NatWest Group has disclosed its most substantial yearly profit since the period just preceding the financial crisis in 2007. The banking conglomerate revealed a pre-tax profit of £6.2bn for the year 2023, surpassing expectations. Additionally, it announced the appointment of Paul Thwaite as its permanent chief executive. Thwaite succeeds Dame Alison Rose, who resigned the […]
Food and beverage vendors on Amazon are sounding alarm bells over the looming threat of bankruptcy, all stemming from the ecommerce titan’s decision to withhold their funds until they can substantiate their VAT status. Despite furnishing Amazon with evidence confirming their UK-based operations, numerous sellers find themselves ensnared in what they describe as a “Kafkaesque” […]
Scottish salmon was today named as the UK’s top food export in 2023, following the publication of annual HMRC figures. Sales of the nutritious fish grown in the waters off the Highlands and islands increased by 0.5 per cent to £581 million in the calendar year – equivalent to £1.6 million every day. France once […]
Article content Shopify Inc. reported sales and profit for the fourth quarter that narrowly beat analysts’ estimates, but that didn’t impress Wall Street after the stock more than doubled last year. Revenue for the period rose 24 per cent to US$2.1 billion, beating the US$2.08 billion average estimate of analysts surveyed by Bloomberg. Profit, excluding […]
Aston Martin is currently in discussions with bankers regarding the management of its substantial £1.1bn debt burden, confirmed Lawrence Stroll, the company’s executive chairman. In an interview with Bloomberg Television, Stroll stated, “We are currently in deliberation with our bankers to determine the most appropriate course of action.” He added, “Naturally, we will approach this […]
Ultimate Products, a consumer goods conglomerate, has disclosed a decline in airfryer purchases among Brits, resulting in a four per cent decrease in revenues during the latter half of the year. The company, which boasts ownership of Salter, Britain’s oldest houseware brand established in 1760, reported a revenue drop from £87.6m in the first half […]
Delivery drivers for popular food-ordering platforms such as Deliveroo and Uber Eats are preparing to stage a strike on Valentine’s Day to demand improved pay and working conditions. The strike, scheduled for Wednesday, is being orchestrated by a grassroots organisation called Delivery Job UK, with a significant number of its members hailing from Brazil. The […]
Adnams has confirmed its engagement of advisers to explore avenues for raising funds as the Suffolk-based brewery seeks to safeguard its financial stability. The longstanding company, with a history spanning 152 years and headquartered in Southwold, Suffolk, has enlisted Alvarez & Marsal to “evaluate various options to support the company’s future growth strategies.” In a […]
In a testament to the resilience of the UK’s entrepreneurial spirit, newly released data reveals that over 900,000 new companies were incorporated in 2023, marking a historic high for business formation in the country. The surge in start-ups has propelled the total number of active businesses in the UK to 5.31 million, setting yet another […]
The hairdressing and beauty sector is preparing for potential upheaval, with warnings of salon closures and job losses reverberating throughout Britain. Toby Dicker, co-founder of the Salon Employers Association, representing over 1,400 businesses nationwide, emphasized the industry’s inability to absorb escalating labor costs and taxes. Dicker stated, “We are on the brink of collapse, and […]