UK businesses’ research and development investments climb to record £47bn October 4, 2021 The amount spent by UK businesses on research and development has jumped 15 per cent to £47bn last year, a record high and up from £41bn the year before, according to new data shared with City A.M. this morning. says UHY Hacker Young, the national accountancy group. The figures show that UK businesses also claimed [...]
Cake Box to open 20 new stores as Uber Eats and Deliveroo orders double sales October 4, 2021 Cake Box said this morning that its sales nearly almost doubled for the past six months amid a strong recovery in customer demand. The high street cream cake retailer said it was buoyed by its continued expansion, opening 20 new franchise sites over the six months to September, to bring it to a total of [...]
Shortages saga: A third of UK mid-size firms forced to slim down offerings October 4, 2021 With the UK’s supply chains riddled with labour shortages and continued Covid-19-related hang-ups, a third of mid-size firms have been forced to reduce their offering. More than 34 per cent of businesses already trimmed their product lines and services by mid-September – before the fuel crisis had gripped the nation, according to accountancy firm BDO. [...]
UK travel rules are changing from today as traffic light system is scrapped October 4, 2021 Travel rules are changing significantly today, with the UK’s traffic light system involving green, amber and red lists being scrapped, with locations categorised as either on the red list or not. It comes amid reports the number of countries on the red list will be slashed to nine from 54 later in the week, with [...]
Hospitality staff shortages: One in six jobs currently vacant October 4, 2021 One in six hospitality jobs are currently vacant while the government doubles down on not relaxing immigration rules to ease labour shortages. The Prime Minister said on Sunday that he would not “pull the lever” of more immigration in the short-term to stop lorry driver shortages while ministers have ruled out extra visas for restaurants. [...]
Supermarkets bleed sales thanks to food shortages October 3, 2021 The country’s largest supermarkets have lost out on more than £2bn sales this year so far thanks to food shortages. Leading retailers – Tesco, Sainsbury’s, Asda and Morrisons – lost out on sales during the first nine months of the year, according to data shared with trade magazine The Grocer. The sector has been hit [...]
Tesco gears up to announce interim results amid sector’s driver chaos October 3, 2021 Supermarket behemoth Tesco is expected to reveal a big share buyback programme this week, alongside setting out plans to overcome supply chain disruption. Tesco’s buyback scheme will run in parallel to its normal dividend, The Sunday Times reported, with no expected plans for a special dividend. The grocer will post its interim results on Wednesday, [...]
No more Botox and lip fillers for under 18s in England from today October 1, 2021 As a new law comes into force in England today, people under 18 years of age will no longer be able to get Botox and dermal lip fillers for cosmetic reasons. The Botulinum Toxin and Cosmetic Fillers (Children) Act, which was brought into force in England on Friday, means it will be illegal to administer [...]
Sainsbury’s looking to hire 22,000 people in supermarket’s biggest-ever recruitment drive October 1, 2021 Sainsbury’s is creating 22,000 seasonal jobs to help it meet higher demand around Christmas. The retail group, which also owns Argos, said it will be hiring store staff, delivery drivers and logistics workers as part of its “biggest ever recruitment drive”. Roles will be available across the UK from Friday, four weeks earlier than last [...]
Hospitality sector urges Chancellor to freeze VAT at current rate to aid recovery October 1, 2021 Hospitality bosses have called on the Treasury to introduce a permanent lower rate of VAT to aid pubs and restaurants’ Covid recovery. The tax on pubs and restaurants rose from 5 per cent to 12.5 per cent today, following the temporary reduction introduced during the coronavirus pandemic. The Treasury’s goal is to return the tax [...]