Bitcoin cashback announcement ends in controversy for UK fintech Mode November 18, 2021 Major retailers Boots and Ocado have distanced themselves from an announcement claiming they would offer customers cash back in Bitcoin. Today London-listed fintech Mode announced it would be adding more than 40 UK retailers including Boots, Ocado and Homebase to its crypto cashback rewards scheme. However, in comments to City A.M. both Boots and Ocado [...]
Alibaba shares slide five per cent as earnings fall short of forecasts November 18, 2021 Alibaba shares tumbled five per cent after the company’s third quarter financials disappointed investors. In results released today, Chinese tech giant Alibaba revealed that revenue for the three months to October 2021 was $31.1bn (£23bn), up by 29 per cent compared to a year prior, but a far cry from analyst predictions of $32.1bn Net [...]
Markets spit out Metro Bank as private equity giant Carlyle walks away from takeover talks November 18, 2021 US private equity giant Carlyle has walked away from talks to buy British high street lender Metro Bank, prompting markets to spit out the lender. Its shares plummeted over 19 per cent today. However, they are still above where they were before Metro Bank announced it was being courted by Carlyle. However, that take did [...]
By far best-paid in Europe: CEOs in UK make 759 per cent more than their employees November 18, 2021 Chief executives in the UK are on average 759 per cent more than their employees, making the wage gap in Britain the biggest in all major economies. Business leaders in the UK also get paid more than anywhere else in the world, after the United States. On average, CEOs are paid £300,312, whereas the median [...]
TfL: Network planning for “managed decline” and return to 1970s without Whitehall funding November 18, 2021 LONDON’S transport network is headed for “managed decline” that will echo the 1970s if central government refuses to fill a growing funding black hole. Late on Wednesday evening, TfL’s finance committee published the bleakest assessment yet of the future of London’s public transport network, outlining an 18 per cent reduction in bus services and a [...]
Delta variant pushes Covid rates back to January levels with most Coronavirus infections among schoolchildren November 18, 2021 New data released this morning suggests that Coronavirus rates in England are similar to what they were in January this year, just after the peak of the second wave. During mid-October to early-November 2021, the prevalence was 1.57 per cent – the same as January – compared to 0.83 per cent in September. According to [...]
Paddy Power and Betfair owner Flutter snaps up bingo giant Tombola for £402m November 18, 2021 Paddy Power and Betfair owner Flutter Entertainment has agreed to buy UK bingo group Tombola for £402m. Tombola’s founder Phil Cronin, who set up the bingo firm 16 years ago, will leave the business after the acquisition, with himself and his family expected to net a fortune from the cash deal. Based across sites in [...]
Employers urged to stop asking jobseekers about their previous salary November 18, 2021 Employers are being urged to stop asking jobseekers about their previous salary amid concerns it is keeping women on lower wages and contributes to the gender pay gap. The Fawcett Society said asking about past salaries during recruitment was “pointless” because many people lied about what they previously earned. The campaign group warned that asking [...]
Brits’ median pay hikes remain at 2 per cent but wage freezes become a rarity November 18, 2021 Median pay rises have remained at 2 per cent in recent months, according to a new study. Pay analysts XpertHR said its research suggested that wage awards are at the same level as this time last year, confirming a period of stability. Wage freezes are becoming a rarity, according to the study of 33 recent [...]
Sterling at highest point against the Euro in 21 months November 17, 2021 The pound is at its highest rate against the euro for nearly two years after data revealed UK inflation is at its highest rate for a decade. Interest rates surged to 4.2 per cent in the year to October, more than double the central bank’s target of two percent and the highest level since December [...]