Small businesses face ‘wild west’ from big three mobile providers, report warns November 28, 2018 Small and medium-sized businesses in the UK are overpaying for mobile bills by £1bn due to a lack of competition in the market, a report has warned. Research by price comparison website Billmonitor estimates 49 per cent of UK businesses are paying more than twice what they should be for mobile services from EE, Vodafone [...]
Domino’s Pizza trims profit guidance despite UK sales growing in summer heatwave October 18, 2018 Domino's Pizza sales grew by six per cent year-on-year across the UK and Ireland this summer despite the hot weather, it revealed today, but the fast food brand also cut back its full year forecast for pre-tax profits. Online sales were up by 11.4 per cent – comprising 78 per cent of total sales in the period [...]
Britons’ income from work surged in August as low unemployment made its mark August 20, 2018 Britons’ work income rose at its fastest pace on record in August, as historically low levels of unemployment helped household finances cope with inflation pressures. Data from IHS Markit’s published today showed the tenth consecutive month of employment income gains, in spite of an increase in the feeling of job insecurity. The figures will be [...]
London business confidence rises to highest since Brexit referendum July 10, 2018 London’s businesses are more confident than at any time since the 2016 Brexit vote, according to new figures to be published today. The balance of firms in the capital reporting they are optimistic about the prospects for their firm rose to zero per cent in the second quarter – a 10-point quarterly increase – the [...]
Unilever’s board has now lost the Lynx effect with UK investors, a new era for spin city and a hand from above October 5, 2018 How ironic that one of the world’s great consumer marketing machines – responsible for brands like Lynx, Persil and Magnum – should be making such a hash of a sales pitch to its own investors. Unilever’s insistence that it remains “confident” of winning this month’s vote to scrap its British headquarters sounds more strained by the [...]
Debenhams’ Christmas sales slip as it continues talks with lenders over its future January 10, 2019 Sales at troubled department store chain Debenhams dived over Christmas, its latest trading update revealed today, sending its share price even lower. In the 18 weeks to 5 January like-for-like sales fell 5.7 per cent compared to the same period last year. Read more: These are the high street retailers that collapsed in 2018 The [...]
Airbnb reveals its UK tax bill amid Tory calls for a digital services tax October 2, 2018 Airbnb paid just shy of £600,000 in UK tax last year, City A.M. can reveal, as chancellor Philip Hammond raises calls for a unilateral digital services tax on tech firms. In financial accounts seen by City A.M. and due to be published on Companies House later this week, Airbnb paid just £596,992 in corporate tax in the year [...]
Eager for a house price fall? It’s time for a lesson in economics January 15, 2019 Would it be a good thing if house prices in the UK fell? The British public, a host of commentators on Twitter, and even some economists seem to think so. A recent YouGov poll asked Britons whether a 30 per cent fall in property values after Brexit would be a “bad thing”. Just 32 per [...]
Boeing’s Ethiopian Airlines crash fallout: Everything you need to know March 13, 2019 The world's biggest plane manufacturer is up against the ropes. After the second fatal crash of one of a new Boeing plane model over the weekend, fingers are being pointed and whole continents have banned it from entering their airspace. As the fallout for businesses and consumers across the globe continues to ramp up, City A.M. brings you [...]
Mortgage approvals drop as housing activity slump shows little sign of picking up August 24, 2018 Mortgage lending dipped in July, despite an uptick in homeowners seeking cheaper interest rates ahead of the Bank of England rate rise earlier this month. Approvals for mortgages fell 4.3 per cent year-on-year in July, having risen to a nine-month high in June, in a fresh sign that housing activity in the UK's property market [...]