Household incomes in the UK have experienced only marginal growth since 2010, according to a recent report from the Resolution Foundation. The think tank’s analysis indicates that typical household disposable incomes have increased by just £140 annually, a total rise of 7% over 14 years, or an average of 0.5% per year. This slow growth […]
The Bank of England has issued a warning that the UK economy could suffer if higher interest rates lead private equity-backed companies to default on their debts. In its latest financial stability report, the central bank highlighted the significant risk posed by the jump in borrowing costs since late 2021. Private equity-backed businesses account for […]
Amazon is facing a £2.7 billion legal action in the UK over allegations of anticompetitive conduct. The lawsuit, led by Andreas Stephan, a professor of competition law at the University of East Anglia, represents more than 200,000 British third-party sellers on Amazon’s platform. The claim, filed on Thursday at the competition appeal tribunal, accuses Amazon […]
German automotive giant Volkswagen (VW) has announced plans to invest up to $5 billion (£3.94 billion) in US-based electric vehicle (EV) manufacturer Rivian, a key rival to Tesla. This strategic partnership aims to create a joint venture that will enable both companies to share technology and strengthen their positions in the rapidly evolving EV market. […]
Microsoft is facing a substantial antitrust fine following allegations from the European Commission that it illegally bundled its chat and video app Teams with its Office 365 suite, including products like Word. These accusations, which Microsoft can contest, mark the most severe charges against the company since 2013, when it was fined €561 million (£474 […]
The head of Stellantis UK, Maria Grazia Davino, has issued a stark warning that the automotive giant may cease production at its Luton and Ellesmere Port factories unless the UK government provides financial and tax incentives to boost demand for electric vehicles. Davino also called for a reduction in the stringent zero-emission vehicle quotas currently […]
HSBC has announced reductions in its mortgage rates, joining Barclays and NatWest in a move that comes on the heels of hints from the Bank of England about a potential summer base rate cut. Barclays lowered its fixed-rate home loan costs for new deals on Tuesday, with HSBC’s cuts set to take effect on Wednesday. […]
Evri, the prominent parcel delivery company, is set to significantly enhance its sustainability initiatives by embracing “pedal power.” Over the next year, Evri plans to expand its fleet from 33 to 99 e-cargo bikes and from 168 to 270 electric vehicles, as part of a £19m investment in eco-friendly delivery methods. The company’s ambitious target […]
In a bold move to rejuvenate the UK’s beleaguered hospitality sector, the Conservative Party has vowed to launch a comprehensive review of licensing laws and planning regulations within the first 100 days if elected. This initiative aims to support pubs, restaurants, and music venues, which have been significantly impacted by the COVID-19 pandemic and subsequent […]
Britain’s celebrated pottery designer, Emma Bridgewater, has reported a near £1.4 million loss for her homewares brand, attributed to heavy discounting and increased competition online. This downturn follows a £1.1 million profit the previous year. The Stoke-on-Trent-based company, founded by Bridgewater herself, experienced a 9% rise in sales to £36.2 million in the year ending […]