Workers’ real pay erodes at historic pace despite huge wage rises November 15, 2022 Workers’ pay is still being eroded at a historic pace by rampant inflation despite employers hiking wages by one of the greatest amounts since records began, official figures revealed today. When taking off the Office for National Statistics’ (ONS) preferred measure of inflation, pay excluding bonuses dropped 2.7 per cent over the last three months, [...]
Fraudsters make off with £4.2m amid NFT boom November 14, 2022 Fraudsters have exploited the rapid rise of Non-Fungible Token (NFT) in the UK and have scammed investors out of more than £4.2m in the past 12 months, according to new research released today.
Value of UK business tax breaks hits record £105bn in past year alone November 14, 2022 The value of business tax reliefs in the UK hit £105.3bn in the past year, up from £100.3bn in 2020-21, shows new research shared with City A.M. this morning. The £105.3bn figure represents the combined cost estimated by HMRC for the 58 significant tax reliefs available to corporates. However, these represent just a fraction of [...]
Computer says no: Frustrated businesses screaming for fresh cash struggle to get bank loans November 14, 2022 Three-fifths of small and medium-sized enterprises (SMEs) said that they currently need funding to ease day-to-day cashflow issues, according to research by asset manager Channel Capital out this morning. However, those businesses increasingly struggling to get loans from high-street banks, the survey found. And more than two thirds of SMEs reported that they need funding [...]
Joules calls in administrators as rescue talks collapse November 14, 2022 Fashion and lifestyle firm Joules announced it had called in administrators and suspended trading on the London Stock Exchange this morning after emergency rescue attempts failed last week.
Euromoney clears regulatory hurdles for £1.6bn takeover November 14, 2022 Financial publishing firm Euromoney Institutional Investor said on Friday it had cleared the regulatory and antitrust hurdles needed to complete its £1.6bn takeover by Becketts Bidco.
KFC eyes disadvantaged young people as fast-food giant ramps up recruitment efforts November 14, 2022 KFC has pledged that a third of all its new staff by 2030 will be young people who have faced barriers to employment. The chain’s boss said it wants to help improve social mobility by giving disadvantaged young people more opportunities to work, build skills and confidence, and become managers. Through its Hatch employability programme, [...]
Not a good Monday for home sellers as UK house prices dive by £4k+ in just one month November 14, 2022 The average price tag on a home fell by more than £4,000 in November compared with the previous month, according to new industry figures released this morning. Across Britain, the average price of a newly marketed home in November is £366,999, Rightmove said. The £4,159 drop in the average asking price compared with October equates [...]
Government goes head to head with Britain’s nurses: ‘Simply not affordable’ November 11, 2022 Prime Minister Rishi Sunak has dismissed pay demands from unions representing nurses across Britain, calling them “simply not affordable.” His remark comes as the threat of strike action that will hit operations and appointments looms. Sunak said he shared the public’s “respect and gratitude” for nurses, and that he was pleased the Health Secretary was [...]
Exclusive: Expedia doubles down on London as it hunts for 120 new tech brains in the capital November 10, 2022 Travel tech firm Expedia Group is planning to expand its UK operations by recruiting candidates for around 120 predominantly tech-focused roles at its London base as the travel industry rebound continues, City A.M. can reveal. London is one of the group’s tech hubs outside the US, with close to half of all employees in the [...]
