Hotel Chocolat’s profits surge following brand appeal increase in key markets March 2, 2022 Chocolate brand Hotel Chocolat has registered a surge in profits following a brand appeal increase in key markets like the UK, Japan and the US. In the 26 weeks ended 26 December, the group’s profit before tax was up 56 per cent to £24.1m, while the underlying EBITDA grew 35 per cent, from £24.9m to [...]
Savile Row tailor placed into liquidation as quest for buyer fails January 4, 2022 The parent company behind London’s iconic men’s tailor Gieves & Hawkes has been put into liquidation after failed attempts to woo potential buyers. FTI Consulting and R&H Services have been appointed as joint liquidators for the 250-year-old brand, alongside its sister brands Kent & Curwen and Cerutti, according to The Times newspaper. The newspaper reported [...]
Verdict: Bank of England to keep hiking rates to chase historic inflation spike May 5, 2022 The Bank of England will keep hiking interest rates this year in a bid to chase down the highest inflation crunch since the early 1980s. That’s according to City economists, business groups and think tanks who took today’s decision to lift borrowing costs to their highest level since 2009 as a sign of things to [...]
Brexit-proof: London races ahead of all European tech rivals as record 18,500 new startups flock to the capital April 28, 2022 The number of new tech companies incorporated in London jumped 94 per cent last year, it has emerged. A total of 18,549 tech businesses were incorporated in London in 2021, according to an analysis of data held by Companies House, up from 9,572 in 2020. London accounted for the highest number of incorporations in 2021, [...]
Brits scrambling for early Christmas presents boosts credit lending to 16-month high January 4, 2022 Brits scrambling to get their hands on Christmas presents early to avoid shortages boosted credit card spending to a 16-month high, reveal official figures released today. Households in the UK took on £1.2bn in net consumer debt in November, the highest level in nearly a year and a half, according to the Bank of England. [...]
Economic green shoots to coax Bank of England into steepest rate rise since independence July 13, 2022 Signs of green shoots in the UK economy will encourage the Bank of England to launch the steepest interest rate hike since it was made independent 25 years ago. Stronger than expected growth in May suggests the economy can absorb higher interest rates without falling into recession, known as a “soft-landing,” according to City analysts. [...]
‘Britain is back in business’: Covid-19 tests for vaccinated travellers scrapped January 24, 2022 Fully vaccinated travellers flying into England will no longer require Covid-19 tests, Boris Johnson has confirmed. The government had been due to review the pandemic travel rules, amid calls from the aviation industry to cut curbs. Chief executives at Ryanair, Easyjet, British Airways, Virgin Atlantic and Jet2 have sought assurance from government today that it [...]
Ofgem boss: Hike in household energy bills ‘almost inevitable’ March 8, 2022 Ofgem boss Jonathan Brearley has warned a further painful hike in household energy bills is “almost inevitable."
Bank of England to launch another jumbo rate hike to tame over 10 per cent inflation August 17, 2022 The Bank of England is set to launch a series of jumbo rate hikes to tame inflation that is beginning to be driven by domestic factors, City economists warned today. Prices climbed 10.1 per cent annually in July, the fastest acceleration since February 1982 and much higher than the Bank and analysts’ forecasts, according to [...]
UK inflation scales to 41-year high, but analysts bet it has peaked at 11.1 per cent November 16, 2022 UK inflation has surged above the City and Bank of England’s expectations to reach a new 41 year high, but experts said it may now have peaked, official figures revealed today. Prices rose 11.1 per cent over the last year, pushing the rate a whole percentage point higher from September, according to the Office for [...]