Steep losses looming: Made.com warns job cuts are coming to slash costs after dive in consumer spending July 19, 2022 Made.com said this morning it has launched a review its workforce amid efforts to slash costs as a slump in consumer spending is set to send it tumbling to steep losses. The group said it is looking at its operational structure and headcount, as well as improvements to stock buying and warehousing to try to [...]
Santander hands out four per cent pay rises to help 11,000 workers manage cost-of-living crunch July 19, 2022 Santander today pledged to give four per cent pay rises to all 11,000 of its workers on salaries of less than £35,000 a year. The bank said the pay rises, which will be handed out to around 60 per cent of Santander’s entire workforce, are aimed helping its staff deal with the UK’s cost-of-living crisis. [...]
Begbies Traynor bosses expect rising insolvencies in the coming months July 19, 2022 Begbies Traynor’s revenue has jumped more than a third over the past year, as the business recovery and financial advisory firm scoops up ailing firms. Executive chairman of the London-listed group, also a property services consultancy, said a string a acquisitions and a spike in trading has lifted its financials “comfortably ahead of original market [...]
If the FCA is given a mandate for competitiveness, it could set us up for a 2008 re-run July 19, 2022 The Financial Services and Markets Bill is set to be published this week, to reshape our future outside of the European Union. But even with newfound freedom, we must not forget the lessons of the financial crisis. The UK has a chance to rethink the rules that shape our critical finance sector. In the face [...]
What a new world order might mean for the global economy July 18, 2022 Russia’s invasion of Ukraine has opened fault lines between nations which will affect trade relations and investment for years to come. The war in Ukraine is already having a significant effect on inflation and activity in the world economy as commodity prices have soared and supply chains have been disrupted. Inflation in the G7 was [...]
Streaming subscriptions continue to dwindle as Brits feel the pinch July 18, 2022 The downward spiral for streaming continues this quarter as more and more Brits cancel their subscriptions.
Atom Bank set for first year of profit after three quarters in the black July 18, 2022 Digital lender Atom Bank is on track to post its first full year of profits after revealing today it had spent three quarters in the black in the full year to March. The Durham-based bank, founded by chief executive Mark Mullen in 2014, notched underlying pre-tax losses for the year of £2m, a £34m improvement [...]
Tortilla Mexican Grill’s revenues shoot up by 60 per cent after snapping up rival but inflation and industry pressures bite July 18, 2022 A Mexican food giant experienced a big spike in revenue following a key acquisition and expansion across the UK. Tortilla Mexican Grill’s group revenue was up 60 per cent in the first half of 2022 compared to 2019. This comes after the firm bought out Chilango for £2.75m, taking on its eight sites across the [...]
Exclusive: Utilita Energy boss loses confidence in Ofgem after public warning July 18, 2022 Utilita Energy's no longer has confidence in Ofgem, after it criticised the supplier over its handling of direct debit payments.
Tory leadership race descends into all out war in televised debate July 17, 2022 The Conservative leadership race descended further into vicious mudslinging today as the remaining five candidates tore shreds off each other for 60 minutes in a televised debate. Frontrunners Rishi Sunak and Liz Truss had a number of bruising encounters, with the ex-chancellor accusing the foreign secretary of peddling “something for nothing economics” that are closer [...]