UK car insurance costs jump 40 per cent hitting all-time high July 19, 2023 The cost of car insurance has risen to an “all-time high” with motorists shelling out a record 40 per cent more for insurance premiums than last year, new data reveals. On average, UK drivers are now paying £776 to insure their cars, up from £222 one year ago, according to Confused.com and Willis Tower Watson’s [...]
FTSE 100 close: London markets rise strongly after June inflation comes in lower than expected July 19, 2023 London markets breathed a sigh of relief on Wednesday after inflation finally came in lower than expected. The bluechip FTSE 100 closed 1.8 per cent higher at 7,588.20 while the midcap FTSE 250 index, which is more aligned with the health of the domestic economy, ended 3.8 per cent higher at 19,322.52. Investors were buoyed [...]
Estee Lauder hit by cyberattack affecting some business operations July 19, 2023 Cosmetics maker Estee Lauder said a hacker had obtained some data from its systems, with the cyber incident causing, and expected to further cause, disruption to parts of the company’s business operations. The MAC Cosmetics owner was working to restore the affected systems and had implemented measures to secure its operations, including taking down some [...]
Confirmed: Jaguar owner Tata to build £4bn battery factory in the UK July 19, 2023 Jaguar Land Rover’s owner has confirmed it will invest £4 billion to build a gigafactory in the UK, in a major boost for the British automotive sector and following months of speculation. Tata Group – the Indian conglomerate who have owned JLR since 2008 – said that its investment in the new 40GWh battery plant [...]
Wagamama owner TRG dines out on cost savings as closure programme continues July 19, 2023 Wagamama owner The Restaurant Group (TRG) has seen revenues rise despite the cost of living crisis, it confirmed this morning, with plans to reduce overheads with a raft of closures continuing apace. Like-for-like sales in its most popular chain, Wagamama grew 21 per cent in the two weeks to 16 July 2023, despite trading being [...]
Cities are ecosystems and we need to constantly refresh them July 19, 2023 Oxford Street is, despite the fact that most Londoners venture their only under the most extreme of Christmas present pressures, a literal shop window for the capital. That it has been recently taken over by garish American candy stores and knock-off vape shops is, therefore, less than ideal. The steps Westminster Council are taking, then, [...]
Illegal London candy stores turned into rent free shops in Oxford Street clean-up July 19, 2023 Oxford Street is set for a major revamp as Westminster City Council launches a new £10m scheme to transform London’s iconic high street. The council will make shops vacated by illicit candy stores, which have blighted the leading retail destination, available to small business owners rent free and lower their business rates by 70 per [...]
Restaurateurs reeling as no shows cost sector £90 per missing head July 19, 2023 Restaurateurs are reeling as punters not showing up for dinner costs businesses £90 per head, a new study has shown, leading many to consider throwing in the towel for good. A rising number of diners cancelling at the last minute, or just not turning up, over the last year has led to almost a fifth [...]
The Notebook: Neil Bennett on leaky deals, an archaic City ritual and a podcast with a point July 19, 2023 In his latest column for City A.M., the former journalist and now global co-CEO of advisory and communications firm H/Advisors gives his take on the Square Mile’s latest Deal leaks are part of the City’s plumbing A few days ago my firm, H/Advisors, published a survey about leaks, the financial information kind rather than plumbing [...]
Mega UK Jaguar Land Rover battery plant could be announced this week July 18, 2023 The government is on the cusp of securing a long-term deal from Tata Group to build a new range of EV Jaguar and Land Rover models.