The BBC needs a chief ‘why?’ officer if it’s to regain its relevance August 15, 2023 The BBC is struggling for its survival. It sees a hostile government, new agile competition from streamers and social media, and may soon find out what life is like without the guaranteed income of a licence fee. Faced with this dilemma, the BBC announced a new show yesterday sure to change the institution’s fortunes: a [...]
Commuters face significant rail fare hikes despite ongoing strike disruption August 14, 2023 Commuters are facing a significant rail fare hike, which could add hundreds to the price of their season tickets despite ongoing strike disruption and faltering performance. On Wednesday, the Retail Price Index (RPI) figures used to set next year’s rail fare increase will be announced. Rises in the cost of tickets are typically linked to [...]
Hapag-Lloyd warns Panama Canal drought restrictions could hurt shipping giant August 14, 2023 Shipping group Hapag-Lloyd has warned that using smaller ships on the Panama Canal could make the group “no longer competitive,” as severe droughts continue to disrupt the world’s largest trading route. One of the driest years ever recorded has led the government to impose extended restrictions on shipping groups using the route, with water levels [...]
London tenants continue to suffer as rent reaches £597 per week August 14, 2023 The amount Londoners fork out on rent grew 12 per cent year-on-year in July, new figures show, topping £597 per week. According to data from London estate agent Foxtons, July saw an average of 21 rental applicants per new home arriving on the market, an 18 per cent increase month-on-month, however a 12 per cent [...]
Most European financial services bosses wary of ‘unintended consequences’ of AI August 14, 2023 A new survey has revealed the extent to which chief executives of European financial services companies are concerned about the potential dangers of AI. The latest EY CEO Outlook Pulse Survey has revealed that 63 per cent of financial services bosses are concerned not enough is being done to manage the “unintended consequences” of artificial [...]
Santander becomes latest bank to cut mortgage rates amid falling inflation August 14, 2023 Santander has become the latest high street lender to reduce the rates of its mortgage deals, following a stream of other cuts by fellow banks last week, in a signal of hope for prospective buyers. On Monday, the bank cut its selected residential purchase and remortgage fixed rates by between 0.05 per cent and 0.29 [...]
Avoid ULEZ options but tackle air pollution, Starmer says August 14, 2023 Cities should look at other options for tackling air pollution instead of schemes like London’s ULEZ (ultra low emission zone), Sir Keir Starmer has suggested. The Labour leader said no-one in the UK should be “breathing dirty air” but added that proposals for reducing air pollution should not have a disproportionate impact on people’s pockets [...]
Unilever will look at Russia business with a ‘fresh pair of eyes’ after criticism August 14, 2023 The new chief of Unilever has vowed to look at the company’s decision to operate in Russia with a “fresh pair of eyes,” after it was criticised for continuing to operate in the country. Hein Schumacher, who took over as head of the Dove soap maker in July, made the claim in a letter to [...]
Wilko bidders have until Wednesday to make an offer for troubled retailer August 14, 2023 Bidders for troubled retailer Wilko have reportedly been given until Wednesday to place offers for the company after collapsing into administration last week. A number of discount retailers and financial investors are considering offers for the company, and administrator PwC is seeking offers by the middle of the week, Sky News reported. Last week, the [...]
BBC sells iconic Maida Vale Studios to Hans Zimmer August 14, 2023 The BBC has sold its iconic Maida Vale Studios to a partnership of film producers and composer Hans Zimmer for an undisclosed sum. Once echoing with the sounds of music legends like The Beatles, David Bowie and Dusty Springfield, the recording hub has been sold to a partnership between film producers Tim Bevan and Eric Fellner, [...]