‘Little luxuries’ and warm weather boost card spending September 3, 2024 The summer heatwave, along with the ‘sweet treat economy’ pushed card spending to return to growth in August, although it remained below consumer inflation. Card spending grew by one per cent in August, below the CPIH inflation rate of 3.1 per cent. Almost half of consumers said they continued to spend on small, luxury purchases [...]
Easyhotel chief hails ‘era of the mega-event’ as driving force behind bookings surge September 2, 2024 The boss of budget chain Easyhotel said the company had the rising cost of ‘mega-event’ tickets to thank for its recent surge in revenue, which rose by almost half in 2023. Karim Malak, who became chief executive of the British business just over two years ago, said the company had experienced a boom in bookings [...]
Bolt: Uber rival doubles UK sales as it surges into the black September 2, 2024 The UK arm of online taxi firm Bolt more than doubled its turnover as it surged into the black, it has been revealed. The company has reported a turnover of £520m for 2023, according to newly-filed accounts with Companies House, up from £237.8m. It has also posted a pre-tax profit of £8.2m for the 12 [...]
FCA under pressure to close cases into senior management amid name and shame row September 2, 2024 The City watchdog is under pressure to punish more bosses for flouting its rules after new figures revealed it had closed only half the investigations opened over the past seven years. Under the watchdog’s senior manager’s regime, introduced in 2016 in response to the financial crisis, staff in positions of power at financial services firms [...]
How much could a UK bank windfall tax raise? August 29, 2024 The banking sector is considered an easy target for an energy-style windfall tax, with lenders enjoying record profits on the back of interest rate hikes from the Bank of England last year.
Mark Kleinman: Cineworld revamp is a horror show for landlords August 29, 2024 This week Mark Kleinman tackles Cineworld's closures, Rolls-Royce's chief executive and plans to rename Twickenham.
FTSE 100: Natwest, Barclays and Lloyds shares drop on fears of Labour tax raid August 28, 2024 Shares in the UK's largest banks dropped on Wednesday amid concerns that the new Labour government could raise taxes on the sector in October's Budget.
London risks Swiftly squandering Eras Tour boost to the economy August 28, 2024 Taylor Swift’s Wembley gigs showed just how good London’s nightlife can be, but it’s all under threat from Nimbyism and over-regulation, says Emma Revell I am a strong believer that one of the best ways to get to know someone is to see what niche topic they can speak about positively and passionately, uninterrupted, for [...]
Oasis: UK economy set for ‘supersonic’ boost with reunion tour including Wembley gigs August 27, 2024 Statisticians can look forward to endless queries about Oasis' impact on the economy after the mercurial Mancunians announced a long-awaited reunion tour.
City job openings set for ‘slight recovery’ after election-fuelled slump August 27, 2024 Recruitment for London finance jobs is expected to stage a "slight recovery" under the new Labour government, according to new research.