Already thinking about summer? These will be the most popular tourist destinations of 2017 January 6, 2017 If being back at work is already getting you down, why not give yourself something to look forward to by planning your summer holiday right now? Staycations are set to be a big trend in 2017 due to the fall in the value of the pound, but Gatwick airport is confident that weary workers will [...]
Easyjet passenger numbers are on the up despite tough year January 6, 2017 EasyJet had a rough ride in 2016, but has kicked off the new year with a bit of good news, reporting this morning that passenger numbers were up in December. The budget airline transported 5,579,978 passengers around the globe in December, up 15 per cent on the year before. That brought the company's passenger number [...]
Insolvencies are on the rise for the travel industry as the weak pound and terrorism fears hit businesses January 5, 2017 The travel industry is braced for thousands of insolvencies as the sector comes under increasing pressure from terrorism fears and rising costs. According to data from insolvency firm Begbies Traynor, 2,679 businesses in the travel industry currently have "red flags" over them which indicates that they are experiencing significant levels of distress. This is a [...]
City Moves for 16 November 2016 | Who’s switching jobs November 16, 2016 HSBC HSBC’s Sanjeev Chopra is to join Psigma Investment Management as investment director in January 2017 reporting to John Howard-Smith, CEO. A seasoned investment professional, Sanjeev has worked at HSBC for nearly two decades, his most recent role being client director at HSBC Global Asset Management. IHS Markit IHS Markit has appointed Andrew Aziz as the global [...]
John Lewis Partnership considers further reforms to staff benefits as squeeze on retailers tightens November 4, 2016 High street stalwart the John Lewis Partnership is considering further curbs on staff benefits as it becomes the latest retailer to fight back against soaring costs for the sector. Documents seen by City A.M. suggest the escalating national living wage could cost the John Lewis Partnership an additional £171m in 2020. Between 2015, when the [...]
Brexit hasn’t impacted the number of companies going pop too much. Yet… October 28, 2016 The number of companies going bust is edging up as experts predict that it is only a matter of time before numbers may rise more rapidly as a result of the Brexit vote. The latest data, released by the government's insolvency service, reveals that there were 3,633 corporate insolvencies in the three months since Britain's decision to leave [...]
Boom time in the City as Brexit gives a boost to professional advisers October 24, 2016 The UK's vote for Brexit has delivered a big boost for City advisers as firms scramble to find out how they should respond to a period of unprecedented uncertainty. Insolvency firm Begbies Traynor found the number of professional services firms in "significant financial distress" had dropped by 10 per cent since the EU referendum, as new [...]
National living wage pushes tens of thousands of companies into financial distress October 11, 2016 Nearly 100,000 businesses have been pushed into financial distress due to the introduction of the national living wage six months ago. According to data from insolvency firm Begbies Traynor, 97,342 firms impacted by the introduction of the national living wage are now struggling financially, an increase of 23 per cent since the legislation came into [...]
Staycation spending on the up as Britons opt for home-bound holidays August 26, 2016 Domestic holidaymakers are shelling out more on their UK staycations, new research from Barclays Business shows. The average spend on trips in the UK has grown six per cent in the last year to £22.1bn, at £613 per party, up from £575 in 2015. Londoners were willing to fork out more to stay in the [...]
This seaside resort has benefited the most from the UK’s staycation boom this summer August 24, 2016 Britain's most famous seaside resorts benefitted from the booming trend in staycations this summer, according to research from Epos Now, as they were bolstered by the fall in the pound after June's Brexit vote. Brighton topped the bucket and spade charts, with a 12.8 per cent revenue rise recorded by hospitality businesses between 17 July to 17 August compared to [...]