Tech rout continues as Yahoo staff cull adds to over 30,000 job losses in sector this year February 10, 2023 Yahoo has become the latest tech giant to announce huge job losses, as the cost of living crisis forces digital advertisers to reign back on their spending. The American web provider said it was axing over 20 per cent of its entire workforce, with the cuts expected to make 1,600 current workers redundant, including 1,000 [...]
Ryanair’s profits ‘will rise’ as recession forces passengers to opt for cheaper fares January 5, 2023 Low-cost airline Ryanair has raised its profit guidance for its full year 2023 to between €1.32bn (£1.16bn) and €1.42bn (£1.25bn). This is a 25 per cent boost on its initial range of between €1bn and €1.20bn. Analysts at Liberum raised Ryanair’s forecast after a better than expected third quarter; Ryanair carried 11.5 million passengers in [...]
King’s Speech: From no-fault evictions to having a pet, here’s what Labour’s Renters’ Reform Bill will do July 17, 2024 Labour’s Renters’ Reform Bill will introduce significant changes to rented housing in England and Wales, including on no-fault evictions and having a pet. Legislation will be introduced “to give greater rights and protections to people renting their homes”, including “ending no-fault evictions and reforming grounds for possession”, King Charles said. The bill started life under [...]
Court of Appeal overturns VAT obligation to taxi fares in Uber case July 15, 2024 Court has overturned a landmark ruling that for all private hire journeys outside of London should be paying VAT, a ruling that will be seen as a win for the taxi industry
SMEs crushed by lack of funding as MPs scrutinise lenders on borrowing November 1, 2023 One in ten small and medium-sized businesses (SMEs) that have struggled to access financing eventually folded, according to a survey of 500 business leaders, as MPs scrutinise the sector's lenders.
Strike! Ten Entertainment bucks hospitality trend with ‘record-breaking’ sales year January 11, 2023 Bowling alley operator Ten Entertainment delivered a “record-breaking” year, with sales up almost 90 per cent on 2021 and 50 per cent on pre-pandemic levels. The firm, which operates 48 bowling and social entertainment venues, reported a total sales increase of 87 per cent from 2021, in wake of the pandemic restrictions being lifted. It [...]
UK’s largest nightclub operator Rekom owed over £120m as it collapsed into administration and cut 470 jobs February 19, 2024 The UK's largest nightclub operator owed more than £120m as it collapsed into administration and cut almost 500 jobs before a rescue deal was agreed.
The City View: Ofgem revamp could mean fourfold energy price rise in 2022 May 16, 2022 Today Andy Silvester talks to City A.M. reporter Sascha O’Sullivan, who unpicks Sadiq Khan’s efforts in America to promote London as a global hub for investment, and goes through the mounting pressure that Rishi Sunak is facing as the cost of living crisis worsens. And in the news: shares in Greggs and MADE.com have dipped, [...]
‘Lavish’ spending culture of government ministers including £345,000 ‘restaurant and bar’ bill revealed February 13, 2023 Ministers are accused of overseeing a “lavish spending” culture in Whitehall with taxpayers’ money wasted on luxury items, after Labour analysis of government procurement cards. Concerns were raised over alcohol and dining purchases by the Labour Party including almost £345,000 by foreign office officials in 2021 under the heading “restaurants and bars”, as well as [...]
On the 200th birthday of the pint and after Euro 2024, let’s pour beer duty down the sink June 17, 2024 As you’re enjoying the Euro 2024 Championships in Germany don’t forget how much the taxman is hitting each and every pint you drink. So on the 200th birthday of the pint measurement it is time the political parties help us all out, on both sides of the bar, writes Emma McClarkin OBE, British Beer and [...]