Exclusive sitdown: Inflation is forcing advertisers to make some tough choices, warns Ebiquity’s boss January 10, 2023 As inflation hit the highest levels in decades in the UK last year, and across large parts of the world, and the cost of living crisis is eating up the household budgets of millions of Brits, many industries are increasingly suffering. That won’t be any different in 2023 and the advertising space is no exception. [...]
Bentley posts record sales as luxury car market looks set to ride out cost-of-living crisis January 10, 2023 Bentley has broken another sales record, as it delivered over 15,000 vehicles for the first time in its 104-year history. Over the past 12 months the luxury car maker sold 15,174 vehicles – a 4 per cent up on the record levels of 2021. The significant growth was driven by the introduction of new models [...]
Sadiq Khan hammers Hunt for slashing support for businesses grappling with sky-high energy bills January 9, 2023 Sadiq Khan has urged Hunt to reconsider its plan to drastically cut support in energy bills, fearing an uncertain future for businesses.
Jaguar Land Rover’s sales to retailers surge as semiconductor shortages ease January 9, 2023 Jaguar Land Rover today reported a surge in the number of sales to retailers, as the semiconductor shortages that have plagued the automotive industry for the past three years begin to ease. The luxury car maker produced 79,591 vehicles in the three months to 31 December, 15 per cent up on last year’s levels. Wholesale [...]
UK enters space race: where to watch the launch of Virgin Orbit’s Cosmic Girl January 9, 2023 Tonight sees the first launch of a space rocket via UK soil, with an expected launch window starting at 21:45pm tonight. The LauncherOne rocket be attached under the wing of a modified Boeing 747 owned by Virgin Orbit which will take off from Spaceport Cornwall at Newquay Airport. The mission, dubbed ‘Start Me Up’ mission is a collaborative effort [...]
Business energy support scheme to be slashed today as Jeremy Hunt warns help can’t last forever January 9, 2023 A new scheme to support businesses with their energy bills will be announced later on Monday, but is expected to be significantly cut after Chancellor Jeremy Hunt warned existing spending is “unsustainably expensive”. The package will be announced to MPs, with the current cap on the unit cost of electricity and gas for firms set [...]
Zopa Bank: Surviving recessions, battling digital banks and whether it will float in London this year January 9, 2023 Zopa is a firm that has weathered economic crises before. When the global financial crisis swept through the economy in 2008, the London-headquartered fintech was a little-known but early-moving peer-to-peer (p2p) lending shop connecting borrowers with willing investors. Banks had unsurprisingly reined in loans and hauled up the barricades, leaving consumers scrambling for cash through other [...]
‘Divorce Day’: Why cash-strapped couples are looking at putting off their split amid money woes January 9, 2023 Over a third of married couples who had been considering a divorce are now opting to stay in their relationship because of the cost-of-living crisis, according to a survey. The first working Monday of the new year has been dubbed ‘Divorce Day’ by lawyers, but many couples are thinking twice before splitting from their partner [...]
Exclusive: UK firms stop hiring and mull layoffs as recession takes hold January 9, 2023 Layoffs are on course to climb, driven by businesses cutting costs amid what risks being the longest UK recession in memory, exclusive research shared with City A.M. indicates. Firms are planning to pause hiring or even sack workers to protect their finances from a slump in spending sparked by the cost of living crisis. Nearly [...]
UK’s cost of living crisis will swipe over £2k from Brits pockets with some groups expected to feel squeeze of recession even more January 9, 2023 The UK is just halfway through a cost of living crisis that will swipe £2,100 year from incomes with living standards remaining at pre Covid levels until at least 2028, a report out today has revealed. The cost of living crisis which, when combined with a tough recession, will leave households worse off than they [...]