Deloitte pays partners more than £1m each as consulting revenues surge September 30, 2022 Deloitte today said its 672 equity partners will take away average payouts of £1.06m each after a bumper year for its advisory business saw the Big Four accounting firm’s revenues surge 10 per cent to £4.9bn. The uptick in Deloitte’s UK revenues for the year running up to 31 May 2022 came as sales [...]
UK borrowing costs surge and FTSE tanks after Truss and Kwarteng back mini-budget September 29, 2022 UK borrowing costs fired higher and the country’s largest listed companies tanked today after prime minister Liz Truss and chancellor Kwasi Kwarteng doubled down on their tax cutting and borrowing plans. London’s FTSE 100, home to the UK’s top companies, shed 1.77 two per cent. The mid-cap FTSE 250 index nose dived more than three [...]
Economic headwinds risk leaving UK’s small businesses underinsured September 29, 2022 The headwinds facing the UK economy risk leaving small businesses underinsured, Aviva has warned. Inflation, supply chain disruption, and labour shortages could leave UK small and medium enterprises (SMEs) at risk of facing huge bills, if the insurance policies they have fail to cover the actual costs repairing buildings or replacing assets, the insurance giant [...]
Porsche shares climb following €75bn IPO September 29, 2022 Posche’s stocks made a strong start on Thursday, climbing as high as 5 per cent following the luxury car maker’s €75bn (£67bn) Frankfurt IPO. Shares increased from an issue price of €82.50 to €86.78 by mid-morning before closing at €82.74. Chief executive Oliver Blume said the company was “very positive about the first price.” “Of [...]
BBC slashes nearly 400 jobs as licence fee squeeze continues September 29, 2022 The BBC has slashed nearly 400 jobs from its world service division as the broadcaster feels the increasing pressure of the licence fee freeze. The Beeb said it would be moving towards a “digital-first” strategy for the BBC World Service, cutting 382 posts in the process. “Changing audience needs around the world – with more [...]
Truss urged to clarify ‘false’ claim “nobody is paying fuel bills of more than £2,500” September 29, 2022 Prime Minister Liz Truss has been urged to clarify a reportedly false claim that “nobody is paying fuel bills of more than £2,500”. Fact-checking charity Full Fact and consumer champion Martin Lewis both warned Truss’ claim was incorrect, and that there was a risk “vulnerable elderly people” think they can keep heating on without paying [...]
Truss defends mini-budget as ‘the right plan’ in bruising local radio interviews September 29, 2022 Prime Minister Liz Truss said she was willing to take “controversial” steps to spur growth today as she refused to reverse her economic plans that have rocked financial markets this week.
Mitchells & Butlers sounds alarm over soaring energy costs September 29, 2022 Pub and restaurant group Mitchells & Butlers sounded the alarm over soaring inflation today as it reported a dip in sales in the year to September.
Next boss warns of two cost of living crises after slashing forecasts September 29, 2022 Next has slashed its sales forecasts for the second half of the year today despite a 16 per cent jump in pre-tax profit in the six months to July.
Keeping entrepreneurial spirits high despite the economic challenges September 29, 2022 With the holiday season over and as we start the autumn term, many of us will have friends or family members either starting university, advancing their education and training, or entering the workforce for the first time.Emerging from a global pandemic, addressing an increasingly urgent climate crisis and facing an uncertain global economic and political [...]