Ovo exits parent firm in founder Stephen Fitzpatrick’s latest reshuffle July 31, 2023 Big Six energy supplier Ovo has cut ties with its long-standing parent company Imagination Industries, according to its latest results.
Retailers in trouble as 51 per cent of punters cut back on clothes shopping July 31, 2023 Retail and hospitality industries continue to be bruised by the UK’s cost of living crisis as 59 per cent of people have cut their spending on eating out and a further 51 per cent have cut spending on clothing. As Brits continue to watch their pennies amid high inflation, figures from Oxera show that in [...]
British businesses locked in disputes with HMRC over possible unpaid tax July 31, 2023 More than half of British mid-sized firms are locked in disputes with the taxman over potential unpaid tax, a sign of the troubles companies encounter when trying to navigate the UK’s complex web of levies. Some 61 per cent of 500 firms surveyed by consultancy BDO are embroiled in a tax dispute with HMRC. Tax [...]
Gen Z and millennials shrug off inflation woes to buy ethical goods July 31, 2023 Gen Z and millennial shoppers are shrugging off inflationary woes and continuing to prioritise a retailer’s reputation when choosing where to spend. Some 33 per cent of 18-34-year-olds said they are more loyal to brands with a ‘positive corporate reputation’ and ‘values’ that align with their own, compared to just one in seven shoppers aged [...]
Argos ‘well positioned’ to face Amazon challenge amid transformation, says boss July 31, 2023 Argos is “well positioned” to face up to the challenge of Amazon and other online retail giants, according to bosses at parent firm Sainsbury’s. Paula Nickolds, the boss of the grocery giant’s general merchandise business including Argos, said the retail brand has maintained its “strong emotional bond with customers” despite changes to its operations amid shifting consumer habits. It comes as the high street stalwart marks 50 years since it was founded by Richard Thompson [...]
Crying misogyny over Alison Rose’s downfall won’t do Labour any favours July 31, 2023 Rachel Reeves made a mistake in attributing Alison Rose's fate to misogyny. The government had a right to get involved in the Coutts saga, but Reeves was out of tune in her intervention, writes Eliot Wilson
The Notebook: Andy Silvester on suppressed British success stories, why Global Airlines could raise the game and Bazball July 31, 2023 Where the City’s movers and shakers get a few things off their chest. Today, City A.M. editor Andy Silvester takes the pen British cynicism can mean we overlook our success stories Heading east out of the City towards the Strand one passes the ugly, brutalist facade of King’s College London, nobody’s idea of an architectural [...]
Contrary to group think, businesses have a right to choose clients July 31, 2023 As Shakespeare would have surely written were he alive today, what a tangled web we weave, when we first practice to debank a former UKIP leader. The fallout from Nigel Farage’s highly publicised spat with Coutts and, in turn, Natwest, will continue for some time yet, but the details of the saga are less interesting [...]
Northern Triangle tech start ups should be prime targets for Square Mile investors July 31, 2023 British firms are having to turn to global sources of funding, when there’s capital here in the City we could direct towards homegrown start ups, writes Nicholas Lyons. THE recent report by the Treasury Select Committee on the UK’s Venture Capital industry should ring alarm bells for the City. The Committee found that for many [...]
EP: 217 Glorious Goodwood – Tuesday July 30, 2023 The Goodwood Cup is the feature race on the first day of Glorious Goodwood. On today’s podcast, trainer Aidan O’Brien discusses the chances of his filly Emily Dickinson in this Group 1 event. The Group 2 Lennox Stakes and Vintage Stakes are also top-class races to look forward to on Tuesday’s card. City AM Racing [...]
