The City View: Victoria Scholar on rising prices, unemployment and retail sales data; and XR cause Lloyd’s of London HQ shutdown April 12, 2022 Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through some of the week’s economics data on GDP, unemployment, retail sales, and talk trading updates. They discuss the latest from ASOS, Deliveroo, and EasyJet: ASOS is facing a raft of headwinds, as investors lose confidence in the online retailer; [...]
Cost of living grip tightens as wages trail rampant inflation April 12, 2022 The cost of living crunch is tightening its grip on Britons’ living standards in a further sign that the UK economy is hurtling towards a period of slow growth. Fresh figures published by the Office for National Statistics (ONS) today reveal pay is lagging far behind inflation, meaning households are unable to buy the same [...]
Waitrose left with £4m hole in pocket after brief deal with online partner April 12, 2022 Supermarket Waitrose is owed some £4m after a four-month partnership with an insolvent venture launched by an Ocado founder. According to a report in The Times newspaper, Waitrose is the second-largest trade creditor of online grocery business Today Development Partners, which collapsed last month. This was laid out in a progress report by administrators at [...]
London lawyers expect boom in legal disputes on the back of Brexit and Covid-19 April 11, 2022 London litigators are readying themselves for a new wave of litigation lawsuits on the back of Brexit and Covid-19. In a survey carried out by the London Solicitors Litigation Association (LSLA), 84 per cent of lawyers polled said they expect a surge in the number of Covid related contractual disputes. Another 70 per cent of [...]
National insurance hike sparks wave of job cuts April 11, 2022 Businesses have unleashed a wave of job cuts to cope with being hit by the national insurance hike, reveals fresh research released today. The pipeline of redundancies has taken off in the last month alone, triggered by firms scrambling to protect their bottom lines ahead of a series of damaging tax rises. The number of [...]
GUILTY: London jury finds tennis legend Boris Becker guilty of hiding shares, loans and property April 8, 2022 Three-time Wimbledon champion Boris Becker has been found guilty at Southwark Crown Court of four charges under the Insolvency Act and acquitted of a further 20 counts relating to his 2017 bankruptcy. The six-time grand slam champion, 54, was accused of hiding millions of pounds worth of assets, including two Wimbledon trophies, to avoid paying [...]
London property director hit with 11 year ban after conning investors out of millions April 5, 2022 A London property director has been given a 11-year ban from the top position, after scamming investors out of millions. Sam Eustace, from Sutton in south London, was formerly director of Kingsman Property, which promised landlords guaranteed rent all year around. The company also offered investors the opportunity to receive annual returns of 30 per [...]
Purplebricks delays appointment of new CEO as due diligence checks continue April 5, 2022 Online estate agent Purplebricks has delayed the appointment of its new CEO amid reports of probes of a historic personal insolvency. The troubled real estate firm revealed a delay in appointing Helena Marston on Monday, in an update to the London Stock Exchange. Purplebricks stated that “due diligence checks required by the AIM Rules are [...]
Downing Street weighs up nationalisation of Gazprom’s UK retail arm April 3, 2022 The government is preparing to nationalise Gazprom's UK supply arm amid a stand-off between the firm and a Wall Street giant,
English Heritage ‘reviews’ relationship with disgraced P&O Ferries April 3, 2022 In the latest indignity for P&O Ferries, English Heritage has reviewed its partnership with the disgraced shipping company. The charity is reviewing its relationship with the ferry operator, after it came under fire for sacking 800 employees last month. English Heritage told the Mail on Sunday that it was “pausing and reviewing” its partnership with [...]