Slack chief says offices should be social spaces where people ‘actually enjoy themselves’ October 14, 2022 The chief executive of messaging platform Slack has said offices should be social spaces where people “come together and actually enjoy themselves” rather than a place where people take video calls. Speaking with the BBC, Slack boss Stewart Butterfield said office time was particularly important for young people starting their career. “It’s hard to imagine [...]
UK borrowing costs tank as mini budget U-turn rumours gather pace October 14, 2022 UK borrowing costs fell sharply today driven by chancellor Kwasi Kwarteng and prime minister Liz Truss reportedly set to U-turn on more parts of their mini budget. The chancellor has today cut short his trip to the International Monetary Fund’s Washington meetings to hold emergency talks with Truss in London. Rumours of a second U-turn [...]
Explainer-in-brief: Liz Truss’ u-turns will make us all dizzy October 14, 2022 Boris Johnson was often ridiculed for his frequent u-turns on policies, but his successor has been happy to take up the mantle. After the fierce backlash following the not-so-mini-budget, the government decided to scrap plans to ditch the 45p tax rate at the beginning of October. The Chancellor then said he was bringing forward to [...]
Chipmaker Pragmatic takes a slice of £150m industry cashpot to go green October 14, 2022 British chipmaker Pragmatic has been injected with £2.4m to make its semiconductor manufacturing process greener. The production of semiconductors, microchips used in most of today’s electronics, is highly resource intensive and uses a significant amount of energy and water. “While many semiconductor companies are taking positive steps to mitigate this, for example with a transition [...]
Loungers says it continues to ‘outperform’ the sector as sales climb October 14, 2022 Bar operator Loungers said it continues to “significantly outperform the market” as sales surge for the owner of Lounge and Cosy Club. The firm posted like for like sales growth of 17 per cent growth compared to 2019 levels for the 24 weeks ended 2 October. Since the start of the financial year, Loungers has [...]
Sadiq Khan announces return of in-person New Year’s Eve fireworks display to capital October 14, 2022 Up to 100,000 people will return to the banks of the Thames for London’s spectacular New Year’s Eve celebrations after two years of Covid cancellation. Ticketholders will be able to watch the fireworks display in the centre of London for the first time since 2019, Mayor Sadiq Khan has announced. Coronavirus restrictions prevented the display [...]
Revolution Beauty CEO and executive chair ‘step away’ as investigation into accounts continues October 14, 2022 Revolution Beauty CEO and executive chairman have agreed to voluntarily “step away” from day-to-day management of the company as the investigation surrounding accounts continues. The beauty giant did not indicate when Tom Allsworth (Executive Chairman) and Adam Minto (CEO) would return to their duties, but said the move was aimed at allowing them to support [...]
Royal Mail to cut 6,000 jobs by March as losses balloon October 14, 2022 As many as 6,000 Royal Mail staff could lose their job by next summer as the firm tries to counter losses driven by strike action and stunted growth plans. The firm said that it expects its full year adjusted operating loss to tumble to £350m, including the direct, immediate impact of eight days of industrial [...]
Kwarteng returns from US early for crisis talks with Truss amid speculation of U-turn and a Tory coup October 14, 2022 Kwasi Kwarteng is to cut short his visit to the United States, to hold crunch talks with the Prime Minister before an expected mini-budget U-turn. The embattled finance chief left the International Monetary Fund gathering and headed home overnight, following a fiery briefing with journalists. This comes as The Times reported that a group of [...]
City bonuses rise at more than twice the rate of wages since 2008, study says October 14, 2022 The City has proved its resilience to challenging economic headwinds, with bonuses increasing at more than twice the speed of wages since the financial crash. The rapid growth in bonuses reflects the continued activity in the Square Mile and the lack of real-terms growth in people’s salaries. While most workers’ salaries had effectively plateaued, TUC [...]
