Retail tycoon Mike Ashley’s Frasers Group has called for his appointment as the new CEO of Boohoo, where Frasers holds a 27% stake, following concerns about a “leadership crisis” at the fast-fashion retailer. In an open letter, Frasers urged Boohoo to replace current CEO John Lyttle, who recently announced his intention to step down, with […]
Car production in the UK fell by 20.6% year-on-year in September, marking a significant decline as manufacturers refocus their operations on electric vehicles (EVs) and face shrinking export volumes. According to data from the Society of Motor Manufacturers and Traders (SMMT), output for both domestic and export markets dropped significantly, with production for the UK […]
Article content MONTREAL — Air Canada and airBaltic say they have signed a codeshare agreement that will help make it easier to fly between Canada and the Baltic states. Under the deal, Air Canada’s marketing code will be placed on 10 routes operated by airBaltic, allowing travellers to fly to Latvia, Estonia and Lithuania on […]
Chancellor Rachel Reeves has secured a record £2.2 billion in inheritance tax (IHT) receipts in the three months leading up to September, as anticipation builds for potential tax changes in her upcoming maiden Budget. According to figures from the Office for National Statistics (ONS), inheritance tax brought in £736 million last month alone, raising the […]
Watches of Switzerland, Britain’s largest Rolex seller, is under pressure from activist investor Gatemore to abandon its main stock market listing in London and explore options in the US. Gatemore, which recently acquired 1.9 million shares in the London-listed company, claims that Watches of Switzerland’s share price is “significantly dislocated” from its value due to […]
Almost a third of UK businesses are urging the government to reduce post-Brexit regulations and red tape to support British trade, according to a survey conducted by Santander. The survey reveals that while there is a growing sense of optimism among small to medium-sized businesses, many are calling for action to ease the burdens imposed […]
Government borrowing in the UK surged to £16.6 billion in September, exceeding expectations and putting additional pressure on Chancellor Rachel Reeves ahead of her first Budget next week. According to figures from the Office for National Statistics (ONS), the deficit for September was up by £2.1 billion compared to the same month last year, marking […]
The Bank of England is expected to reduce interest rates significantly faster than financial markets currently anticipate, according to new forecasts from Goldman Sachs. The Wall Street investment bank projects that the UK’s base rate could drop to 2.75% by November 2025, driven by continued progress on disinflation and dovish signals from policymakers. At present, […]
Business confidence in the UK has taken a sharp downturn, recording its first decline in a year, as concerns mount over Chancellor Rachel Reeves’ forthcoming Autumn Budget. The latest economic data, alongside insights from the upcoming SME Barometer brought to you by Prism, highlights growing apprehension among businesses, with many fearing significant fiscal challenges ahead. […]
Retail leaders are calling on Chancellor Rachel Reeves to scrap the so-called “tourist tax,” warning that Britain is losing billions in economic growth as tourists opt to shop elsewhere in Europe In a letter signed by more than 300 chief executives, including leaders from John Lewis, British Airways, Fortnum & Mason, and the Royal Opera […]