Homes more affordable but borrowers stretched by rising mortgage costs August 23, 2023 The cost of a typical house is 6.7 times average earnings in Britain despite the recent slowdown in the property market, according to new figures. Mortgage lender Halifax said this is down from a record high of 7.3 times average earnings last summer, when a UK home cost an average £293,586 and the average annual [...]
Still going strong: Traders all-in on Nvidia hype train August 23, 2023 Nvidia’s shares hit an all-time high on Tuesday, just before the chip designer shares its earnings later today. Stock in the Nasdaq-listed company soared to an all-time high of $481.87 on Tuesday at market open before dipping 2.76 per cent again yesterday. On Monday, the shares received an eight per cent boost. It surpassed its [...]
Reckitt: Retiring CFO to be replaced by Nike finance boss August 23, 2023 Consumer goods giant Reckitt has announced the retirement of its chief financial officer, Jeff Carr, drafting in a business veteran from Nike to replace him. The firm said that Carr will step down next March after nearly four years at the company, with Reckitt praising him for his reducing its net debt and guiding the [...]
Blitz spirit may be overdone but there’s a lesson in taking quick action August 23, 2023 The worst fire in the City’s history was not, in fact, the Great Fire of 1666. It came on a Sunday night in December 1940, when seemingly half of the City was blitzed into oblivion. The other half took its punishment on other nights in that terrible few months. Amongst the many indignities suffered by [...]
Fivefold jump in freight train cancellations threatens to derail firms’ green logistics plans August 23, 2023 A fivefold increase in the number of freight train cancellations threatens undermining a number of firms’ recent decisions to start transporting goods by rail in a bid to reduce their carbon footprints. Freight cancellations between the financial years 2021/22 and 2022/23 rose from 2,492 to 12,708, according to data from a Freedom of Information request [...]
A gig in five years: An immersive dream or virtual insanity? August 23, 2023 The pandemic is over and live music is back. But as the music industry cheers the return of gigs, a number of tech companies are hoping to radically change the way we consume live events in the future.
EP: 224 York Ebor Festival – Thursday August 22, 2023 Day two of the York Ebor Festival on Thursday is Ladies Day and the Group 1 mile and a half Yorkshire Oaks is the highlight of the afternoon’s action. York Racecourse Chief Executive, William Derby tells us all about Ladies Day on the Knavesmire. City AM Racing editor Bill Esdaile previews the best of Thursday’s [...]
Storm in a teacup? Tetley Tea crisis averted as workers accept pay deal August 22, 2023 Workers at Tetley Tea have voted to accept a pay deal that means a potential shortage of one of Britain’s favourite teas has been avoided. The new offer, accepted by the 200 odd workers, consists of a seven per cent pay rise backdated to 1 April 2023. This represents a significant increase on the 4.25 [...]
Getir to slash 2,500 job roles as demand for delivery fades August 22, 2023 Grocery order service Getir will slash 2,500 jobs from its global workforce, in the latest signal that demand for rapidly delivered goods is dwindling. The startup has said it is cutting 10 per cent of its 23,000 strong workforce across the UK, Netherlands, Germany, the US and its homeland of Turkey. In recent months the [...]
Pubs push on with demand to loosen licensing laws after World Cup sales boost August 22, 2023 Pubs are continuing with their demands to amend the country’s licensing laws to permit them to sell alcohol earlier in the day on special occasions. Calls to change the law were ignited in the run up to the Women’s World Cup final. Typically, trading laws only prohibit pubs from pouring drinks from 11:00am, so many [...]