Klarna’s UK chief on looming regulation – and why it might not settle the buy-now pay-later debate April 20, 2023 Klarna's UK chief talks a regulatory crackdown - and why the debate around buy-now pay-later products may continue
Deliveroo: Nine per cent dip in orders as Brits lay off takeaways in hard times – but revenues propped up by ads April 20, 2023 Deliveroo reported a disappointing nine per cent drop in takeaway orders but it was not enough to dampen a spike in its revenue for the first leg of the year. Tthe average number of customers visiting the app fell to 7.1 million from 7.6 million in the same period last year, as high inflation and [...]
Bank of England won’t cut interest rates until Christmas but UK to avoid recession April 17, 2023 The Bank of England is poised to cut interest rates at Christmas, lured into the decision by inflation falling rapidly over the course of this year, new forecasts that also say the UK will dodge a recession out today claim. Governor Andrew Bailey and his team of economists are tipped to launch the first rate [...]
Rishi Sunak bans new smart motorways amid safety concerns April 16, 2023 The building of new smart motorways is being cancelled as prime minister Rishi Sunak acknowledged concerns about safety and cost. Fourteen planned smart motorways – including 11 that are already paused and three earmarked for construction – will be removed from government road building plans, given financial pressures and in recognition of the lack of [...]
UK economy stalls in February but is just about on track to dodge recession in early 2023 April 13, 2023 Britain is just about on track to dodge a recession in the first half of this year, defying gloomy predictions from experts heading into 2023 that the economy would suffer the largest slump in recent memory, figures out today show. Gross domestic product (GDP) – which measures the value of all goods and services produced [...]
Beleaguered Edinburgh Fringe responds to financial struggles of key London festival April 12, 2023 The future of the Edinburgh Fringe festival is hanging in the balance due to rising costs, the Edinburgh Festival Fringe Society’s chief executive Shona McCarthy has said. “It’s not an exaggeration to say that this festival is under existential threat,” said McCarthy, speaking on Barry Fearn’s Leading Conversations podcast. “We’ve come into 2023 with a [...]
Retail sector pins hopes on King’s coronation to lift sales April 12, 2023 Shoppers put cost of living fears behind them as they splashed out on Mother Day gifts in March, helping to slightly boost retail sales, but damp weather and soaring inflation has left the sector holding out for the King’s coronation in May to see a “larger uptick” in sales. According to data by the British [...]
IMF: UK economy to toy with recession this year – and fall to the bottom of global growth leaderboard April 11, 2023 Britain is steering toward the bottom of the G7 economic growth table this year and will toy with a recession for most of 2023, the world’s economic watchdog warned today. UK gross domestic product is tipped to shrink 0.3 per cent per cent in 2023, the weakest performance of any economy in the group of [...]
Edinburgh Fringe could be forced to close due to rising costs, warns chief executive April 11, 2023 The head of the Edinburgh Festival Fringe Society has warned the annual Edinburgh Fringe event is under “existential threat” due to rising costs faced by companies and venues. Speaking on Barry Fearn’s Leading Conversations podcast, Society chief executive Shona McCarthy said the lack of support had left the Fringe “cracking at the seams” before the [...]
Gender pension gap: Women trail men by thousands – and the gap could widen April 11, 2023 Women’s pensions are on average £17,014 smaller than their male counterparts, per a new study by pensions consultants TPT. The research found that among those who knew how much they had put aside, the average man in his 50s would retire with far more money than a female counterpart. Women workers, by contrast, fear that [...]