomberg reported. CoreWeave is not in Ark Innovation's top 10 holdings. Wood's recent trades also include buying shares of GitLab () , selling Kratos Defense () and Roblox () .Cathie Wood sells $9.5 million of popular AI stocks after big rally first appeared on TheStreet on Jun 15, 2025 This story was originally reported by TheStreet on Jun 15, 2025, where it first appeared.
Axios
28 minutes ago
- Axios
Exclusive: Zorro clinches $20M Series A for ICHRA health plans
Health benefits provider Zorro raised $20 million in Series A funding led by Entrée Capital, CEO Guy Ezekiel tells Axios exclusively. Why it matters: As employers wrestle with rising health plan costs, individual coverage health reimbursement arrangements (ICHRAs) are gaining steam. Driving the news: Launched in 2020, ICHRAs were enabled by a Trump-era rule letting employers reimburse employees tax-free for individual health insurance instead of offering group plans. After a slow start, rule clarifications and compliance tools made them more accessible to midsized employers. Follow the money: Existing backers Pitango and 10D joined the round, which will be used to scale operations and improve support for employers. The Series A brings Zorro to $31.5 million total raised. The company is not yet profitable. How it works: New York City-based Zorro replaces traditional group plans with defined-contribution models. Employers set a budget; employees use Zorro's AI engine to select personalized plans, and brokers get real-time tools to compare group plans versus ICHRA-based options. When it onboards an employer, Zorro asks them to send their benefits roster from the previous year, asks about quality and budget priorities for the upcoming year, and helps predict what benefits employees might want next. Zorro has "several thousand" lives on the platform, per Ezekiel. Between the lines: Zorro's pitch hinges not just on cost control but on its ability to shift complex decision-making from HR to software — claiming that 75% of users enroll without human help. What they're saying: "We're giving the employer a line of sight to how his upcoming year is going to look," says Ezekiel. Reality check: While ICHRAs are gaining traction, they remain a small fraction of the employer market. Zorro's long-term success depends on widespread broker adoption and employee trust in AI-led benefit decisions. State of play: A February Bailey's report predicted the debut of several new ICHRA startups in 2025. Several others have secured recent funding. In April, Thatch raised $40 million in Series B funding led by Index Ventures and Venteur Health Insurance raised a $20 million Series A led by Informed Ventures and American Family Ventures. Remodel Health last December collected more than $100 million in a round led by Oak HC/FT and Hercules Capital.
Yahoo
30 minutes ago
- Yahoo
Joint Statement by Prime Minister Carney and Prime Minister Starmer
OTTAWA, ON, June 15, 2025 /CNW/ - Today, Mark Carney, Prime Minister of Canada, and Sir Keir Starmer, Prime Minister of the United Kingdom (UK), met in Ottawa to reaffirm the profound friendship and shared values that unite both nations. The Canada-UK partnership, rooted in a common history and enduring people-to-people ties, continues to grow stronger, with a focus on delivering prosperity and security for the working people of Canada and the UK alike. The two leaders discussed the many geopolitical challenges currently facing the world, including in the Middle East and tensions in the Indo-Pacific region, and reaffirmed their steadfast support for Ukraine in the face of Russia's illegal and unjustifiable war of aggression. The two leaders underscored the importance of a fair, open and predictable global trading system; reiterated their commitment to a rules-based international order underpinned by respect for sovereignty and territorial integrity; and committed to advancing peace and trans-Atlantic security. They agreed the following joint initiatives aimed at strengthening economic growth and prosperity and enhancing collective security and defence: Growth and Innovation Partnership Canada and the UK are committed to delivering economic growth for their people. The two Prime Ministers today announced further collaboration on trade, science, technology and innovation. Through their Partnership, Canada and the UK will work together to: Trade: Strengthen trade ties as trusted, reliable partners. This will include expanding trade under the Canada-UK Trade Continuity Agreement. We will establish a new structured UK-Canada Economic and Trade Working Group to deepen our existing trading relationship further, including to address existing market access barriers, to expand existing arrangements into new areas, such as digital trade, and to explore cooperation in the development of critical minerals and sovereign artificial intelligence infrastructure. The working group will report back to both Prime Ministers within six months. Canada will seek to introduce legislation this autumn to ratify the UK's accession to the Comprehensive and Progressive Trans-Pacific Partnership. Semiconductors: Deliver industrial R&D projects to enhance both nations' complementary strengths in semiconductors, photonics, emerging materials and chip design. They will deepen connections between the innovation rich semiconductor ecosystems in Canada and the UK to help build resilient supply chains and accelerate breakthroughs in