Category: In Business

Nov 27

Walmart scales back diversity initiatives after pressure from conservative activist

Walmart, the world’s largest retailer, has announced it will no longer consider race and gender policies when awarding supplier contracts after facing pressure from conservative activist Robby Starbuck. The company is rolling back several diversity, equity, and inclusion (DEI) initiatives following criticism that they were harmful to certain groups. As part of the changes, Walmart […]
Nov 25

Sir Jim Ratcliffe’s Belstaff racks up £18m loss as auditors warn of uncertain future

Belstaff, the luxury leather jacket brand owned by billionaire Sir Jim Ratcliffe, has reported a further £18.3m loss, raising fresh concerns over its financial sustainability. Auditors have warned the business remains reliant on ongoing support from its parent company, Ineos, to survive. Despite selling jackets priced up to £2,125, the brand’s sales declined by 4% […]
Nov 23

UK SMEs brace for average revenue loss of £138,000 in 2025 amid Labour’s budget measures

SMEs across the UK are preparing for significant financial challenges in 2025, with new research indicating an expected average revenue loss of £138,000 per business. According to a study conducted by freelancer platform Fiverr, a quarter of businesses anticipate losses exceeding £100,000 due to the financial pressures stemming from Labour’s Autumn Budget. Despite a modest […]
Nov 20

HMRC doubles payouts to tax whistleblowers amid calls for larger rewards

HM Revenue & Customs (HMRC) has nearly doubled the amount paid to individuals providing tip-offs about suspected tax evasion, disbursing almost £1 million (£978,256) in the 2023/24 financial year compared to £508,500 the previous year. The increase comes amid growing pressure to reduce the UK’s £39.8 billion tax gap—the difference between the tax that should […]
Nov 20

UK considers social media ban for under-16s as Minister orders new research

The Technology Secretary, Peter Kyle, has commissioned new research into the impact of social media and smartphone use on children, signalling that the UK may follow Australia’s lead in considering a social media ban for under-16s. Australia is pressing ahead with plans to prohibit social media access for all individuals under 16, regardless of parental […]
Nov 20

Jaguar retires iconic ‘growler’ logo in electric rebrand to attract new generation

Jaguar is set to retire its renowned “growler” logo—the iconic teeth-baring big cat that has adorned its cars for decades—as part of a bold rebranding strategy aimed at attracting younger, wealthier, and more diverse customers. The move comes as the British luxury carmaker shifts its focus towards an all-electric future, with plans to launch three […]
Nov 12

Metro Bank fined £16.6m by FCA over money laundering monitoring failures

The Financial Conduct Authority (FCA) has fined Metro Bank £16.6 million for failing to implement adequate systems to monitor money laundering risks, impacting over 60 million transactions valued at more than £51 billion. The lapses, occurring between June 2016 and December 2020, reveal serious deficiencies in Metro’s financial crime prevention controls. Metro Bank introduced automated […]