Sales at Elon Musk’s Tesla in reverse after record high October 11, 2024 UK sales at Tesla, the luxury car maker run by Elon Musk, have reversed from their previous record high, it has been revealed. The Manchester-headquartered division has reported a revenue of £2.47bn for 2023, down from the £2.83bn it achieved in 2022. Newly-filed accounts with Companies House also decreased from £42m to £32m over the [...]
Gucci: Profit halved as ‘high competition’ eats into sales October 11, 2024 Profit at the UK arm of luxury fashion brand Gucci has cut almost in half during its latest financial year after “high competition” impacted its sales. The West Sussex-headquartered division has reported a pre-tax profit of £4.8m for 2023, down from the £9m it achieved in 2022. Newly-filed accounts with Companies House also show its [...]
‘The biggest barrier to growth’: Businesses set out plan to fix productivity puzzle October 11, 2024 Some of the UK’s most high-profile businesses have set out a roadmap to improve productivity growth, including reforms which could boost the economy by £82bn over the next five years. The Building Back Britain Commission, which included representatives from Vodafone, PIC and British Land, looked at productivity across the entire country, finding five key areas [...]
Workers’ rights bill is ‘most extensive reform to trade union rights since Thatcher’ October 11, 2024 There are 'extensive' reforms planned for Trade Unions in the new Employment Rights Bill, which includes giving unions 'greater freedom to organise'
Brewdog founder James Watt on Britain’s ‘existential’ debt crisis October 11, 2024 Founder of beer chain Brewdog has warned Britain’s political system faces an “existential crisis”, and has offered a solution to get on top of it. James Watt took to LinkedIn to vent his frustration at the levels of debt being serviced in the UK economy at the moment, which makes it “impossible for us to [...]
London Heathrow Airport: Record run continues as September traffic booms October 11, 2024 Heathrow's bullish performance comes as the West-London hub mulls whether to pursue its long-delayed expansion plans.
The Beatles’ finances getting back to where they once belonged October 11, 2024 The finances of the company that looks after the commercial interests of The Beatles have continued to fall back following a spike in 2021 when the Get Back documentary was released. Apple Corps, which was originally founded by the band in 1968, is now owned by Sir Paul McCartney, Ringo Star, Yoko Ono and the [...]
THG raises over £95m to aid Ingenuity demerger October 11, 2024 THG has raised more than £95m to help fund its planned demerger of its Ingenuity division. The Manchester-headquartered group, which includes City AM, confirmed on Thursday, 10 October, that it would press ahead with the demerger and revealed plans for a £75m fundraise led by boss Matthew Moulding. The London-listed firm said the demerger of [...]
Accounting firm RSM US in talks for merger with UK arm October 11, 2024 RSM US is reported to be in talks to acquire its UK arm, if green light, would be the first major transatlantic combination in the accountancy sector
Qinetiq inks deal with Ministry of Defence for military communications October 11, 2024 Security and defence contractors Qinetiq have won a three-year contract with the Ministry of Defence worth around £150m to deliver military communications. The initial contract, with UK’s Ministry of Defence’s (MoD) Defence Digital organisation, is worth £39m, but includes options for extensions for up to two further years. The Farnborough-based firm, which in May hiked its [...]