Changes sweep the boardrooms and C-suites of biggest businesses in the UK August 24, 2022 The boardrooms and C-suites of some of largest companies in the UK have undergone sweeping overhauls this week alone. The winds of change have blown as the country heads into autumn and buckles down for a worsening economic crisis, some two years on from the start of the pandemic. While Covid-19 measures in the country [...]
US in teeth of ‘deep recession’ in ominous sign for rest of world August 23, 2022 The US is in the teeth of a “deep recession” in an ominous sign for the world’s other largest economies, experts warned after a closely watched survey came in much weaker than expected on Wall Street. S&P Global composite purchasing managers’ index (PMI) dropped to 45 points this month, the lowest in over two years [...]
Inflation surge pushes UK economy to edge of stagnation August 23, 2022 Brits reining in spending amid a historic inflation surge has steered the UK economy to the edge of “stagnation,” a closely watched survey released today shows. S&P Global’s flash composite purchasing managers’ index (PMI), which measures activity across the private sector, dropped to 50.9 this month, down from 52.1 in July. The figures indicate “the [...]
M&S doubles down on plans to demolish Art Deco Oxford St store August 21, 2022 M&S is doubling down on its plans to demolish its flagship Marble Arch store, as its CEO describes a trip to Oxford St as “dismaying.” The supermarket is embroiled in a battle with heritage campaigners over plans to raze its Art Deco store in the West End. M&S says the store has “asbestos throughout,” and [...]
Week ahead: Powell to commit to more rate hikes in Jackson Hole speech August 21, 2022 The world’s investors will be closely watching the annual gathering of the cream of the central banking crop at this year’s Jackson Hole symposium in the state of Wyoming. London’s premier FTSE 100 index notched a reasonable performance last week, squeezing out a 0.66 per cent gain to close at 7,550.37 points. Its mid-cap rival, [...]
Leading farming union defends solar panels from Tory attacks August 21, 2022 The UK’s largest agricultural body has defended the farming sector’s support of solar panels, despite criticism from both Tory leadership contenders.
Soho House owner cuts yearly forecast despite buoyant UK membership August 18, 2022 The company behind Soho House has slashed its yearly forecasts even as its UK membership has soared. Membership Collective Group said that Soho House had boosted its UK membership by 20 per cent in the past year from 45,277 to 54,764. The Wall St-listed group marked a 96 per cent revenue, with sales hitting $243.8m. [...]
Energy UK calls on Government to offer loans to businesses facing ultra-high bills August 18, 2022 Energy UK has called for the Government to work with industry and financial institutions, and bring in a deficit tariff scheme.
Banks and lenders can step in to push ESG reporting without waiting for new laws August 18, 2022 Environmental and Social Governance – or ESG – has dominated debates in the business world. But it’s difficult to separate the volume of the talk from concrete results. There is now a framework for companies to disclose climate-related risks and opportunities, but these reporting rules are only mandatory for around 1,300 of the biggest businesses [...]
Auditor BDO quits Tory co-chair’s concierge service Quintessentially August 17, 2022 BDO is reportedly resigning as auditor of Quintessentially, the members-only concierge service founded by Tory party co-chair Ben Elliot, following a breakdown in their relationship. The auditing firm has cut ties with Quintessentially’s travel service, and is also set to exit its relationship with the wider group, the Financial Times reported. BDO declined to comment on the report. [...]