this key sector that is driving economic growth. Quantum: Announce a joint commitment to develop secure, transatlantic communications based on quantum technologies, allowing us to connect our national systems and lay the groundwork to create a truly global, next-generation network, with applications across our financial and telecoms sectors. Digital: Mutually reinforce nation-building digital public infrastructure by co-developing policy levers and standards, and common technology components. Artificial Intelligence: Deepen and explore new collaborations on frontier AI systems to support our national security. This will include a partnership agreement to strengthen existing collaboration on AI safety and security between the Canadian AI Safety Institute and UK AI Security Institute, and new Canadian and UK MOUs with leading Canadian AI firm Cohere. Under the Canadian MOU, Cohere will collaborate with the Canadian AI Safety Institute and develop their commitment to building cutting-edge data centres in Canada. Under the UK MOU, Cohere will expand their UK presence to support the delivery of the UK AI Opportunities Action Plan. Both MOUs reflect ongoing collaboration on the application of AI tools in security and intelligence and are rooted in Cohere's strong foundations in Canada and ongoing commitment to the UK. Biomanufacturing: Strengthen collaboration to deliver economic growth and be better prepared for future health emergencies, including a joint investment of $14.8 million to support joint biomanufacturing research and development that will grow the talent and skills pipeline in both countries, and to help businesses scale. Civil Nuclear: Develop a world-leading fusion energy collaboration and deepen cooperation on nuclear energy from fission to reduce the influence of Russia on our international fuel supply chains. Critical Minerals: Intensify bilateral cooperation by conducting a strategic mapping exercise to pinpoint key critical minerals, infrastructure, production and processing capacities. They will identify projects for joint investment to support secure and sustainable critical minerals supply chain development and leverage all available financial tools to mobilize funding and drive production to strengthen our manufacturing and mining sectors. Enhanced Defence and Security Partnership The two leaders agreed to strengthen cooperation – both bilaterally and through the NATO Alliance and Five Eyes partnership – to safeguard democratic values advance global stability and ensure the safety of our people in an increasingly complex world. To achieve this, they committed to: Ukraine: Further support Ukraine in its self-defence against Russia's war of aggression. This will include continued support for the Coalition of the Willing and respective efforts to support Ukraine's domestic defence industrial production. The UK and Canada will continue to work together to support the Air Force Capability Coalition and develop cutting edge aircraft weaponry technology in support of Ukraine. Military Cooperation: Position the Canada-UK defence relationship for further growth across military operations, industrial collaboration, and defence innovation, catalyzed by Canada's newly announced defence investment trajectory and the UK's Strategic Defence Review. Canada and the UK will work towards a new permanent arrangement for the long-term and sustainable use of British Army Training Unit Suffield (BATUS) through the "BATUS Future Project". The Project will deepen the Canada-UK relationship on defence and showcase CFB Suffield as a multi-purpose facility for the development and testing of new equipment and cutting-edge technology which are vital to maintaining our shared security and prosperity. Intelligence: Build on the long history of deep and productive collaboration between our security and intelligence organizations by launching coordinated operational campaigns to combat terrorism and violent extremism, and deepening collaboration on enhanced intelligence collection, including by expanding officer exchange programs. National Security: Tackle evolving state threats together, including sabotage, transnational repression, foreign interference, malicious cyber activity, information manipulation and economic coercion, all of which seeks to undermine our national security and that of our Allies and partners. This will include joint work to invest in civil society organizations actively working to counter digital transnational repression through the Joint Canada-UK Common Good Cyber Fund, a first-of-its-kind multilateral fund aimed at supporting civil society actors at high risk. To kickstart this fund, Canada and the UK are providing $5.7 million in seed funding to the Fund, which will be disbursed over 5 years. They also agreed to strengthen bilateral development and delivery of secure communications products and cutting-edge cryptography and explore new research partnerships to address gaps in AI security and evolve AI models to support national security. Border Security: Strengthen bilateral cooperation to tackle transnational organized criminal organizations engaged in the illicit movement of goods and narcotics, and bolster our response to combat irregular migration, migrant smuggling and human trafficking, including through deeper bilateral information and knowledge exchange. This document is also available at SOURCE Prime Minister's Office View original content:
