SMEs across the UK are bracing themselves for a challenging rest of 2024, according to the latest Prism Research SME Barometer. The survey of over 500 SME leaders found that more than three-quarters believe ongoing fiscal instability and political turmoil have already hampered their firm’s performance throughout 2023. The data has reignited fears of another […]
Secondhand clothing sales are projected to represent 10% of the global fashion market by next year, as consumers increasingly turn to “pre-loved” garments amidst the cost of living crisis and sustainability concerns. According to a report by GlobalData for resale specialist ThredUp, global sales of pre-owned clothes grew by 18% last year to $197 billion […]
Amazon announced on Wednesday that it will be increasing its investment in Anthropic, an artificial intelligence startup based in San Francisco, by an additional $2.75 billion. This brings Amazon’s total investment in Anthropic to $4 billion, while the tech giant will maintain a minority stake in the company. Anthropic is considered a competitor to OpenAI, […]
British car factories have defied the global trend by reporting a sixth consecutive month of rising production. According to the Society of Motor Manufacturers and Traders (SMMT), UK car manufacturing increased by 14.6 percent in February, reaching 79,907 vehicles. This positive performance extends the trend of growth seen over the past six months, marking the […]
Three major budget fashion brands in the UK, ASOS, Boohoo, and George at Asda, have committed to changing the way they communicate the environmental impact of their clothing following intervention by the Competition and Markets Authority (CMA). The CMA emphasised the importance of presenting accurate and clear eco-claims to consumers and highlighted the detrimental effects […]
Barclays has announced that its payment systems and banking app are now fully operational after experiencing glitches that began on Tuesday evening. The bank issued an apology for the disruption in payments into and out of the accounts of some of its UK customers. In an update provided at 03:25 GMT, Barclays confirmed that customers […]
The Confederation of British Industry (CBI) has come under scrutiny after it was revealed that the organization has employed gagging clauses to silence staff from discussing their encounters with sexual misconduct and bullying within the institution. According to sources, up to 10 non-disclosure agreements (NDAs) have been signed by individuals in the past year following […]
The chief executive of Centrica, Chris O’Shea, saw a substantial increase in his annual pay, rising by nearly £4 million, despite his earlier assertion that such a salary was unjustifiable. O’Shea’s total pay for 2023 amounted to £8.2 million, a significant leap from the £4.5 million he received the previous year, as disclosed in the […]
Parliament has boosted its IT budget by only £6.5m in the last financial year as MPs and peers face a barrage of cyber attacks from China, according to official figures. Data obtained under the Freedom of Information (FOI) Act by the Parliament Street think tank shows that Parliament’s overall IT budget jumped to £67,702,898 – […]
The debut of Donald Trump’s Truth Social took centre stage on Tuesday as the platform’s parent company, Digital World Acquisition, went public, valuing the budding social network at over $9 billion. Digital World Acquisition, the entity merging with Trump Media & Technology, witnessed a surge in its shares, rallying by over 40% since the start […]