EY partners could get $8m in shares each following Big Four firm’s split June 21, 2022 Partners at EY could be in line to receive windfalls worth $8m (£6.5m) each, if the accountancy firm pushes forwards with plans to split out its audit and advisory operations into two separate firms. Thousands of the Big Four firm’s partners could receive millions in windfall payments each, as part of EY’s plans to break [...]
British factories pare back price hike intentions on cooling demand June 21, 2022 British factories’ are paring back their expectations of price hikes in a sign that inflation may be beginning to ease, reveals a closely watched survey published today. The proportion of manufacturers planning to raise prices over the next three months fell to 58 per cent in June, the lowest level since September and down from [...]
Safestore boosts profits amid flurry of acquisitions June 21, 2022 Profits have spiked at self-storage giant Safestore - powered by a strong trading performance and increased earnings from investment properties.
Train chaos: How will the rail and Tube strikes affect services across London and the UK today? June 21, 2022 Rail and Tube strikes are set to cripple services this week, causing travel chaos for passengers across the UK as members of the Rail, Maritime and Transport (RMT) union at Network Rail and 13 train operators are going on strike. Here is a quick rundown of what to expect today and this week. – When [...]
An online sales tax would be a small hassle for Amazon, but a hard blow for our shops June 21, 2022 The Treasury is considering whether to introduce an online sales tax (OST) as a “means to rebalance the taxation of the retail sector between online and in-store retail”. A decision is expected in autumn – probably as part of the Chancellor’s Budget. If the government has any sense, it will run a mile from taking [...]
Half-life crisis: Can Sizewell C revive the UK’s nuclear ambitions? June 20, 2022 The hovercraft, radar, Sutton Hoo treasure…Ed Sheeran - Suffolk has a colourful track record of innovation and discovery.
Retail chiefs to meet with Treasury amid fears of fading interest in online sales tax June 20, 2022 Top retail bosses will meet with a Treasury minister later this week with the hopes of reigniting government interest in launching an online sales tax and reforming the current rates system. According to a report by Sky News, executives from retail powerhouses including Amazon, Asda, ASOS, Currys and JustEat Takeaway, are to meet with the [...]
30 per cent spike in insolvent companies as firms hit by rising costs and falling consumer spending June 20, 2022 The quadrupling of interest rates since December has tipped thousands of companies into insolvency, with a 30 per cent spike in the last three months. Almost 6,000 firms have gone down according to Mazars, the audit and tax specialists, up from 4,578 inn the previous three months. This comes after the Bank of England raised [...]
Bank of England drops mortgage market affordability test after less than a decade June 20, 2022 The Bank of England said this morning that its Financial Policy Committee will withdraw the so-called mortgage market affordability test. “Following its latest review of the mortgage market, the Financial Policy Committee has confirmed that it will withdraw its affordability test Recommendation,” the BoE said in a statement. This will come into effect from 1 [...]
M&S names Alex Freudmann as new director of food June 20, 2022 M&S has named Alex Freudmann as its new managing director of food after Stuart Machin has taken up the job of chief executive. The retailer announced on Monday that Freudmann, who is currently the managing director of Australian alcohol seller Dan Murphy, would lead the supermarket’s grocery arm from November. As of 1 November, CEO [...]