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Fashion retailer New Look is preparing to accelerate store closures as a result of Labour’s tax-raising budget, while “Chicken King” Ranjit Boparan battles to pass higher costs on to supermarkets—signalling further pressure on UK businesses across multiple sectors. Around a quarter of New Look’s 364 British outlets are understood to be at risk of closure when leases expire, potentially placing ...
Jeff Bezos is gearing up to launch Amazon’s satellite broadband service in Britain, marking a significant challenge to fellow billionaire Elon Musk. Regulatory filings show Amazon’s Project Kuiper plans to beam internet connectivity from space to UK customers—including businesses and government users—as early as this year, signalling intensifying competition in the nascent but increasingly crowded satellite internet market. Project Kuiper’s ...
Sterling has tumbled to its weakest level since April following stark warnings from an influential survey that Britain may be on the brink of an industrial recession. The pound dropped by 1pc against the dollar on Thursday, slipping below $1.24, amid growing concerns that the UK economy is faltering. In stark contrast, optimism is rising in the United States, where ...
Three quarters of former Conservative MPs who lost their seats at the last election are poised to attempt a comeback, new research suggests. According to a survey by the Conservatives Together group — a network headed by Grant Shapps, the former defence secretary — only 10 of 88 ex-Tory MPs polled ruled out standing again. A further 38 said they ...
Marco Longhi, the former Conservative MP for Dudley North, has joined Nigel Farage’s Reform UK after accusing his old party of having been “captured by a left-wing influence masquerading as conservatism”. He is the third ex-Tory MP to defect to Reform UK since last year’s general election, following Aidan Burley and Dame Andrea Jenkyns. Longhi, who lost his seat in ...
Apple has pledged to pay $95 million (£77 million) to settle a US class-action lawsuit alleging that Siri, its virtual assistant, recorded private conversations without users’ consent. The proposed settlement, filed in a federal court in Oakland, California, comes after a five-year legal dispute and covers tens of millions of Apple device owners. Although Apple denies any wrongdoing, it has ...
Half of the cash balance at Pitch@Palace Global, the commercial arm of the Duke of York’s entrepreneurial platform, has been withdrawn in the space of a year, newly filed accounts reveal. The latest figures from Companies House show that the company’s funds fell from £454,979 to £220,990 in the 12 months to 31 March 2024. The document, signed by sole ...
Retailers and hospitality firms are staring at an unprecedented rise in staff tax bills this year, triggered by Chancellor Rachel Reeves’s decision to increase employer National Insurance contributions alongside an above-inflation hike to the minimum wage. New figures compiled by the Centre for Policy Studies (CPS) show that the annual cost of employing one full-time minimum wage worker will jump ...
House prices in some of London’s most exclusive postcodes are tipped to fall as Labour’s decision to apply VAT on private school fees forces more families to reconsider their housing choices. Property experts predict that homeowners grappling with steeper tuition bills will either downsize, relocate to more affordable areas, or choose state schools, weakening demand in prime residential areas such ...