British Gas: Centrica CEO’s pay slashed in half at FTSE 100 giant March 18, 2025 The boss of Centrica, the FTSE 100 parent company of British Gas, has seen his pay slashed by almost half for the group’s latest financial year. Chris O’Shea took home £4.3m for the 12 months, down from the £8.2m he received in the prior year. O’Shea, who has been CEO of the FTSE 100 company [...]
Two thirds of large UK shops to pass on higher business rates to consumers March 18, 2025 Two thirds of businesses subject to the government’s new ‘super tax’ business rate multiplier will increase prices to combat cost pressures, a survey has found. The effect would be to increase prices in flagship retail stores by around three per cent, according to High Streets UK. “[The higher multiplier] would be a disaster for jobs, [...]
Insolvencies rise in February as low confidence begins to bite March 18, 2025 More than 2,000 companies filed for insolvency in February as a growing number of firms struggle to cope with soaring taxes and high inflation. Business confidence has tumbled with companies preparing for the worst before Chancellor Rachel Reeves‘ £40bn tax raid comes into effect next month. But the latest data from the Insolvency Service showed [...]
Adzuna falls into the red amid hiring slump March 18, 2025 Jobs website Adzuna has fallen into the red as its sales were slashed by a third after battling a “turbulent” economy and a fall in hiring activity. The London-headquartered business has reported a pre-tax loss of £276,797 for the 12 months to 30 June, 2024, after it achieved a pre-tax profit of £1.5m in the [...]
Office: Shoe retailer doubles profit to over £100m March 18, 2025 Profit at the group behind shoe retailer Office more than doubled to over £100m as it continued to open new stores and created hundreds of jobs. The business, which also includes the Offspring brand, has posted a pre-tax profit of £102.4m for the 12 months to 30 June, 2024. The future comes after the group [...]
SThree fees crater amid ‘challenging market conditions’ March 18, 2025 City recruiter SThree saw fees drop 15 per cent over the last quarter as the group grappled with “challenging market conditions” within the job-seeking sector. The London-listed firm, a specialist in finding roles for Science, Technology, Engineering and Mathematics fields, saw declines across every arm and region of its business, it revealed in a quarterly [...]
Old Mutual earnings spike as firm gears up to find a new boss March 18, 2025 Pan-African financial services group Old Mutual recorded headline earnings growth of 20 per cent last year as the firm gears up to find a new CEO. The London-listed group reported 14 per cent growth in adjusted headline earnings, while profit after tax climbed nine per cent in its full-year results. However, the financial services group’s stock price [...]
Is Facebook about to fall foul of new fraud laws? March 18, 2025 This week the anti-fraud provisions of the Online Safety Act start to become enforceable. This could mean huge fines for social media firms that break the law by carrying fraudulent content. Yet our investigation shows that Facebook is still carrying numerous adverts for investments that might be seen to break the new law, says Andrew [...]
UK economy facing recession risk as Spring Statement looms March 17, 2025 Britain’s fragile jobs market indicates that a recession is looming for the UK economy, a leading think tank has warned. Chancellor Rachel Reeves defended the government’s economic record in an interview with Bloomberg TV on Monday, claiming most major economies around the world are facing lower growth than expected. But the Resolution Foundation said the UK [...]
Central London’s office market outperforms New York and Hong Kong March 17, 2025 London’s office market has outperformed global peers after a fall in availability of new stock pushed prices to record highs last year. The City of London and the West End achieved prime rental growth of 11.6 per cent and 9 per cent last year, respectively, helped by a city-wide vacancy rate of 6.6 per cent. [...]