Explainer-in-brief: Behind the pensions triple-lock promise June 23, 2022 The pensions triple-lock was introduced in 2010, to ensure payments rise each year keeping up with the cost of living. It works in a simple way: state pensions rise in line with whichever is the highest between average earnings growth, inflation or a flat 2.5 per cent rise. Last year the government suspended it, mainly [...]
FCA cracks down on fraud by using latest analytics to scan 100,000 websites a day June 23, 2022 The UK’s financial watchdog is harnessing state-of-the-art analytics to scan 100,000 websites a day in a crackdown on scams and fraud. While the Financial Conduct Authority (FCA) cannot remove fraudulent sites, it has added almost 2,000 possible scams to its consumer warning list since May 2021. This represents a third more than during the same time [...]
Payments firm SumUp hits €8bn valuation after fresh funding round June 23, 2022 London payments firm SumUp revealed it had bagged a $590m funding injection today as it looks to fuel a growth push and rollout new products this year.
MoneySavingExpert guru Martin Lewis turned down ‘again’ by House of Lords June 23, 2022 MoneySavingExpert founder Martin Lewis revealed he was turned down from getting a peerage multiple times. The journalist said he had been rejected by the House of Lords appointment commission “again”, because he’d been “honest” about how often he could attend. Speaking to the BBC’s Nick Robinson, Lewis said he had always had political ambitions and [...]
Boohoo poaches Trainline CFO weeks after retailer saw first-ever sales drop June 23, 2022 Boohoo has poached Trainline’s former finance lead as its new chief financial officer (CFO), just weeks after the retailer posted its first-ever sales drop. It comes amid a turbulent period for fast fashion brands. Rival retailer Missguided collapsed in late May, after being hammered by spiralling supply chain costs. Shaun McCabe, who has sat on [...]
Govt will try to change ‘burdensome’ law so agency staff can cover for striking workers June 23, 2022 The government will try to change the law to allow agency staff to cover for striking workers. Grant Shapps and Kwasi Kwarteng, the transport and business secretaries, made the announcement on Thursday as the UK is crippled by a second day of industrial action. Under current trade union laws, firms cannot supply temporary workers to [...]
Downing raises over £50m to boost investment plans June 23, 2022 Investment group Downing has announced it has raised over £50m for its renewables trust from its funding round earlier this month.
Klarna boss slams Barclays for ‘mind boggling’ and ‘irresponsible’ BNPL research June 23, 2022 Klarna’s UK boss has hit out at Barclays today for publishing what he called “mind-boggling” and “irresponsible” research exploring mounting buy-now pay-later debt levels in the UK. Barclays Partner Finance – a division of the bank which offers its own regulated buy-now pay-later-style financing product – issued research today alongside debt charity StepChange warning that [...]
Fully charged: Volex revels in rising revenues powered by flurry of acquisitions June 23, 2022 Volex has enjoyed a huge boost in revenues this year - driven by a raft of acquisitions from the power and connectivity specialists.
Gambling giant 888 predicts drop in half year revenues as restrictions bite June 23, 2022 British gambling giant 888 said today it expected revenues for the half year to dip as it feels the impact of stricter gambling measures and a temporary withdrawal from the Netherlands.
