Insolvencies drop 15 per cent – but experts warn ‘we’re not out of the woods yet’ May 16, 2023 Corporate insolvencies dropped off in April as business confidence seemed to improve but experts warned that the drop may not signal better times ahead. According to new figures from the Insolvency Service, 1,685 companies went insolvent in April 2023, a 15 per cent fall on the same month the previous year. This was also down [...]
Bitcoin and Ethereum trading sideways in line with stock markets May 16, 2023 It’s been a quiet day in the markets as both Bitcoin and Ethereum continue to hover at similar prices to yesterday.
Record number of Brits return to workforce but inflation continues to wipe out pay growth May 16, 2023 A record number of Brits are returning to the workforce in a sign that labour shortages that have held back economic growth and pushed up inflation are starting to unwind, official figures out today show. A net 251,000 people flowed out of economic inactivity in the three months to March compared to the previous quarter, [...]
Amigo boss resigns as subprime lender continues wind down May 16, 2023 The chief executive and director of controversial subprime lender Amigo resigned from his role yesterday as the firm continues its wind down. Danny Malone, who joined Amigo last year, will step down after serving his 6-month notice period to ensure “the continuation of the solvent and orderly wind-down of the business”. Malone said he joined [...]
Boohoo share price soars as profits halve: Brits ditch fast-fashion and head back to the high street May 16, 2023 Online fashion retailer Boohoo said its profits halved, as the cost of living crisis continues to hit consumers’ spending and Brits flock back to physical stores. Pre-tax profits for the group halved during the 12 month period ended 28 February 2023 to £63.3m, down 49 per cent, with revenues dropping 11 per cent to £1.77bn. [...]
Tesco cuts price on 30 own brand products including pasta and oil as supermarket wars continue May 16, 2023 Tesco has announced another round of price cuts on its own-brand pasta and cooking oil as it sees deflation making its way through to cupboard essentials. The UK’s biggest supermarket is dropping the price of 30 products, with 15p off 500g and 1kg packs of own-brand pasta, 14p off its one litre vegetable oil and [...]
Kyiv wakes up to loud explosions as Russia launches drone and missile attacks – after Zelensky’s whirlwind Europe arms visit May 16, 2023 Loud explosions sounded above Kyiv early on Tuesday as Russia launched an intense air attack on the capital using a combination of drones, cruise missiles and possible ballistic missiles. Russia’s latest attack on Kyiv was “exceptional in its density — the maximum number of attacking missiles in the shortest period of time”, said Serhii Popko, [...]
Chicken goujons and late nights give Greggs another positive quarter May 16, 2023 British bakery and fast food chain Greggs said it saw strong sales growth in the first 19 weeks of 2023, as it continued the roll-out of new shops, longer trading hours and added extra options to its menu. Greggs said that total sales in the 19 weeks to 13 May 2023 were £609m, up from [...]
Marston’s pubs: No change in Brits’ appetite for a night out May 16, 2023 Marston’s recorded a near 11 per cent rise in sales in the first half on the back of its strong drinks sales, a trend that has continued over the past few weeks. Marston’s said the continued strength of drink sales demonstrated the resilience of its community pub estate in spite of the economic environment. In [...]
Imperial Brands: Profit up on back of ‘next generation’ tobacco alternatives May 16, 2023 Cigarette maker Imperial Brands reported a 27 per cent spike in operating profit on last year, while its foray into vaping and e-cigarettes also proved lucrative. The London-listed firm said it made £1.53bn operating profit in the six months ended 31 March, with revenue for its ‘next generation products’ offering an alternative to tobacco up [...]
