Rising inflation, growing global instability and falling demand for high-end drinks have been blamed for a slowdown in growth at the luxury goods multinational LVMH, owner of Christian Dior, Louis Vuitton and Moët & Chandon. The group, whose brands also include Stella McCartney, Tag Heuer watches and Bulgari and Tiffany jewellery, reported revenue of €20bn […]
The Formula One tycoon Toto Wolff and the petrochemicals empire of billionaire Sir Jim Ratcliffe have taken a share of a £75m dividend from the Mercedes racing team behind Lewis Hamilton. Mercedes-Benz Grand Prix recorded a jump in revenues in 2022 aided by a bump in sponsorship and its work on the America’s Cup sailing […]
Closer collaboration around skills, emerging technology and industry should play a key role in future trade agreements between the UK and India, according to Uday Samant, Minister of Industries of Maharashtra, India. Speaking at the Investor summit in central London yesterday, Mr Samat addressed business leaders, outlining his vision about how Maharashtra plans to encourage […]
Aston Martin’s executive chair Lawrence Stroll has said that demand for the marque’s new generation of sports cars has been “incredible,” after the Canadian billionaire ramped up his stake. “I have already invested very, very heavily. I own a Formula 1 team and am the largest shareholder and executive chairman of AML so I don’t […]
Labour will implement plans to bolster workers’ rights within 100 days of taking office, Angela Rayner has told the Labour party conference. The deputy party leader told Labour’s conference that plans to boost protections for gig workers and enshrine basic employment rights from the first day of a job had not been watered down. Media reports […]
Falls in house prices will continue into next year, the UK’s biggest mortgage lender has said, although the rate of reduction has slowed. The Halifax, part of Lloyds Banking Group, said that property prices were 4.7% lower in September than a year earlier. Prices were down 0.4% on the previous month, but that was a […]
More than 420,000 traditional retail jobs have been lost since 2010, sparking fears that the high street may be in ‘terminal decline’. New analysis by the GMB union shows that 420,242 traditional retail jobs have gone – a decline of 28.4% – since the Conservatives took power. The figures emerge as the last Wilko stores […]
More pubs closed in London in the first six months of this year than anywhere else in England, a study has found. The capital lost 46 watering holes up to the end of June, according to data from real estate analysts Altus Group. Across the UK as a whole, 383 pubs closed in the same […]
The BBC has blocked the artificial intelligence software behind ChatGPT from accessing or using its content amid copyright and privacy concerns, after concluding that it was “not in the public interest”. The move brings the BBC in line with other content providers, including Reuters and Getty Images, which are trying to prevent AI from misusing […]
JD Wetherspoon has credited a surge in sales and reduction in costs for its first annual profit since the COVID pandemic. The value pub and hotel chain, which trades from 826 sites across the UK and Ireland, reported profit before tax for the year to the end of July of £42.6m. That compared to a […]