Minister says Rees-Mogg wants to ditch ‘all business regulations’ for SMEs October 2, 2022 Business secretary Jacob Rees-Mogg wants to scrap all business regulations for SMEs with under 500 employees, according to a Treasury minister. Chief secretary to the Treasury Chris Philp told a fringe event at the Tory party conference today that Rees-Mogg would soon outline a package of measures to slash business regulation. “One of which is [...]
Made.com posts widening losses after furniture retailer puts itself up for sale September 29, 2022 Online furniture seller Made.com has posted widening losses after consumers slowdown on buying homeware items amid the cost of living crunch. The company posted a loss before tax of £35.3m for the six months to 30 June, versus £10.1m a year prior. Earlier this week, Made said it would conduct a strategic review of its [...]
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 [...]
Investment firms cannot afford to ignore MiFID II three-way reconciliations September 29, 2022 The EU launched MiFID II three years ago, but penalties for non-compliance continue to rise. The number of sanctions issued by national competent authorities (NCAs) in 2020 quadrupled to 613 totalling €8.4m, up from 371 sanctions totalling €1.8m in 2019. Firms incur penalties simply because their reports contain errors. According to a 2021 ACA report, [...]
Cost of living crunch sinks teeth into Morrisons profit September 28, 2022 Morrisons has posted sliding sales after the retailer was recently knocked out of the Big Four by discounter rival Aldi. In financial results for the 13 weeks to 31 July, the group posted like-for-like sales, excluding fuel, down 3.1 per cent on the comparable period a year ago. The supermarket pointed to “unprecedented inflationary pressures” [...]
Russians flee en masse to escape Putin’s mobilisation with few flights out of Moscow costing £10,000 September 27, 2022 Tens of thousands of Russians are fleeing their country to escape the mass military mobilisation that is currently underway. As a result, international flights out of Moscow now cost more than £10,000 per seat for a single ticket. The Kremlin ordered last week that up to 300,000 reservists across Russia should report for duty in [...]
Chapel Down on track to double in size after heatwave allows August harvest September 26, 2022 Plans to double the size of Chapel Down have “started strongly” after a hot summer has allowed the English wine maker to begin harvesting in August for the first time. The London-listed firm described its 2022 harvest as looking “very positive”, crediting the heatwave that swept the country this summer. “We expect 2022 to combine [...]
Aldi: Low prices ‘more important to us than short term profit’ September 26, 2022 Discount Aldi has said it has seen an extra 1.5m customers switch to shopping at its supermarkets over the past three months. The supermarket was recently declared the country’s fourth biggest, knocking Morrisons down the list, according to Kantar data. In full-year results to the end of December 2021, the budget retailer posted an 87 [...]
Hello, 999? Our ambulances are in desperate need of emergency surgery September 23, 2022 Therese Coffey has only been in post for two weeks, as she reminded everyone, repeatedly, while announcing her plans to fix the health service. Her proposal is not quite as easy as ABCD, but that’s what it’s called. Ambulances, backlogs, care, doctors and dentists. Among her plans, people will be able to see their GP [...]
Citibank’s Malaga office will be a far cry from a paradise September 23, 2022 Recruits to the Costa del Sol have been told they will “only” have to work eight hour days, and will be granted weekends off.