Archax launches regulated digital asset custodian January 31, 2023 Archax - the first FCA regulated digital asset exchange, broker and custodian - has announced the official launch of its custody service.
Paperchase: Struggling stationery chain expected to appoint administrators today – reports January 31, 2023 Paperchase, the high street stationery retailer, is believed to be on the verge of appointing administrators. The chain store’s parent company is reportedly in the process of bringing in insolvency practitioners from Begbies Traynor, according to Sky News. Paperchase’s shareholders are still holding out for a buyer but rumours are they are looking for a [...]
London £4 trillion stock market sees profit warnings hit financial crisis levels January 30, 2023 Profit warnings issued by companies on London’s £4 trillion stock market surged over the last year, propelled by swelling costs squeezing margins, a new report out today reveals. Against a backdrop of skyrocketing energy prices and slowing demand amid cost of living crisis, businesses have had to tell shareholders to brace for profits to come [...]
Flybe heads for administration leaving staff and passengers in limbo January 28, 2023 Regional carrier Flybe has ceased trading and all scheduled flights have been cancelled, authorities have said. The UK Civil Aviation Authority (CAA) made the announcement the company had gone into administration and urged those with booked Flybe flights not to travel to airports. Three early Flybe flights from Belfast, two from Birmingham and two from [...]
We’re instinctively afraid of Big Things, but we don’t need to break up the Home Office January 25, 2023 Whether its Big Government or Big Tech, we have an innate fear of anything too large or unwieldy. But breaking things up - or making them smaller - won't in itself fix problems in the system, writes Sascha O'Sullivan.
Govt to funnel £300m towards British Steel in bid to save struggling metal maker from collapse – reports January 20, 2023 The Government is poised to funnel nearly a third of a billion pounds towards British Steel to save the struggling metal maker from collapse, according to reports. Sky News said that Chancellor Jeremy Hunt is prepared to hand the company £300 million in instalments over the next few years if it meets certain conditions. The [...]
UK’s data watchdog to shift away from big fines to focus on prevention January 18, 2023 The UK’s data watchdog has vowed to shift away from simply hitting companies with big fines for breaching data privacy rules and instead will look to adopt a more preventative approach. John Edwards, head of the Information Commissioner’s Office, said today that he will focus on preventing data breaches from happening in the first place [...]
Corporate insolvencies surge as firms struggle to survive harsh economic climate January 17, 2023 The number of company insolvencies in December 2022 was 76 per cent higher than before the Covid-19 pandemic, new data from the ONS revealed on Tuesday. There were 1,964 company insolvencies in December 2022, 32 per cent higher than the previous year and 76 per cent higher than the 1,119 registered in December 2019. Fladgate’s [...]
Paperchase puts administrators on standby – but ‘interested parties’ in talks January 17, 2023 Stationery outfit Paperchase has put administrators on standby as it scrambles to find new financial backers. Sky News’ Mark Kleinman has reported that Begbies Traynor has been lined up to handle any potential insolvency. The firm has been bruised and battered by the pandemic and changes to the high street, though City sources told Kleinman [...]
Barclays’ staff shortages force it to turn away new business January 16, 2023 Barclays has been turning away companies with more than one director apply for new bank accounts as staff shortages have left the lender unable to complete anything but the most basic background checks. Barclays has struggled to open new business accounts for more than four months, and will probably continue to reject companies with more [...]