B&M quarterly sales dip after retailer warns shoppers could cut back amid high inflation June 29, 2022 Discount retailer B&M has seen sales plummet in its first quarter, against strong lockdown comparatives, as cash-strapped Brits cut back on discretionary spending. In a trading update for the 13 weeks from 27 March to 25 June, the London-listed business said group revenue had dropped 2.2 per cent on a constant currency basis. Across the [...]
Stagecoach returns to growth as bus journeys bounce back to 81 per cent of pre-Covid levels June 29, 2022 Britain’s biggest bus company Stagecoach today said it now in a “good financial position” after “recovering customer demand” saw passenger journeys bounce back to 81 per cent of pre-pandemic levels. The public transport operator said it had “firmly returned to growth” after its profits more than doubled year on year, from £17m in the financial [...]
Covid restrictions in China take dent to Mulberry shop and online sales June 29, 2022 Mulberry has said Covid restrictions in China have resulted in a one per cent dip in sales across its retail and digital channels so far this financial year. Stringent pandemic measures in mainland China meant the designer handbag maker was forced to temporarily shutter the majority of its stores, as well as its Shanghai distribution [...]
Capita posts ‘strong’ first half results as BBC TV licensing contract boosts outsourcer’s revenues June 29, 2022 Capita today posted “strong” results for the first half of 2022, after a series of “significant” government contracts boosted its H1 revenues. The outsourcing company said trading in the first half of 2022 sat in line with expectations, as it said its revenues were bolstered by the renewal of a £456m contract to run the [...]
Moonpig sales fall after lockdowns but card biz remains confident in gift market June 29, 2022 Moonpig has posted plummeting sales as shoppers started buying gifts and greetings cards elsewhere once bricks-and-mortar shops reopened once more over the past year. In full year results to 30 April 2022, the firm admitted its group revenue had tumbled 17.3 per cent year-on-year, standing at £304.3m versus £368.2m in 2021. The online retailer pointed [...]
Two parties, devoid of the hopeful political vision for the future we need June 29, 2022 One of the most repeated criticisms of our political landscape is the absence of any long term political vision. Survival over reflection, short term over long term, disparate issues over coherent vision. Our politics needs a radical refresh to shift away from chronic short termism and mediocrity to something much more compelling. We’ve all been [...]
Fresh research says 5G failings could cost UK economy £7bn June 29, 2022 Failing to make the UK an attractive place for investment in future 5G technology could cost the economy up to £7bn per year, with towns and smaller cities the ones to miss out most, according to new research.
Central banks have fooled themselves into thinking they have power over inflation June 29, 2022 If we look under the bonnet of central banks, we find a debate which is almost theological in its nature.
Conservative ideology is in turmoil as they cling to online speech crackdowns June 29, 2022 A little known internet safety green paper was the genesis of the Online Safety Bill. It was initiated by the Cameron government and published five years ago, with a focus on a voluntary code of practice and transparency requirements for social media. This would have been a relatively incremental step, a collaborative approach to addressing [...]
Stripe and LinkedIn founders back $158m entrepreneur fund June 29, 2022 The founders of LinkedIn and payments giant Stripe are among a group of heavyweight tech entrepreneurs to back a $158m funding round for scale-up investor Entrepreneur First, the firm revealed today.
