Victoria Scholar: Credit Suisse’s next move, luxury wins and a guilt-free sirloin steak April 25, 2023 The Notebook is where interesting people say interesting things! Today it’s Victoria Scholar, the head of investment at Interactive Investor. Here’s what she has to say: Credit Suisse released its final set of earnings for the period ahead of the CHF 3 billion takeover from UBS in March. The Swiss bank suffered a CHF 67 [...]
Explainer: Why are landlords fleeing the London market? April 24, 2023 We all know these are not great times for the housing market: rents are extortionately high, especially in the capital, mortgage rates are a constant headache, and many see their dream of buying their first property slip away as the cost-of-living crisis eats away at their savings. Against this gloomy backdrop, buy-to-let investors in London [...]
Prezzo shuts 46 branches including four in London as 810 jobs put at risk April 24, 2023 Prezzo will shut 46 loss making sites across the UK including three in London and place 810 workers at risk of redundancy, as soaring energy and a hike in food costs rattle the business. The Italian restaurant chain, which is owned by private equity firm Cain International said that the closures will impact sites where [...]
Millions of low income households are overpaying for their broadband, says Ofcom April 24, 2023 More than half of low-income homes who qualify for cheaper broadband tariffs are missing out on the deals, according to the UK communications regulator. Only 220,000 households were on a social tariffs as of February 2023, meanwhile 53 per cent of people receiving benefit payments were completely unaware of cheaper deals, Ofcom revealed in a [...]
Would You Become A Salary Nomad For More Money? April 24, 2023 Coronavirus changed many things for many people, and the way that we work was perhaps the most impacted. And the digital nomad, an employment trend that had previously been slightly scornfully reserved for a type of gig economy worker, became a legitimate alternative to the traditional 9-5. While the term has been in use since [...]
Week Ahead: Aldi and Lidl tightening the screw on Sainsbury’s as retailers fight to retain price-wary customers April 23, 2023 The supermarket giant is set to report a fall in annual pre-tax profits this week, posting up to £690 million, down from £730 million last year. According to the latest Kantar survey, Sainsbury’s reported a strong 12-week sales growth of 12 per cent at the end of March, but fell short of rivals Aldi and [...]
Oxford Street on cusp of something really ‘special’, New West End chief says April 23, 2023 Oxford Street is on the cusp of something “really special” and “exciting”, the chief of the New West End company has said, as store development and a boost in international tourism signals a return to better times for London’s most iconic shopping district. Dee Corsi, who oversees operations for the retail strip which spans from [...]
Services sector reaches 13-month high but UK growth ‘lopsided’ as consumers raid the storecupboard April 21, 2023 Growth of Britain’s services sector has reached a year-high in April, a closely watched survey has revealed. Figures released this morning in S&P Global/CIPS flash UK purchasing managers’ index, show output rose to 53.9 in April from 52.2 in March. The survey showed that private sector growth had increased for the third consecutive month, beating [...]
Sunak accused of ‘dither’ on decision to sack deputy PM Raab over bullying report April 21, 2023 Dominic Raab is determined to battle on as Rishi Sunak ponders whether to sack the Deputy Prime Minister after receiving a report into whether he bullied officials. After being accused of “dither”, the Prime Minister was taking a second day to determine whether he will kick Mr Raab out of his Cabinet as he reviews [...]
Retail: Sixth wettest March on record dampens sales as shoppers’ fail to weather inflation hike April 21, 2023 Retail sales fell 0.9 per cent in March as wet weather conditions and high inflation hit consumer spending during the month. Despite Mother’s Day falling within the month retail, non-food sales such as clothing and homeware, fell by 1.3 per cent as the sixth wettest March on record since 1836 deterred shoppers from hitting the [...]