Ofgem boss: Hike in household energy bills ‘almost inevitable’ March 8, 2022 Ofgem boss Jonathan Brearley has warned a further painful hike in household energy bills is “almost inevitable."
Greggs full-year sales surpass pre-Covid levels as analysts caution price rises March 8, 2022 Greggs full-year sales have surpassed pre-pandemic levels, as the bakery chain restarts its colleague profit-sharing scheme, which will see £16.6m shared with staff. Total sales rose 5.3 per cent to £1.2bn, in comparison with 2019’s figure of £1.1bn, preliminary results for the year to 1 January revealed this morning. It comes as the bakery chain rewards [...]
Taiwan trade moving away from China may bring ‘untapped opportunities’, say analysts March 8, 2022 ING is monitoring whether Taiwan trade is moving away from China, as exports to the mainland have fallen slightly so far this year. “With political tension between mainland China and Taiwan escalating, there are signs that Taiwan exports are gradually moving away from mainland China,” chief economist for Greater China at ING, Iris Pang said today, explaining that exports to the US have increased in the period. Exports and [...]
US ramps up sanctions with plans to ban Russian oil imports March 8, 2022 The US is expected to impose ban on Russian oil imports as it ramps up sanctions following the country's invasion of Ukraine.
UK accountancy watchdog fines KPMG £1.25m over audit of bar chain Revolution March 8, 2022 Britain’s accountancy watchdog today fined KPMG £1.25m over its audit of bar chain company Revolution. The UK’s Financial Reporting Council (FRC) fined Big Four accountancy giant KPMG £1.25m and former-KPMG director Michael Neil Frankish £50,000, over failures in the audit of Revolution Bars Group’s accounts for the financial year 2015/16. The fines come after FRC [...]
Michael Kors CEO exits after six months at fashion giant March 8, 2022 The chief executive of Michael Kors is set to step down after just six months in the role. Joshua Schulman was anticipated to succeed John Idol as chief executive of the fashion brand’s parent company Capri Holdings next autumn. A reason was not provided for the exit but Capri Holdings have said Idol will stay [...]
HMRC owes construction workers close to £1.5bn following pandemic property boom March 8, 2022 Almost £1.5bn is owed to Britain’s construction workers by the taxman following the pandemic property boom, according to new data shared with City A.M. today. It is estimated that more than 1m people working in the sector could be owed a tax refund, after the industry “weathered a particularly fierce storm” to keep Britain building [...]
IWG bets on hybrid work in £270m investment as it trims down losses March 8, 2022 IWG has merged with a digital assets group to create a new workspace platform in a £270m investment, after it more than halved its operating losses last year. The Instant Group, which provides digital marketing and workspace solutions to nearly half of FTSE 100 firms, will invest a further £50m into the company, IWG announced [...]
Gold surges again as Goldman predicts price will top $2500 this year March 8, 2022 Gold has surged again to trade above $2000 throughout today, with analysts now predicting a sustained rise amid turbulence in global equity markets.
Amazon accused of using suppliers tied to Chinese forced labour camps March 8, 2022 Amazon is under fire for its supply chain after a new report revealed that the e-commerce giant continues to use suppliers that are tied to forced labour camps in China's Xinjiang region.
