Bank of England warned to be wary of public sector pay deals August 23, 2024 "The big risk is that by setting a benchmark for private sector firms, these pay deals prevent wage growth and services inflation from falling much further," Ashley Webb, UK economist at Capital Economics said.
Thames Water: Ofwat hunt for independent ‘monitor’ already under way August 23, 2024 Ofwat’s search for an independent ‘monitor’ who will report on Thames Water’s progress and have access to company information is already under way, City A.M understands. The new appointment is part of a string of new measures that Thames has signed up to in order to avoid a hefty fine for breaching its licence conditions, [...]
Taylor Swift’s Eras Tour boosts London amid calls for the icon to get Freedom of the City August 23, 2024 On Tuesday night, Taylor Swift played the final show of the European leg of her record-breaking Eras Tour at Wembley Stadium. The results are in: London saw a boost in consumer spending, city footfall and tube journeys during her stay in the capital, with one MP describing her tour as a “lifeline” to the UK [...]
City of London Police constable charged with sexual assault August 23, 2024 A City of London Police constable has been charged with sexual assault . A statement was issued this morning by the City of London Police regarding Constable Joseph Moore, who was arrested earlier in the year. After his arrest he was also immediately suspended. Detective Superintendent Carly Humphreys, head of professional standards department at the [...]
UK economy still Europe’s ‘bright spot’ after latest PMI surveys August 23, 2024 The latest 'flash' purchasing managers' index (PMIs), released yesterday by S&P, showed that the UK maintained its advantage over rivals on the continent in August.
Public sector spending on consultants hits record high despite efforts to cut August 23, 2024 Public sector spending on management consultants has ballooned to a near-record high this year despite efforts to cut reliance on the expensive sector. Fees to consultants from central government, local authorities and other departments swelled to an estimated £3.4bn in the last fiscal year between 2023 and 2024, a rise of 12 per cent on [...]
Shein uncovers child labour in its supply chain August 23, 2024 Fast fashion giant Shein has admitted it found two cases of child labour in its supply chain last year in a revelation that will likely fuel concerns in the City ahead of potential blockbuster float on the London Stock Exchange.
Home REIT: Beleaguered trust targets lifting of trading ban August 23, 2024 Home REIT has laid out its plan to apply to the Financial Conduct Authority to restore the trading of its shares, as the beleaguered trust’s chair admitted facing “very significant challenges”. The trust was launched with the intention of providing social housing to the homeless, but has been pummelled with multiple scandals over the last [...]
Ted Baker seller in the red as jobs cut and stores closed amid focus switch to Suit Direct August 23, 2024 A group which sells Ted Baker clothes across the UK slumped into the red as it significantly restructured itself to focus on its Suit Direct brand. As part of the move, Baird Group disposed of its license to sell Ben Sherman clothes, closed unprofitable stores, cut more than 100 jobs and appointed a new chief [...]
Tributes paid to Mike Lynch after tech mogul’s death August 23, 2024 Figures from the business and technology sectors have paid tribute to Mike Lynch after the tech mogul’s death was confirmed on Thursday. Mr Lynch was confirmed to have died aged 59 after a luxury yacht, Bayesian, sank off the coast of Sicily. He was the creator of software giant Autonomy, which grew to become one [...]