Inflation? Have a Rolex instead. Watches of Switzerland revenue up a quarter as mega-rich keep spending July 13, 2023 Watches of Switzerland reported a 25 per cent hike in revenues for the year, as the demand from the mega rich for luxury goods shows no signs of stalling despite the cost of living crisis. The luxury watch seller reached revenues of £1.54bn up from £1.23bn compared to the same period last year, as it [...]
Domino’s Pizza appoints experienced Aus boss as as new chief: ‘A textbook definition of a safe pair of hands’ July 13, 2023 Domino’s Pizza has appointed a new chief executive, bringing in the chain’s Sydney-listed head for over two decades. Andrew Rennie will get a slice of the action right at the top, having previously been its chief in France and Belgium, Australia and New Zealand, and most recently, Europe, which includes its ‘master franchise agreements’ in [...]
Businesses need to stop looking for a public pat on the back and gold stars July 13, 2023 Businesses must realise that just bragging about how good they are is not a great communication strategy. They won't win a gold star for just doing their job, writes Simon Neville
Channel 4 bosses decline pay rise as staff battle cost of living crisis and revenues dip July 12, 2023 Channel 4 boss Alex Mahon said the broadcaster’s top executives declined a pay rise and deferred their bonuses to stay “in line” with staff who are battling the cost-of-living crisis amid a “tough downturn” in the advertising market for the channel. The broadcaster’s annual report published on Wednesday said it had to “significantly” tighten the [...]
UK families set for another year of cost of living crisis and £65bn hit to finances July 12, 2023 UK families are poised to be gripped by the cost of living crisis for nearly another whole year due to the Bank of England keeping interest rates higher for longer in a bid to vanquish inflation, a new report out today claims. Household finances will be corroded by rising living costs and elevated rates until [...]
UK must prioritise financial inclusion over the City’s competitiveness, says former FCA chair July 11, 2023 The UK “can’t go on” prioritising the competitiveness of the City over the financial access of millions of vulnerable people during a cost of living crunch, the former chair of the Financial Conduct Authority has warned.
H&T shares up: Pawnbroker lending rockets as cash-strapped Brits sell valuables July 11, 2023 Britain’s biggest pawnbroker H&T saw its share price soar this morning, following news that lending grew 22 per cent as punters have been forced to flog off goods to secure extra funds during the cost of living crisis. Ahead of its interim results, which are due to be published in early August, H&T said that [...]
Heathrow: UK-US flights power summer travel surge – but it’s STILL 200,000 behind pre-pandemic levels July 11, 2023 Heathrow Airport reported seven million passengers passed through the hub last month thanks to UK-US flights, a massive uptick on last year but still 200,000 behind pre-pandemic levels. The figure, which comes as airports and airlines are in full swing with summer travel, still falls short of the equivalent month pre-pandemic – but marks a [...]
Shock record wage growth amplifies risk of 14th straight Bank of England interest rate rise July 11, 2023 Workers’ pay is rising faster than expected and at among the quickest paces on record in a sign that the Bank of England will deliver a 14th straight interest rate rise next month, official figures out this morning reveal. Pay excluding bonuses rose 7.3 per cent over the three months to May on an annual [...]
The FTSE 100 has done us all dirty… again July 11, 2023 The FTSE 100 has done us all dirty yet – again. Over and over it marches us up a hill only to send us back down again. Former Bank of England governor Mark Carney is often referred to as the “unreliable boyfriend” of monetary policy making for his comments signalling he and the MPC would [...]