New Look in talks with lenders to refinance £100m debt May 26, 2023 New Look is reportedly in talks with its lenders to refinance £100m of debt amid a challenging time for the British fashion chain. New Look is understood to be working with advisers at Deloitte on exploring options for a term loan which ends its June 2024, according to reports in Sky News. Sources told the [...]
Chancellor Jeremy Hunt says Bank must act – even if hikes slow UK economy May 26, 2023 Chancellor Jeremy Hunt has backed interest rate hikes being used to calm soaring inflation even if they increase the risk of pushing the UK into recession. Mr Hunt insisted in an interview aired on Friday that the “only path to sustainable growth” is to bring down the high prices behind the cost-of-living crisis. The Bank [...]
Top City investor: Rate hikes and gilt spike WILL throw UK economy into recession May 26, 2023 A top Square Mile economist has warned that further rate hikes and the increasing price of government debt means the UK will struggle to avoid recession. Speaking to the BBC’s Today programme this morning, Abrdn’s investment director Luke Hickmore said that incomes were set to come “under a lot of pressure” after the Square Mile [...]
Asda owners tying up £10bn merger with petrol giant EG May 25, 2023 The billionaire owners of Asda and petrol giant EG are reportedly gearing up to tie a ribbon on their £10bn merger in Britain. The deal, which will create a cluster of 170,000 employees and revenues of £30bn, is set to be announced on Friday, according to reports in Sky News. If confirmed, the group will [...]
Maserati MC20 Cielo review: The sky’s the limit May 25, 2023 We drive the Maserati MC20 Cielo, a drop-top supercar designed for azure Mediterranean skies. How will it fare on a grey day in Britain?
Sunak to meet Google boss for AI threat talks as regulation debate heats up May 25, 2023 Rishi Sunak and Google chief executive Sundar Pichai will reportedly meet tomorrow for talks on the threat posed by artificial intelligence (AI). The Prime Minister and tech boss will hold a private meeting on Friday, according to Sky News. Downing Street would not confirm the meeting to City A.M. and Google did not immediately respond [...]
Make your own Chelsea Flower Show winner on a London balcony May 25, 2023 The arrival of the Chelsea Flower Show has coincided with the first sustained spell of nice weather in a hitherto miserable 2023. Now Londoners can finally open their garden sheds and channel their inner Alan Titchmarsh, attempting to turn their outdoor spaces into something bright and spectacular. The Chelsea Flower Show this year is themed [...]
Germany tips into recession and analysts warn economy won’t get much better May 25, 2023 Germany slipped into an official recession over the winter, triggered by family finances being crushed by sky high energy bills, official figures out today show. Revised estimates from the country’s statistics agency, Destatis, revealed gross domestic product (GDP) contracted 0.3 per cent in the first three months of this year. The organisation previously thought output [...]
I have a fear of flying – could easyJet’s Fearless Flying course cure me? May 24, 2023 First, a confession. I have my dream job, but recently it’s started to feel more like a nightmare. As a travel journalist, I’m in airports every month to write articles about destinations all over the world. Yet somehow in recent years, I’ve developed a fear of flying. True, I still get on planes regularly and [...]
PMQs sketch: Keir Starmer, future fruit picker for Britain May 24, 2023 Keir Starmer's heart wasn't really in it as he faced Rishi Sunak and cracked his many pre-rehearsed jokes at Suella Braverman's expense.