London nannies’ pay rises to £43,000 as parents fail to secure nursery places August 3, 2023 London parents are having to pay more for nannies because of a lack of nursery places, according to Nannytax, with salaries on average now at £43,000. The government has been urged by the firm to amend its “nonsensical” approach to childcare payments set out in the spring budget, with demand for nannies skyrocketing as early [...]
UK minister warns semiconductor industry cannot ‘recreate Taiwan in south Wales’ August 3, 2023 The UK chip sector cannot “recreate Taiwan in south Wales,” tech minister Paul Scully has said, amid concerns that the UK has not pledged enough investment to compete internationally. Speaking to the Financial Times, Scully said that the UK must focus on advanced manufacturing and design instead of looking to out muscles rivals such as [...]
Bank of England lifts interest rates to fresh 15 year high in smaller than feared 14th straight hike August 3, 2023 The Bank of England today hiked the UK’s official interest rate for the 14th time in a row but by a lower degree than some had feared. Members of the nine-strong monetary policy committee (MPC) voted 6-3 in favour of a 25 basis point rise, smaller than the 50 basis point lift some in the [...]
Bank of England warns of stagnating UK economy and ‘crystallising’ inflation August 3, 2023 The UK economy is on course for a slow burning slump over the coming years and scorching inflation has started to “crystallise,” the Bank of England has warned as it lifted interest rates for the 14th time in a row. In fresh forecasts released today, the central bank said over the next three years, UK [...]
Societe Generale tops forecast, but retail woes put focus on CEO plan August 3, 2023 Societe Generale beat quarterly earnings forecasts on Thursday as the French bank kept costs and provisions down, but a slump at its retail business will turn up pressure on its new CEO as he prepares to unveil his plan. An investor day on Sept. 18 will be a key test for Slawomir Krupa, tasked with [...]
GAM urges shareholders to accept Liontrust takeover as outflows rise August 3, 2023 Swiss asset manager GAM has again called on its shareholders to vote in favour of a takeover bid from UK rival Liontrust as it reported a poor performance for the first half of the year. GAM today reported net outflows of CHF2.2bn (£2bn) and a pretax loss of CHF22.5m – far steeper than the CHF15.4m [...]
UK service sector slows to weakest growth for six months August 3, 2023 The UK’s services sector grew at its slowest rate for six months in July as subdued consumer demand and higher interest rates weighed on businesses, according to new data. The influential S&P Global/CIPS UK services PMI survey showed a reading of 51.5 last month, down from 53.7 in June. Any reading above 50 indicates growth [...]
Wilko on brink of collapse with 12,000 jobs at risk August 3, 2023 Troubled homeware and garden retailer Wilko reportedly intends to call in administrators, placing 12,000 jobs at risk. The high street chain has filed its notice to appoint administrators at the High Court, Bloomeberg first reported, after it spent the summer hunting for a rescue deal. Wilko, which has 400 sites across the UK, has struggled [...]
Is Michael Saylor paving the way to add even more Bitcoin to MicroStrategy’s coffers? August 3, 2023 MicroStrategy Inc appears to be shaping up to add even more Bitcoin to its colossal crypto cache of 152,800 BTC.
Adidas brings in £344m from sale of Yeezy shoes that will aid anti-hate groups August 3, 2023 Adidas brought in €400m (£344.6m) from the first release of Yeezy trainers left over after breaking ties with Ye, the rapper formerly known as Kanye West. The news comes as the German sportswear maker tries to offload the unsold shoes and donate part of the proceeds to groups fighting antisemitism and other forms of hate. [...]
