Online fashion retailer Asos is poised to confirm that the billionaire retailer Mike Ashley has built up a stake of more than 5% in the company. Asos’s statement to investors could come as soon as Monday morning, before the London Stock Exchange reopens after the weekend. Ashley’s fashion and sportswear retailer Frasers Group informed Asos […]
Average earners, rather than the wealthy, will be required to pay significantly higher taxes to finance higher public spending in the UK, the former governor of the Bank of England said on Sunday. Mervyn King said there “isn’t enough money there amongst the rich to get it back” to fund the “strong case” for some […]
Hundreds of dock workers at one of the UK’s largest container ports are beginning a fresh two-week strike in a dispute over pay, which could further disrupt the country’s supply chains. Nearly 600 members of the Unite union at the Port of Liverpool, which is owned by Peel Ports, will strike again from Monday, after […]
Rishi Sunak’s £520 million scheme to improve the productivity of Britain’s small companies faces the chop as part of a review of business support in Whitehall to find cost savings. The former chancellor launched the initiative in March 2021 to train the leaders of 30,000 businesses on 12-week courses run by business schools over the […]
Almost half of shoppers plan to rein in their Christmas spending this year, with a sharp jump in the proportion of people worried about the impact on their finances, new research has found. The proportion of those concerned about Christmas spending has risen by 15 percentage points in a year to 47 per cent, according […]
Deliveroo gave warning that its sales growth would be at the lower end of previous guidance as rising prices prompt consumers to cut back on takeaways. Despite the economic gloom the delivery group said that it remained confident of being able to adapt and hit its target of breaking even in the second half of […]
Millions of people in the UK are struggling to pay their bills, according to the City watchdog, which said a growing proportion of the population is having trouble making ends meet. A survey by the Financial Conduct Authority (FCA) laid bare the impact of the cost of living crisis, saying about one in four (24%) […]
Zara is to help its UK shoppers resell, repair or donate clothing bought from the Spanish fashion chain in an effort to reduce its environmental impact. The Pre-owned service, which launches on 3 November and will be Zara’s first step into resale or repair, will enable shoppers to book repairs and donate unwanted items online […]
Elon Musk is considering cutting Twitter’s workforce by almost 75 per cent, as the deadline for his $44 billion takeover of the social media group edges closer. The world’s richest man has proposed drastic cuts to the San Francisco-based company’s 7,500 workforce, reducing it to just over 2,000, during conversations with prospective investors, The Washington […]
Households with smart meters could earn hundreds of pounds by using less electricity at peak times this winter as part of efforts to avoid blackouts. National Grid, the company responsible for keeping the lights on, is starting a scheme that pays householders if they shift energy-intensive activities, such as using the washing machine, to when […]