Q&A: Fintech boss Janine Hirt on how London can stay ahead of EU rivals January 26, 2023 Fintech is an increasingly vital part of the UK’s financial ecosystem – so it’s high time to chat with Janine Hirt, the CEO of industry body Innovate Finance, on the challenges that come with keeping the UK out in front of Europe While the UK has historically been a global leader in FinTech – receiving [...]
December’s deep freeze: Cost of living crisis leaves Aviva with a £50m bill for burst pipes and water tanks January 25, 2023 Aviva said last December’s freezing weather meant it had to pay out £50m to policyholders claiming for damage caused by burst pipes and water tanks. An Aviva spokesperson told City A.M. said soaring energy costs had led to more frozen pipes because households were more reluctance to turn on the heating, leading to more extremes [...]
UK’s wealth gap: Cost of living crisis boosts income of richest Brits by £1k but leaves poorest £600 a year worse off January 25, 2023 The disparity between Britain’s richest and Britain’s poorest earners has grown as a result of the cost of living crisis and a freezing in the income tax threshold, figures have revealed. The richest Brits have managed to increase their household disposable income by just over £1,000 in the last year, while the poorest are on [...]
Wetherspoon boss Tim Martin lashes out at ‘vast disparity in VAT treatment’ between pubs and supermarket alcohol sales January 25, 2023 Wetherspoon boss Tim Martin has launched a scathing attack on the government, saying the biggest threat to pubs is the “vast disparity in tax treatment” compared to restaurants and supermarkets. The outspoken chain boss said he was “cautiously optimistic” for the financial year ahead, as the firm published its like-for-like sales in the 25 weeks [...]
Rise of the TW*Ts: TfL reveals tumble in Friday morning commuters, but night owls coming back to the capital January 24, 2023 Mondays and Fridays are the quietest days on London’s tube network in a sign that post-Covid hybrid working patterns are here to stay. Data published by Transport for London (TfL) showed a 13 per cent dip in passenger numbers on any given Monday between October and December 2022 compared to the rest of the week. [...]
UK economy stumbles behind Euro peers as risk of recession gathers pace January 24, 2023 The UK economy is falling further behind its international rivals and experts, according to a closely watched survey. The survey by economists has revealed Britain’s services industry, which generates about £2 in every £3 in the country, is shrinking at the fastest pace in two years. S&P Global and the Chartered Institute of Procurement and [...]
Ovo Energy backs social tariff for vulnerable households facing record bills January 24, 2023 Ovo Energy has joined calls for a social tariff to help vulnerable households grappling with record energy bills.
Avatar’s success gives boost to struggling cinemas but future is still uncertain January 23, 2023 The highly anticipated Avatar sequel has ranked as the sixth-highest grossing movie ever, giving cinemas a much needed boost, although some analysts warn they are not yet in the clear. After six weeks on the big screens, “Avatar: The Way of Water” surpassed a staggering £1.6bn ($2bn) in box office sales on Sunday, Disney estimates. [...]
Former Labour MP Jared O’Mara ‘tried to claim up to £30,000 to fund extensive cocaine habit’ January 23, 2023 A former MP tried to fraudulently claim up to £30,000 in taxpayers’ money to fund an “extensive cocaine habit”, prosecutors have said. Jared O’Mara, 41, who represented the constituency of Sheffield Hallam from 2017 to 2019, is on trial for submitting “dishonest” invoices to the Independent Parliamentary Standards Authority (Ipsa). Jurors at Leeds Crown Court [...]
Glass half-full: Why Fuller’s chief remains optimistic despite strikes leaving a £4m dent in Christmas sales January 23, 2023 Pub chain Fuller’s lost £4m in sales due to the impact of strikes over Christmas and new year, as its chief warned of lower expectations for the full year. Chiswick-based Fuller, Smith and Turner reported in the 43 weeks to January that like-for-like sales were up a fifth on the Covid-impacted previous year – despite [...]