Cooking up a storm: Recipe biz Mob will be ‘smart about revenue’ amid recessionary hit on digital ads December 13, 2022 Recipe social media firm Mob has said it will move away from third-party revenue streams this year as digital advertisers’ budgets shrink. Ben Lebus, founder of the food-focused platform and recipe book business, told CityA.M. the firm needed “to be really smart about where we’re getting revenue from” amid the economic crunch. Mob, which has [...]
Poundland owner Pepco to accelerate plan for new stores as profit booms December 13, 2022 Poundland owner Pepco will accelerate its store rollout strategy as it looks to entice cash-strapped shoppers, after posting elevated profit. The discount retailer said it was taking an increased focus on new stores in Western Europe and a refit programme in Central and Eastern Europe. Pepco was upping its annual capex spend to between €350m [...]
Energy firms say they want to do good, so why don’t they care about social mobility? December 13, 2022 The UK’s Big Six energy companies have raked in more than a billion pounds of profit as record hikes in bills force many families to choose between heating and eating this winter. Yet not a single one of them could be bothered to enter the country’s leading Index on how well employers are doing to [...]
Heathrow assures Border Force strikes won’t impact travellers as activity falls December 12, 2022 Heathrow has assured travellers that their journeys will be unaffected by Border Force strikes, as the number of people using the airport falls. Last week, Border Force staff working at several UK airports agreed to strike over the Christmas period in a long-standing dispute over jobs and pay. Members of the union PCS will walk [...]
Severe flooding could cost insurers more than £1bn this winter December 12, 2022 Severe flooding this winter could cost UK insurers more than £1bn, according to analysis from PwC. Storm Eunice in February led to insurers losing £200-300m, mainly as a result of disruption to travel and damage to properties and vehicles due to falling trees. However, floods on the same scale as those seen in 2015 [...]
All quiet on the home front: a resettling is on the cards for new homes and mortgages December 12, 2022 The UK economy has weathered its fair share of turbulent storms over the past few years: from a global pandemic, to war, burgeoning energy prices and now escalating cost of living pressures and interest rates; yet the housing market has remained robust throughout. But rising costs are catching up with potential homebuyers. The next two [...]
Christmas strikes: Government to hold crisis meetings as army called in December 11, 2022 The government will hold a series of crisis meetings this week to try and minimise disruption during widespread Christmas strikes, with the government now calling in the military. Cabinet Office minister Oliver Dowden will convene two Cobra meetings with ministers from several departments as the UK faces crippling strikes in hospitals, airports and railways. The [...]
Exclusive: Change in capital gains allowance causes mass exodus of landlords looking for quick sale December 11, 2022 THE reduction in Capital Gains Allowance is an “unwelcome blow” and has seen the number of landlords looking to sell up hit a 13-year high. Jeremy Hunt announced that the amount you can make from the sale of certain assets before paying tax will fall from £12,300 to £6,000 in April and then to £3,000 in [...]
Tesco on the hunt to replace outgoing chairman John Allan December 10, 2022 Tesco is reportedly looking replace outgoing chairman John Allan, who is set to step down in 2024. Sources told Sky News’ Mark Kleinman that external headhunters had been appointed to help with the recruitment process. Byron Grote – former BP finance boss and non-executive director of the supermarket chain – will lead the search internally. [...]
Saturday Spotlight: Cost of living crisis is giving Buy Now Pay Later shot in the arm December 10, 2022 Buy Now Pay Later offerings may be controversial and much-criticised, it seems the cost of living crisis is giving the format a major boost. In fact, it has emerged that nearly half of all Brits are more likely to or are already using Buy Now Pay Later (BNPL) services compared to a year ago, according [...]