Scorching inflation raises fears of Christmas spending slump November 8, 2022 Scorching inflation hobbling Brits’ finances has triggered a spending squeeze that could bleed into Christmas, research out today reveals. Surveys out from Barclaycard and the British Retail Consortium (BRC) show retail sales volumes likely fell in October. While the organisations measured a jump in consumer spending of 3.5 per cent and 1.6 per cent respectively, [...]
More trouble for Black Friday as DS Smith workers vote to strike November 7, 2022 Workers at packaging giant DS Smith voted in favour of strike action this afternoon, adding further pressure on the likes of Amazon in the run up to Christmas. The GMB union said that almost 1000 staff voted for action, adding that the move could have “serious implications” on household names like Amazon who rely on [...]
Government must investigate energy pricing for businesses, urges hospitality body November 7, 2022 The boss of one of the country's leading hospitality bodies has urged the Government to look into energy pricing for commercial businesses.
Tech troubles: Apple iPhone 14 shipments hit by Chinese Covid-19 curbs November 7, 2022 There will be fewer iPhone 14’s under Christmas trees this year after Apple forecast smaller shipments of its latest offering. Apple supplier Foxconn issued a significant production cut as it battled against a Covid-19 outbreak at one of its large facilities in China in mid-October and tough local pandemic restrictions. The Zhengzhou plant – one [...]
Ryanair remains cautious about future despite record half-year November 7, 2022 Ryanair has remained cautious about its future despite posting a record half-year performance. Driven by an exceptional summer traffic, the low-cost carrier’s after tax earnings jumped to €1.37bn (£1.20bn) – up from a €48m net loss last year. Even though slightly below analysts’ consensus, this was its highest half-year results ever, as it surpassed the [...]
Christmas voucher firm Appreciate Group to be snapped up by PayPoint for £83m November 7, 2022 Christmas voucher firm Appreciate Group has been snapped up by PayPoint for £83m, with he firm’s shares jumping 50 per cent. PayPoint is offering each share at 44 pence each meaning the deal would reach around £83m. Shareholders of the company, which offers payments at 28,000 convenience stores across the country, while Appreciate Group stakeholders [...]
Exclusive: FCA threatens buy-now pay-later firms with jail time using financial promotion ‘loophole’ November 7, 2022 The City watchdog has written to buy-now pay-later chiefs warning they could face up to two years in jail if they fail to fall in line with financial promotion rules, as it uses a “loophole” to clampdown on the products despite not directly regulating them, City A.M. can reveal.
Bank of England record recession warning reinforced by fresh research November 7, 2022 A new survey out today reinforces the Bank of England’s warning last week that the UK is headed for the longest recession on record. The economy last month was functioning at the same level as during the teeth of the 2021 winter Covid-19 lockdown, according to consultancy BDO. The firm’s output index, which measures the [...]
Chelsea 0-1 Arsenal: Gunners restore grip on top spot in the Premier League November 6, 2022 The style may have evolved from the days of George Graham but the scoreline is familiar: 1-0 to the Arsenal is a regular sight once more and it’s giving rise to title hopes again. For the fifth time in their last eight games the Gunners won by a single goal at Chelsea on Sunday, scored [...]
Retailers bet on coronation boost after extra May bank holiday announced November 6, 2022 Retailers are hoping for a royally big boost next year after the government announces an extra bank holiday for King Charles III’s coronation. In an announcement today, Prime Minister Rishi Sunak confirmed the UK-wide holiday would fall on Monday 8 May, following the Coronation on Saturday 6 May. “The Coronation of a new monarch is [...]