Exclusive: City insider urges retail not to make knee-jerk cuts in ad budgets September 27, 2022 Recent figures show retail is feeling the effects of the cost of living crisis. Latest figures from the Office for National Statistics show a 0.5 per cent drop in spending last month, with a 1.6 per cent decrease in food sales. As a result, many businesses are under so much pressure they have no choice but to [...]
Unlock pension cash or start-ups will continue to flee, says Phoenix chief September 27, 2022 Pension cash must be freed up to flow into high-growth British firms or more homegrown startups will be driven overseas, the chair of pensions giant Phoenix warned today.
5m Brits have more than one job while double that number is looking for a side hustle September 27, 2022 More than 5m Brits are turning to a second or even third job to beat the cost of living crisis, while another 10m are considering it, according to new data out today from insurer Royal London. In fact, a separate study commissioned by GoDaddy shows that nearly one in three of firms that have under 10 employees are secondary [...]
Serica’s profits surge 8,840 per cent amid soaring oil and gas prices September 27, 2022 Soaring oil and gas prices and booming production has powered Serica Energy to an 88-fold surge in profits year-on-year.
Exclusive: Yu Energy warns six-month business support will not be enough September 27, 2022 Market volatility will endure beyond this winter and businesses could face ultra-high energy bills well into next year, warned the boss of challenger supplier Yu Energy.
Hedge funds reap rewards after bets against bonds September 27, 2022 A crop of hedge funds have been reaping bumper profits from a plummeting pound this week after wagering against government bonds and sterling ahead of Kwasi Kwarteng’s tax cutting ‘mini-budget’ on Friday.
Exclusive: STV’s boss on the BBC and conquering the world as Scotland’s peaktime leader September 27, 2022 The British broadcasting sector is hit by one challenge after the next. Following the rapid rise of the likes of Netflix in recent years, the next hurdle presented itself when the pandemic struck two years ago. As a result, the advertising market is under huge pressure and many national and regional broadcasters are struggling to [...]
Brazil threatens UK with WTO action over new deforestation legislation September 27, 2022 The Brazilian government has threatened to challenge proposed UK deforestation legislation at the World Trade Organisation, documents shared with City A.M. this morning reveal. The proposed legislation seeks to prevent ‘large companies’ in the UK from using products grown on illegally deforested land. When asked to disclose submissions by the Brazilian government to its consultations [...]
Ofgem steps in to demand suppliers improve support for vulnerable customers September 27, 2022 Three UK energy firms have severe weaknesses in how they support customers in payment difficulties, according to Ofgem.
Over-50s specialist Saga has 600 per cent increase in underlying profit in Covid revival September 27, 2022 The post-pandemic boom in travel and cruising helped over-50s specialists Saga post a 600 per cent increase in underlying profit for the first half of the year. Saga announced almost £260m in revenue up until July 2022, a 65 per cent increase on the previous year, while its £14m underlying profit brought it back in [...]