Boohoo poaches Trainline CFO weeks after retailer saw first-ever sales drop June 23, 2022 Boohoo has poached Trainline’s former finance lead as its new chief financial officer (CFO), just weeks after the retailer posted its first-ever sales drop. It comes amid a turbulent period for fast fashion brands. Rival retailer Missguided collapsed in late May, after being hammered by spiralling supply chain costs. Shaun McCabe, who has sat on [...]
Klarna boss slams Barclays for ‘mind boggling’ and ‘irresponsible’ BNPL research June 23, 2022 Klarna’s UK boss has hit out at Barclays today for publishing what he called “mind-boggling” and “irresponsible” research exploring mounting buy-now pay-later debt levels in the UK. Barclays Partner Finance – a division of the bank which offers its own regulated buy-now pay-later-style financing product – issued research today alongside debt charity StepChange warning that [...]
Brits put off buying EV due to record inflation June 23, 2022 Brits are becoming increasingly put off buying electric vehicles (EV) due to rocketing inflation rates. According to a research published today by Close Brothers Motor Finance (CBMF), 41 per cent of Britons have decided against going electric as a result of the cost-of-living crisis. Figures reported that 84 per cent of people are taking at [...]
As the Tories fight on both political flanks, they need to ditch policy-by-stereotype June 23, 2022 TODAY’s by-elections risks exposing the government on both political flanks. A loss in Wakefield, in West Yorkshire, would dent their working class 2019 gains, and a defeat in Tiverton & Honiton, in rural Devon, would strike deep into their southern heartlands. Losses on both these fronts in the next general election could be the recipe [...]
Biden urges Congress to put petrol tax on hold as pump prices spike to record highs June 22, 2022 US President Joe Biden has called on Congress to pass a three-month suspension of the federal gasoline tax to help combat record pump prices.
We need to eat more seafood – here’s how June 22, 2022 Between the cost of living crisis, the imminent environmental collapse and the obesity epidemic, the UK has got its work cut out when it comes to food. Part of the solution, according to a new white paper, is to get people to eat more seafood. The government will invest £24 million in “seafood science and [...]
More than £21bn a year: UK ranks third in Europe for most money lost due to unpaid corporate tax June 22, 2022 The UK ranks third among European countries for the most money lost due to corporate tax abuse on a yearly basis. The European nation that loses the most money to corporate tax abuse is Germany where, on an annual basis, an estimated £27.3 billion goes unpaid. This is followed by France where tax abuse losses [...]
Google searches for ‘remote jobs’ explode by more than 260 per cent as UK crippled by train strikes June 22, 2022 There has been an explosion in searches for ‘remote jobs’ in wake of recent train strikes by more than 260 per cent. New analysis of Google search engine figures show the term has been searched at the highest level in UK internet history. This is despite politicians such as Brexiteer Jacob Rees-Mogg and host of [...]
Inflation jumps to 9.1 per cent: Worried City insiders respond to consumer prices climbing again June 22, 2022 The rate of inflation rose again in May, remaining at 40-year highs, the Office for National Statistics said this morning. The rate of Consumer Prices Index inflation rose slightly to 9.1 per cent in May from 9 per cent in April, according to the ONS. The increase matches what analysts had expected. “Though still at [...]
Cost to rent a home jumps largest-ever amount in past year, says statistics body June 22, 2022 The cost to rent a home has increased by the largest-ever amount over the past 12-months, according to the latest figures from the national statistics body. Average rental prices paid by tenants in the UK has jumped by 2.8 per cent in the year to May, the Office for National Statistics revealed this morning, marking [...]