Insolvencies at fashion manufacturers jump on cocktail of cost pressures Retail Insolvencies at UK fashion manufacturers have risen by nearly a quarter in the past year as a combination of supply and demand pressures has driven firms under while customers switch to pre-loved clothing. According to Forvis Mazars, the international tax and advisory firm, over 100 companies went bust in the year to July 2024, up [...]
BP beats estimates despite lower oil prices Energy FTSE 100 oil giant BP has reported strong-than-expected earnings for the third quarter. On Tuesday, it posted an underlying replacement cost profit, used as a proxy for net profit, of $2.3bn (£1.8bn) for the three months to 30 September. The figure beat analyst expectations of $2.1bn (£1.6bn), according to an LSEG-compiled consensus. However, the figure [...]
Fear of failure is holding British entrepreneurs back Opinion Too many aspiring UK entrepreneurs believe they are doomed to fail before even starting a business, a new report finds It takes great courage to start a business. Often, it means leaving a job with a guaranteed income, holiday allowances and welfare contributions. It is hardly unsurprising then that most people are afraid to make [...]
The FII Institute’s PRIORITY Compass Global Citizen Survey: A Blueprint For Tomorrow October 22, 2024 In 2022, the Future Investment Initiative (FII) Institute embarked on a mission to collate data on what are the most pressing concerns of the majority of the world’s population through the inception of the FII PRIORITY Compass, its global citizen survey. The survey’s role is to help world leaders and decision-makers identify and thereby address these concerns. [...]
Autumn Budget: Which taxes will Rachel Reeves hike? October 22, 2024 With the Autumn Budget set to be delivered in just a few days, speculation about which taxes Chancellor Rachel Reeves will opt to raise has reached fever pitch. On entering No 11 Downing Street, Reeves commissioned the Treasury to conduct a thorough spending audit, which she claimed unearthed a “fiscal black hole” of £22bn, paving [...]
UK faces ‘make or break moment’ in Budget as Swinney calls for spending October 20, 2024 Scotland’s First Minister will use a speech on Monday to urge the Chancellor to increase spending, as he said the Budget presents a “make or break moment” for the UK. Rachel Reeves will present the new Labour Government’s tax and spending plans on October 30, as she seeks to close a £40bn gap in the [...]
Cotswold Outdoor has now lost over £100m since it last made a profit October 16, 2024 The company behind Cotswold Outdoor has now lost more than £100m since it last made a pre-tax profit almost ten years ago, it has been revealed. The Wiltshire-headquartered retailer, whose brands also include Runners Need as well as Snow and Rock, has reported a pre-tax loss of £7.3m for 2023, after also making a loss [...]
Will carbon capture work? Nobody knows – and that’s the problem October 16, 2024 UK’s clumsy carbon capture punt is result of top down intervention – but there’s a better way, writes Paul Ormerod The government confirmed this month the funding for the UK’s first carbon capture sites. The technology, it is claimed, captures CO2 emissions before they reach the atmosphere and stores them away safely. Based on Merseyside [...]
The Notebook: Starmer should spend more time on Linkedin October 16, 2024 Sir Keir Starmer should spend more time clicking away on the world’s most insincere website, according to Michael Martins, founding partner of Overton Advisory Starmer should spend more time on LinkedIn Labour’s first successful International Investment Summit under Prime Minister Starmer yesterday has garnered all the right headlines. Tens of billions of pounds in investment [...]
Qinetiq orders grow as defence boom continues October 15, 2024 Qinetiq inked a £150m deal with the British Army to deliver "tactical military communications," in the most recent quarter.