Murdoch executives ‘told Sunak not to resign’ after partygate fine September 16, 2023 Rishi Sunak was persuaded not to quit as chancellor over his fine for breaking lockdown laws after an intervention by media mogul Rupert Murdoch’s executives, it has been claimed. The claim is detailed in a new book by the Telegraph’s political editor and published by the newspaper on Friday. It is the latest report to [...]
UK will not follow Biden’s ‘subsidy bowl’ economic policy, Chancellor says September 16, 2023 The government’s £500m intervention into Britain’s biggest steelworks is not a sign that ministers are set to follow Joe Biden’s “subsidy bowl” economic policy, the Chancellor has said. Jeremy Hunt insisted that the financial backing for Tata, the Indian conglomerate owner of the Port Talbot steelworks in South Wales, came after “very credible commitments” were [...]
Transport for London renames Bond Street ‘Burberry Street’ – and the internet is not impressed September 15, 2023 Oh dear! A quirky move by TFL to rename Bond Street as Burberry Street in celebration of London Fashion Week, has not gone down well on the internet.. The West-End tube stop which is home to a number of high end stores will now be transformed into Burberry Street for one week while top models [...]
H&M’s summer sales flatline after rival Zara owner cheers boost September 15, 2023 Fashion chain H&M has revealed its sales flatlined in the latest quarter after its biggest rival Zara owner Inditex cheered a stronger performance. The Swedish retail giant said its net sales, in local currencies, were flattish over June to September, compared to the same period last year. The weaker-than-expected quarterly update suggests that the chain [...]
British high street is not dead, minister insists after Wilko collapse September 14, 2023 The British high street is not dead but merely changing, ministers have insisted, after Labour accused the government of “giving up” on retail following the collapse of Wilko. Business minister Kevin Hollinrake insisted high street shopping is “reshaping itself”, as homeware shop the Range confirmed it will buy Wilko’s brand, website and intellectual property after [...]
US inflation accelerates at fastest pace in over a year on surging gas prices September 13, 2023 The consumer price index increased by 0.6 per cent last month, the largest gain since June 2022, the Labor Department said on Wednesday. The CPI had risen 0.2 per cent for two straight months.
DX delivery group gets £293m bid from US private equity firm HIG September 11, 2023 Delivery company DX Group said on Monday that it has been courted with an approximately £293m offer from a US private equity giant.
Kroo kicks off £70m fundraise as it targets profitability September 11, 2023 Digital bank Kroo is looking to raise a fresh round of cash from investors as it targets a swing to profit in the coming months, the firm announced today.
A case for cutting business rates? Just look at our high streets September 11, 2023 The UK's declining high streets tell us all we need to know about the success of our punitive tax regime.
The Notebook: Charles Tyrwhitt boss on how the ‘tourist tax’ is hurting London September 11, 2023 Where the City’s movers and shakers get a few things off their chest. Today, it’s Nicholas Wheeler, founder of tailored shirts specialist Charles Tyrwhitt.