Confidence in the state of the economy has slid to its lowest level since last spring, according to the British Retail Consortium (BRC). The trade body’s latest monthly survey — conducted among 2,000 UK adults — shows consumer confidence tumbling to a net balance of -37, down three points from January and marking an 11-month […]
HSBC has unveiled plans to cut staffing costs by 8% in a push to save $1.5 billion, with thousands of UK employees expected to bear the brunt of the losses. Georges Elhedery, the bank’s chief executive, announced that while HSBC’s 211,000-strong headcount will shrink by less than 8%, the overhaul will nonetheless involve significant job […]
UK inflation jumped to 3% in January, up from 2.5% in December, driven by rising food costs, higher air fares and an increase in private school fees. According to the Office for National Statistics (ONS), this is the fastest pace of price growth in 10 months. Grocery staples such as meat, eggs, cereals and butter […]
MPs have criticised the portrayal of baby boomers as “wealth-hoarding” at the expense of younger generations, warning that such stereotypes risk normalising “ageist attitudes” across the UK media. A new report from the Commons women and equalities committee highlights the widespread depiction of those born between 1946 and 1964 as either frail or living a […]
A Cambridge-based start-up that designs and manufactures folding electric bikes has secured £1.2 million in fresh investment, aiming to ramp up production in a bid to rival market leader Brompton. Flit, founded in 2016 by cycling enthusiast Alex Murray and former Jaguar Land Rover engineer Dave Henderson, says demand for its models far exceeds current […]
A dyslexic entrepreneur has won the support of Sir Richard Branson by pitching his new education app to a video doorbell installed in a hotel lift. Hugh Johnston, 27, discovered last week that the Virgin founder had watched his 60-second pitch and would help promote Tyypo, the app he created to help dyslexics learn from […]
Barely one in ten aspiring first-time buyers can now purchase a home without family assistance, new research from Skipton Group reveals. The owner of Connells estate agency calculates that only 11.5 per cent of potential homeowners are able to buy in their local area on their own income. Skipton’s analysis of average incomes and house […]
The number of company insolvencies rose sharply at the start of the year, reaching a level not seen since the financial crisis, according to the latest figures from the Insolvency Service. More than 1,900 businesses went under in January—10.7 per cent more than a year earlier—meaning nearly 500 firms a week were forced to fold. […]
Britain has emerged as the most unpopular market worldwide among leading fund managers, as growth stalls and inflation lingers following Chancellor Rachel Reeves’s Budget. A monthly survey by Bank of America reveals the UK is the least attractive country for investors, ranking below bonds, cash, energy and utilities in terms of appeal. The findings come […]
Britain’s hospitality and retail sectors are gearing up for April’s looming tax hike on employers’ National Insurance contributions (NICs) alongside a sharp rise in the minimum wage, both of which have industry leaders warning of further job losses and price increases. Dominic Chapman, who runs The Crown Burchetts Green and Restaurant Dominic Chapman in Henley, […]