End of an era: Majority of jobs axed as TV shopping channel Ideal World collapses July 6, 2023 TV shopping channel Ideal World has hired administrators and made the “majority” of its workforce redundant. The Peterborough-based company employed around 275 people at its head office but hired insolvency experts from advisory firm Kroll on Wednesday after it was hit by weaker consumer spending habits. Administrators said overall trading was “not strong enough” for [...]
Lavazza burned by surging coffee bean costs with earnings down double-digits July 6, 2023 Lavazza has warned over a double-digit drop in earnings this year amid surging coffee bean costs and said its prices are not set to come down for consumers until 2024. The Italian coffee giant said it is braced for a hefty drop in underlying earnings over 2023 as it looks to limit price hikes. It [...]
Cabinet Office MUST hand over Boris Johnson messages by Monday after court loss July 6, 2023 The Cabinet Office will have to hand over Boris Johnson’s unredacted WhatsApp messages, notebooks and diaries by Monday afternoon after it lost a High Court challenge against the chairwoman of the UK Covid-19 Inquiry. The department brought legal action over Baroness Heather Hallett’s order to release the documents, arguing it should not have to hand [...]
Legal talent war rages on as Baker McKenzie ups newly-qualified salaries to £118k July 6, 2023 Global law firm Baker McKenzie will increase the salary it gives to newly-qualified (NQ) London solicitors to a cool £118,000. The Chicago-based firm said effective as of 1 July, newly-minted lawyers will get a bump up from £110,000 a year. Last July, Baker McKenzie upped pay for NQs by £5,000. While many industries have been [...]
Coffey: Government has full confidence in water industry’s financial resilience July 6, 2023 Therese Coffey says she has “full confidence in the financial resilience” of the water industry, amid warnings Thames Water’s struggles are “not an isolated case”.
Bank of England governor Andrew Bailey slams firms for participating in ‘greedflation’ July 6, 2023 Businesses charging unfair prices for products must be “tackled” to help bring down inflation, the Governor of the Bank of England has claimed. Andrew Bailey, speaking to the BBC’s Newsround programme, said there is evidence that some retailers are “charging too much” for petrol. His comments come after the UK’s competition watchdog, the Competition and [...]
Explainer: Small house builders face existential hurdles July 6, 2023 As mortgages and rents rocket up, the housing industry hardly needed another blow. But small firms in the sector have warned they risk going bust without an intervention. In a letter to the prime minister this week, more than 200 small to medium-sized companies lamented that changes in the planning systems are blocking new developments [...]
Wimbledon primary school crash: Girl killed, woman arrested, many injured – Met July 6, 2023 A girl has been killed as a car crashed into a girls’ prep school building. The Metropolitan Police said a woman in her 40s has been arrested on suspicion of causing death by dangerous driving after the incident at The Study Preparatory School in Camp Road, Wimbledon, south-west London, on Thursday. In a statement, the [...]
We are not rip-off retailers, says Sainsbury’s July 6, 2023 Bosses at Sainsbury’s have said they are “not rip-off retailer” or “profiteers” as they defended the profit made by the retailer amid scrutiny related to food inflation over the past year. The company also defended increased pay packages for its senior executives at its annual general meeting in London, despite the continued cost-of-living crisis. It [...]
‘Job one – take on Vanguard’: Abrdn targets DIY investor dominance with new growth push July 6, 2023 Asset manager Abrdn said it is looking to take on US investment giant Vanguard today as it kicks off a growth drive in its personal wealth division.
