Yü Group smashes expectations as renewed customer contracts soar November 28, 2022 Business energy supplier Yü Group smashes revenue expectations as it posts record monthly bookings. In a trading update, Yü said revenue, adjusted EBITDA and operational cashflow was anticipated to significantly exceed current market expectations for the year to 31 December. Record average monthly bookings from new and renewed customer contracts over the last three months has resulted [...]
Revolution Beauty probe into lipstick seller’s accounts continues as lenders hire advisers November 28, 2022 Revolution Beauty has named its new chief executive officer as Bob Holt as the business looks to move forward amid a probe into its accounts. The troubled cosmetics retailer said on Monday its current chief operating officer Holt would be stepping into the top job, after Holt was made responsible for the daily management of [...]
Crypto fraud value surged 32 per cent to £226m this year November 28, 2022 Crypto fraud has surged during the tough economic climate by almost a third this year alone. More than 10,000 crypto fraud reports were made this year, a 16 per cent rise on 2021, as thousands of people were scammed. The value of UK crypto fraud surged by 32 per cent from £171m to £226m this [...]
UK firms well below EU average for tax roll burden of workers on £30k November 28, 2022 The UK has one of the lowest payroll tax burdens for businesses, with the average cost of employing a worker on £30k being £3,000. A new study by accounting company UHY shows Britain is below the European average, with the cost of keeping a worker in their job being 10 per cent of their salary, [...]
UK ‘missing out’ on semiconductor inward investment November 28, 2022 The UK is ‘missing out’ on semiconductor inward investment as international competition heats up, says a new parliamentary report. MPs on the Business, Energy and Industrial Strategy Committee singled out cooperation with the US under the CHIPS Act and engagement with Taiwan as possible areas that could yield opportunities for the booming sector. Globally, the semiconductor [...]
British Patient Capital posts ‘very active year’ despite testing backdrop November 28, 2022 BRITISH Patient Capital (BPC), the venture capital subsidiary of government-owned British Business Bank (BBB), has posted a “very active year” as it continues to back high-growth UK firms. As the largest domestic investor in UK venture and venture growth opportunities, BPC announced that it now manages assets with a total value of £3.1bn. During the [...]
Farage wants to reawaken the Brexit mob with a ragbag of populist policies November 28, 2022 The veteran political journalist Michael Crick recently described Nigel Farage as “the most significant politician of the century so far”. This might seem like a blatant piece of liberal-baiting clickbait, given that Farage has stood for election to the House of Commons no fewer than seven times without success, but Crick is neither a fool [...]
Terrible at times tables? Our reliance on fintechs doing our maths dents our income November 28, 2022 Londoners are the most “maths anxious” people in the UK. If reading this sentence sends a chill down your spine, then you’re probably one of the maths anxious people. The term is a little puzzling – do we mean people who are actually scared of numbers? After all, people seem to be scared of anything [...]
Stabilising the economy depends upon ensuring new start ups stay in our shores November 28, 2022 Tonight I will welcome the Prime Minister, the Lord Chancellor, the Archbishop of Canterbury, the Chancellor of the Exchequer and guests from across the City – and beyond – to Guildhall for the annual Lord Mayor’s Banquet. While the worst of the pandemic is behind us, we are facing the bleakest economic outlook that we [...]
Optimism abounds in OBR forecasts, but just how feasible are they? November 28, 2022 When former Tory chancellor George Osborne created the Office for Budget Responsibility (OBR) in 2010, he was unlikely to have envisioned it would become the source of financial market turmoil. But, that upheaval was not the budget watchdog’s fault. Instead, it was former prime minister Liz Truss and ex-Number 11 incumbent Kwasi Kwarteng’s disdain toward [...]
