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% […]
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 […]
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 […]
Researchers at the University of Richmond in Virginia have discovered that rats can be trained to drive miniature cars and appear to enjoy the experience. The study, led by Professor Kelly Lambert, found that not only can rats learn to operate tiny vehicles, but they also exhibit signs of excitement and anticipation when given the […]
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 […]
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 […]
Gin and tonic has overtaken tea as the nation’s favourite drink, marking a significant shift in British consumer habits. A recent survey conducted as part of the sixth annual Bacardi Cocktail Trends Report found that 44% of Britons now opt for a G&T when meeting friends, narrowly surpassing the 41% who prefer a traditional cup […]
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 […]
The UK hair salon industry faces an uncertain future, with two in five salons at risk of closure due to rising employment costs outlined in last month’s budget. Industry leaders, including Carla Whelan, CEO of the Regis and Supercuts salon group, have voiced concerns over the “devastating” impact of increased employer national insurance contributions, which […]
Investors are keenly awaiting SSE’s interim results on Wednesday, hoping for an update on the FTSE 100 energy group’s spending plans and progress on its renewable projects. SSE, one of the UK’s largest offshore wind developers, recently completed several significant projects, including the 443-megawatt Viking onshore wind farm, the Shetland subsea link, which will connect […]