Business confidence drops after tax hikes, says FSB report October 25, 2021 Forthcoming hikes to national insurance have dented business confidence ahead of the Budget, according to the latest quarterly report from the Federation of Small Businesses (FSB). The group’s small business index (SBI) has decreased from 18.6 points in Q2 2021 to 16.4 in Q3 2021. FSB surveyed 1,383 small businesses in late September and the [...]
Las Iguanas owner plots 50 new restaurant openings October 25, 2021 The operator behind Las Iguanas, Bella Italia and Café Rouge is to open 50 new restaurants as part of an investment topping £50m. As well as new venues, the Big Table Group said it planned to refurbish 70 sites over the next three years. Its growth plans will create 1,250 new jobs. Some £35m will [...]
Insulate Britain restarts sit-downs on London’s roads for beginning of half term October 25, 2021 Insulate Britain are pinned to the roads once again, in time for the start of the week-long half-term today, following a brief hiatus. The controversial environmental group, which seeks to properly insulate the UK’s homes in a bid to reduce CO2 emissions, began their sit-down at rush hour this morning, targeting roads in central London. [...]
Savile Row’s Gieves & Hawkes faces being wound-up October 25, 2021 Savile Row tailor Gieves & Hawkes is facing the threat of closure due to its parent company’s financial problems. Without a new backer, the 250-year old firm and its sister firm Kent & Curwen could be wound up, according to The Times. The tailor’s Chinese owner Trinity Limited is controlled by the Shandong Ruyi Technology [...]
Sunderland gigafactory to undergo massive expansion amid rise in EV demand October 25, 2021 The UK’s Sunderland gigafactory is set to be expanded as the Chinese firm behind the plant looks to bolster its electric vehicle battery division. The move will see capacity swell sixfold, as it increases from the 1.7-gigawatt hours (GHh) to 11GWh, when the site is expected to be opened. Though the boss of the Chinese [...]
Shipping kingpin urges government to ramp up investment to tackle logistics crisis October 25, 2021 The chief of one of the world’s shipping kingpins has urged governments to urgently tackle the global shipping crisis. Jeremy Nixon, chief executive of Ocean Network Express, which oversee more than six per cent of the world’s freight, called on governments to ramp up investment to expand port capacity and improve railways and warehousing systems. [...]
Co-op bank confirms TSB approach October 25, 2021 The Co-op bank has today confirmed it approached Spanish lender Banco de Sabadell over buying fellow bank TSB. The bank said that it sent a letter to Banco de Sabadell but that no discussions are currently taking place between the two banks. More to follow.
Higher coal and cobalt prices drive Anglo Pacific’s results upwards October 25, 2021 Anglo Pacific Group (APG), a leading natural resources investment company, today published encouraging third quarter results after it saw its highest-ever portfolio income contribution of $23.6m. Its record portfolio income results were 180 per cent high than the same period last year, and a fraction ahead of the firm’s interim results of $23.04m. APG’s results [...]
Weaker new customer inflows crimps Plus500 profits October 25, 2021 A reduction in new customer inflows crimped Plus500’s third quarter profits. The trading platform registered four per cent reduction in profits in the three months to September, down to $128.6m from $134.2m. More to follow.
Budget: International competition to become new priority for City watchdogs October 25, 2021 The Treasury is reportedly going to reveal this week that City regulators must consider competition as much as they do safety and soundness when making key decisions. The move, set to be unveiled in the budget, is expected to be accompanied by a cut in surcharge tax on banks’ profits. The Treasury has been in [...]
