Staycation spending on the up as Britons opt for home-bound holidays August 26, 2016 Domestic holidaymakers are shelling out more on their UK staycations, new research from Barclays Business shows. The average spend on trips in the UK has grown six per cent in the last year to £22.1bn, at £613 per party, up from £575 in 2015. Londoners were willing to fork out more to stay in the [...]
This seaside resort has benefited the most from the UK’s staycation boom this summer August 24, 2016 Britain's most famous seaside resorts benefitted from the booming trend in staycations this summer, according to research from Epos Now, as they were bolstered by the fall in the pound after June's Brexit vote. Brighton topped the bucket and spade charts, with a 12.8 per cent revenue rise recorded by hospitality businesses between 17 July to 17 August compared to [...]
Week ahead: Fashion retailers and builders are in the spotlight July 11, 2016 Alongside the Bank of England’s first meeting after the UK voted to quit the European Union it will be a busy week of corporate numbers. Bank of England officials announce their monetary policy decision on Thursday and many economists are expecting a loosening of interest rates. The FTSE 100 rose to its highest level in [...]
Falling ill on holiday could cost you as much as a house, the Association of British Insurers warns August 11, 2016 The high cost of overseas medical bills means falling ill abroad could cost double the amount of an average UK house. Insurers are now processing claims from more than 3,000 British travellers per week who require emergency medical care while abroad, according to the Association of British Insurers (ABI). While the average travel insurance claim [...]
Begbies Traynor hurt by decline in insolvencies July 14, 2015 BUSINESS recovery and advisory firm Begbies Traynor suffered a fall in annual profits after an improvement in the UK economy led to the lowest level of corporate insolvencies since the financial crisis. Adjusted profits before tax fell by a third to £3.6m in the year to 30 April compared with £5.4m the previous year. Total [...]
Spike in level of UK firms in balance sheet trouble ahead of Brexit vote April 15, 2016 The number of businesses suffering financial distress leapt 20 per cent in the last year, according to analysis by insolvency firm Begbies Traynor. More than 274,000 firms across the UK were either behind on their debt repayments in the first quarter, or had experienced a “marked deterioration” in their financial health since the start of [...]
English football clubs have never been in better financial health, says study April 4, 2016 English football clubs have left their overspending days behind them and have never been in better financial shape, according to a new study by insolvency firm Begbies Traynor. Increasing revenues from television contracts allied with so-called financial fair play rules, which have forced clubs to live within their means, have slashed the number of teams [...]
John Lewis Partnership considers further reforms to staff benefits as squeeze on retailers tightens November 4, 2016 High street stalwart the John Lewis Partnership is considering further curbs on staff benefits as it becomes the latest retailer to fight back against soaring costs for the sector. Documents seen by City A.M. suggest the escalating national living wage could cost the John Lewis Partnership an additional £171m in 2020. Between 2015, when the [...]
National Living Wage to cost businesses £11bn by 2020, report warns May 4, 2016 Businesses will have to stump up much as £11bn in extra wage costs over the next four years to meet the chancellor's National Living Wage (NLW) target of £9 per hour, new research has warned. The report, by property firm Bilfinger GVA, estimates that the new hourly rate of £7.20 per hour for over 25 year olds will cost businesses around [...]
Nearly 60,000 companies hit by National Living Wage already in “significant financial distress”, insolvency firm warns April 20, 2016 The National Living Wage (NLW) risks tipping thousands of vulnerable companies over the edge as they struggle to absorb higher staff costs, one of the UK’s leading insolvency firms has warned. More than 1.8m workers were given a pay rise on 1 April after a new minimum wage came into force, requiring employers to pay at least £7.20 per [...]