Brits could miss out on £28k in retirement funds as workers opt out of pension schemes to save cash August 16, 2022 Brits could miss out on almost £30,000 in retirement funds after a near 30 per cent spike in workers opting out of pension schemes. With inflation nearing double digits and the UK in recession, new figures released by pension provider Penfold showed those pausing contributions could cost new entrants into the workforce up to £28,000. [...]
Labour calls for sharp rise in digital services tax to ease energy costs facing businesses August 15, 2022 Labour has called for a hike the digital services tax to fund a £1bn support scheme for struggling businesses.
Reebok owner closes in on Ted Baker deal August 15, 2022 Ted Baker is on the verge of being taken over by a US consumer goods group which owns Reebok, according to Sky News.
Labour pushes for price cap freeze to tame cost of living crisis August 15, 2022 Labour has waded into the energy crisis with £29bn proposals to ease household energy bills amid a deepening cost of living crisis.
Campaign to save iconic M&S Oxford Street building gets backing from authors and architects August 15, 2022 Efforts to save the iconic Marks & Spencer building on Oxford Street were reignited this week, with a number of high profile authors and architects getting behind a crowdfunding scheme to stop the demolition. Author of Notes from a Small Island Bill Bryson and award-winning architect Steve Hopkins slammed plans for the site’s demolition, backing [...]
Loeb unveils fresh Disney stake and pushes for ESPN spin-off August 15, 2022 Daniel Loeb’s activist hedge fund Third Point revealed a new position in Disney today and began agitating for a raft of changes, including spinning off cable sports channel ESPN and announcing new share buybacks. The stake marks a reversal by billionaire Loeb who liquidated a previous position in Disney during the first quarter. “Our confidence [...]
B&Q owner Kingfisher downgraded to ‘sell’ by UBS August 15, 2022 B&Q owner Kingfisher has been downgraded to ‘sell’ by UBS after the bank predicted the international home-improvement company will be hit by a slump in consumer spending and lose market share in the UK. The Swiss lender said that spending was slowing compared with the high demand the sector experienced during the pandemic. The bank [...]
Cartier owner Richemont calls for shareholders to block LVMH rival from joining board August 15, 2022 Cartier owner Richemont called for shareholders to snub the appointment of former LVMH executive Francesco Trapani to the board this morning, calling out his close connections to firm’s biggest rival. Calling him an “inappropriate” candidate, Richemont chairman Johann Rupert said in a letter to shareholders: “He is not independent, as he has a long history [...]
Kenya descends into political chaos as ‘Hustler’ William Ruto is named new president but electoral committee falls apart August 15, 2022 Kenya’s electoral committee has just said William Ruto has won the country’s 2022 presidential election, which took place last Tuesday. The announcement comes minutes after fighting broke out at Bomas of Kenya, where the election results were announced. Despite four electoral committee members walking out and ‘disowning’ the result, the IEBC went ahead and said [...]
Bulk annuity transactions set to hit record levels in 2022 August 15, 2022 The UK market for bulk annuity transactions is on track to hit record levels this year, pensions experts have said. The value of all UK bulk purchase annuities deals is already up by 50 per cent compared to last year, and could hit historic levels by the end of the year. The increase in [...]