Cost of living crisis: 63 per cent of Brits now shop at discount grocery stores August 22, 2023 More than half of shoppers now shop at discount grocery stores as Brits continue to seek out bargains amid the cost of living crisis. According to new data released by NIQ, in the last four weeks some 63 per cent of the public shopped at value chains such as Aldi, B&M and Poundland, with over [...]
Zoom: Share bump after pumping up full year guidance August 22, 2023 Pandemic darling Zoom beat expectations and raised full year guidance in its second quarter as it remains hopeful in its long-term strategy - although customer growth is sluggish.
Fyre Festival founder reveals festival’s return and sells tickets despite no location or event date August 22, 2023 Uh oh, Fyre Festival is returning at the end of 2024. But it’s somewhat of an overstatement to say the festival is ‘returning,’ given the inaugural Fyre Festival basically didn’t happen. As documented by the viral Netflix documentary, Fyre Festival was a disaster on a mass scale. Hundreds of ticketholders were left stranded on a [...]
London SMEs committing over half of annual revenue to tech investment, data reveals August 22, 2023 London’s small and medium-sized enterprises (SMEs) are ramping up their tech budgets, allocating over half of their annual revenue to technology investments, according to a report by Barclays. In the capital, SMEs are directing an average of 54 per cent of their annual revenue to technology investments, such as data analytics and artificial intelligence tools, [...]
FTSE 100 bosses got a £500,000 pay hike last year – but guess who got paid the most? August 22, 2023 The salary of FTSE 100 chief executives surged by 16 per cent in 2022, according to new figures out today. The figures, collated by think tank the High Pay Centre (HPC), revealed the median pay for the bosses of the UK’s top 100 firms reached £3.91m in 2022, a £500,000 jump from £3.41m in 2021 [...]
The Notebook: Victoria Scholar on falling house prices, global travel’s acceleration and Netflix’s Sackler drama August 22, 2023 Today, Victoria Scholar, head of investment at Interactive Investor, takes the City A.M. notebook pen The only thing being built is negative momentum Rising interest rates, high inflation and the cost of living crisis are starting to take a serious toll on the UK housing market. Just this week, data from Rightmove pointed to a [...]
Individual climate action is rendered meaningless if the big polluters – like HGVs – roll on August 22, 2023 Like a ropey old pullover, pulling at the threads of Britain’s net zero efforts can sometimes do more damage. Take our roads, for instance. Over the past decade – in truth the past two or three years – even the country’s most committed petrolheads have come round to the idea of electric cars. Our black [...]
Could hydrogen trucks power up Britain’s push to net-zero? August 22, 2023 Getting the trucking industry to net zero will come with a cost, if it gets there at all
Bitcoin and Ethereum virtually unmoved since yesterday, but the bruises are starting to show August 21, 2023 Although holding steady for 24 hours, Bitcoin is down 11% over seven days while Ethereum has dropped by 9% over the same period.
Retail shares may rise as profit upgrades boost investor confidence August 21, 2023 Retail shares could shoot up over the coming months despite recessionary headwinds, reports from City analysts suggest. Analysts at Peel Hunt said the market was “undervalued,” following a season of profit downgrades issued by major UK retailers that sent investor conference sinking. Many retailers were hit hard by red-hot inflation which led consumers to be [...]