LVMH is cutting 10% of the workforce at its wine and spirits division, Moët Hennessy, as the group contends with slowing luxury demand, rising costs, and mounting global trade tensions. The job cuts, expected to affect around 1,200 staff, will reduce Moët Hennessy’s headcount to pre-pandemic levels, the Financial Times reported. In an internal briefing, CEO Jean-Jacques Guiony and deputy ...
The UK’s leading manufacturing trade organisation, Made in Britain, has reported a 20% surge in membership applications in the wake of President Trump’s sweeping new tariffs on imported goods, as interest in “buying British” grows among businesses and consumers alike. In the month following the introduction of 10% tariffs on all imported goods from the UK — along with sector-specific ...
NatWest has reported a sharp rise in quarterly profits, delivering a boost to investors and taxpayers alike as the UK government prepares to fully exit its stake in the lender more than 15 years after its financial crisis bailout. The FTSE 100 bank, formerly Royal Bank of Scotland Group, said pre-tax profits rose 36% year-on-year to £1.8 billion in the ...
Fast-fashion giant Shein has quietly paused its plans for a high-profile flotation on the London Stock Exchange, following mounting geopolitical pressure from President Trump’s aggressive tariff regime and broader trade tensions with China. The Chinese-founded, Singapore-based retailer has ended contracts with UK corporate communications firms Brunswick and FGS Global, who had been advising on the IPO, The Times has reported. ...
Swedish fintech giant Klarna has hit a major milestone in the UK, surpassing 11 million active customers and reporting 30% revenue growth in 2024, making the UK its third-largest market globally. The AI-powered payments and commerce network has also doubled its UK merchant base to 60,000, partnering with high-profile brands including Argos, eBay, Eurostar, and John Lewis, firmly cementing its ...
A storm is brewing in the iGaming world, and at its eye stands a familiar name — Andres Markou, the founder and CEO of MyStake.com, a fast-rising online casino that now finds itself under intense legal and media scrutiny. What began as an unassuming career move may now evolve into one of the most explosive legal battles in the industry’s ...
An estimated £2.7 billion is wagered annually with unlicensed online betting sites in the UK, according to a survey commissioned by the Betting and Gaming Council (BGC). The report, conducted by Frontier Economics, revealed that this figure accounts for around 2.1% of the £128 billion bet with regulated online operators. While this may seem like a relatively small proportion, the ...
In the fast-paced digital environment of today, financial institutions — whether traditional banks, fintech startups, or e-commerce marketplaces — are under increasing pressure to provide payment experiences that are seamless, secure, and flexible. Consumers seek short and intuitive payment paths; however, businesses require a robust backend infrastructure that can scale quickly. This is where white-label payment solutions — specifically a ...
Tesla has initiated a search for a new CEO, marking a pivotal moment for the electric vehicle giant as it grapples with a sharp downturn in profits, declining sales, and growing backlash over Elon Musk’s controversial involvement in politics. The move follows weeks of investor unrest and a steep 71% drop in first-quarter profits, with earnings falling to $409 million, ...
Business confidence in the UK has climbed to its highest level since before last autumn’s budget, buoyed by President Trump’s decision to delay the full implementation of his reciprocal tariff regime, according to the latest survey from the Institute of Directors (IoD). The organisation’s economic confidence index rose from -58 in March to -51 in April, reaching its highest point ...