Budget sparks 13 per cent jump in business insolvencies December 17, 2024 The number of business insolvencies in England and Wales rose 13 per cent in November, as the impact of the Budget continues to hit firms hard. Experts have also warned that things are not going to get better, with April’s looming Employers’ National Insurance increase leaving firms in a “perilous position”. Nearly 2,000 firms went [...]
Chapel Down: Winemaker toasts new CEO as finance chief resigns December 13, 2024 Chapel Down has named James Pennefather as its new chief executive while its finance head has resigned after a challenging year for England’s biggest winemaker. The London-listed firm said on Friday that Pennefather will take up the CEO post on 1 February, replacing Andrew Carter – who resigned in September as the firm reported a [...]
UK economy on ‘recession watch’ after unexpected contraction December 13, 2024 The UK economy shrank unexpectedly in October after a fall in production output and stagnation in the services sector ahead of the Budget. GDP fell 0.1 per cent during the month, data from the Office for National Statistics (ONS) showed. Economists had expected a return to modest growth of 0.1 per cent. It marks two [...]
Ed Warner: Sport owners mustn’t forget the loyal and local in rush to go global December 12, 2024 In the frenzied rush to create global franchises and events, the sport business risks forgetting local and loyal fans at their peril, says Ed Warner. Storm Darragh dashed many sporting dreams last weekend, including those of the Australian 15-year-old who spent all his savings on a solo trip from Down Under only for the last [...]
The Notebook: Is it time for the City to embrace behavioural science? December 11, 2024 When Rachel Reeves laid the groundwork for deregulating the finance sector last month, the City’s behavioural scientists spied an opportunity. After all, you don’t need an encyclopaedic knowledge of the City’s post-crisis rap sheet to understand that relying on regulation and controls to influence financial workers’ behaviour has its limitations. Whereas if there were a [...]
Should libertarians fear digital ID cards? December 11, 2024 The government is introducing digital IDs that will enable young people to prove their age when buying a pint, but is it worth giving up your privacy to the state to make you life a little easier? Asks James Price In my favourite movie, 2007’s Hot Fuzz, the village pub allows the underaged children of [...]
Naked Wines toasts progress as losses are slashed December 10, 2024 The boss of Naked Wines has said the brand is “in a better position, both financially and strategically” after slashing its losses during the first half of its financial year. The Norwich-headquartered company has reported a pre-tax loss of £5.6m for the six months to 30 September, 2024, down from the £9.7m loss it posted [...]
Post Office predicts record-high £1bn in cash withdrawals ahead of Christmas December 10, 2024 The Post Office is predicting a record-high number of personal cash withdrawals this month, reaching upwards of £1bn. The prediction exceeds last year’s record-breaking numbers during the festive shopping season, with December 2023 seeing a total of £930m in cash withdrawals. A total of £916m in personal cash was withdrawn in November, the latest figures [...]
Just how blue is the sky for Bluesky? December 9, 2024 Bluesky is pitching itself as an alternative to the social media behemoths, but the history of the internet is littered with notable failures, says Paul Armstrong Bluesky has drawn sharp attention, pitching itself as the anti-social media — a decentralised network that hands control back to its +25m users including news organizations, politicians, celebrities and [...]
The markets in 2025 December 9, 2024 Market forces are likely to continue to change into next year and dealmakers need to be ready, says Merlin Piscitelli With elevated wage costs and tax changes, business sentiment has sunk to an all-time low, following the Autumn Budget. But while confidence in growth under a Labour government appears weak, one industry that is booming is mergers [...]