Asos swings to loss as fashion giant warns shoppers may cut back on purchases April 12, 2022 Online fashion giant Asos has said it was hammered by reduced stock availability as it posted a £15.8m pre-tax loss for the six months to the end of February. The company cited “industry-wide supply chain constraints impacting stock availability and ongoing Covid-19 restrictions.” In half year results on Tuesday, the retailer posted four per cent [...]
City Moves: Who’s switching jobs in the Square Mile? April 12, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Rathbone Greenbank Investments Rathbone Greenbank Investments has hired a former investment analyst into a new role in the firm’s London office. Joining as impact manager, Marian Woodward will be responsible for identifying further impact investment opportunities for [...]
From Calais, with love: CCTV funding rows capture our migration challenge April 12, 2022 In the first five weeks of war in Ukraine, more than four million people have fled their home, according to the United Nations. The bulk of these have gone to Poland, but many are trying to find permanent homes elsewhere in Europe. Before introducing the Homes for Ukraine scheme, the UK was scrambling to process [...]
Retail sales slow as consumer confidence now lower than horsemeat scandal April 12, 2022 Retail sales slowed last month as consumer confidence has taken a hit as shoppers feel the bite of rising cost inflation. According to data from the British Retail Consortium (BRC) and KPMG, sales increased by 3.1 per cent in March. This was worse than a three-month average growth of 6.9 per cent. What’s more, retail [...]
London firms sweat over looming inflation spike April 12, 2022 Accelerating inflation is dealing a severe blow to London businesses just as they are pushing to repair the damage inflicted on them by the Covid-19 crisis, reveals a fresh survey published today. Russia’s invasion of Ukraine has swelled businesses in the capital’s energy bills by sending oil and gas prices soaring. Over six in 10 [...]
Levelling up state administrators’ salaries won’t help us address economic inequality April 12, 2022 Last week, the Department of Levelling Up, Housing and Communities advertised for a new set of lucrative public sector jobs. As part of the “flagship” plans to ensure equal economic growth across the country, a team of 12 “levelling up directors” will receive a generous, tax-payer funded salary of up to £144,000. The job? To [...]
Macron and Le Pen rematch over France’s global voice: in the choir or a monologue April 12, 2022 As Emmanuel Macron and Marine Le Pen prepare to face off in the final round of France’s presidential election, most French voters (like voters anywhere) will probably be thinking more about their own economic situation than events in other countries. Russia’s invasion of Ukraine may still be in the headlines, but after a month it [...]
US financial inclusion fintech launches in the UK to open up immigrants’ access to credit April 12, 2022 US financial inclusion fintech Nova Credit has expanded into the UK today with plans to open up access to credit for immigrants across Europe.
Fake friends: Impersonation Instagram scams sky rocket by 155 per cent April 12, 2022 New data published this morning has revealed that Instagram has seen a 155 per cent spike in impersonation fraud in the past year as the scam wars continue to plague social media. According to research from Lloyds Bank, the uplift in tricksters can be contrasted with falling levels across Facebook and Snapchat, which were down [...]
UK’s audit watchdog set to reclaim control over licensing of major accountancy firms April 12, 2022 The UK’s audit watchdog is preparing to strengthen its powers to sanction Britain’s major accountancy firms. The Financial Reporting Council (FRC) is readying itself to take back control over the registration of the UK’s auditing firms, sources told the Financial Times. In doing so, the FRC would be given new powers to strip licenses from [...]
