News

RBS Profits Slump After PPI Bill

The Royal Bank of Scotland has published new figures that show the bank took a significant dip and made a loss over the third quarter after what has been viewed as a punishing response to PPI repayments. Pre-Tax Loss The Scottish bank, in which the UK government owns a majority 62% stake, made a pre-tax […]

High Street Woes Continue With Bonmarché Appointing Administrators

The UK high street has been dealt another blow as Bonmarché, the women’s fashion chain, announces it has appointed administrators. The future of the company remains in doubt with up to 2,900 potential job losses in the UK at 318 stores. The blame for the loss of one of the most recognisable high street stores […]

Uber Launches New App For ‘Gig Economy’

Ride-share company Uber have this week announced that they plan to launch a brand new app that targets employees in the gig economy sectors looking for their next job. Uber Works will create a platform for workers in ‘gig’ sectors, including cleaners, bartenders and waiters, and allow them to apply for jobs and compare pay […]

Thomas Cook Collapse: Big Blow For Historic British Business

The oldest travel company in the world bit the dust in the early hours of 23 September, leaving around 600,000 holidaymakers stranded overseas. We’d already reported on the difficulties experienced by Thomas Cook in a recent post, however, the collapse of the travel firm came as a shock to consumers, employees, and investors alike. About […]

UK Government Announce 12 New Clean Energy Projects

New wind power projects that will be able to supply power to over 7mn homes were announced by the UK government on 20 September. The government says that these wind farms will generate electricity without any requirement for government subsidies and these projects are a breakthrough for renewables as they will be launched at costs […]

Next Share Price Plummets

Fashion retailer Next has blamed a sudden plummet in share prices on ‘warm weather’, which they believed caused decreased sales of their stock over the last quarter. The latest official data, released by the company in September, suggests that Next’s sales fell significantly in the second quarter, adding their name to an already lengthy list […]

Inflation Surprise Hits British Pound

On Wednesday 18 September the Office for National Statistics (ONS) announced that UK inflation has dropped to its lowest level since December 2016, with the Consumer Price Index (CPI) rising by 1.7% year-on-year in August. This defied economist predictions, which expected a dip to 1.9%, down from 2.1% in July. This sharper-than-expected fall has had […]

Crypto Investors Distraught By $10bn Drop In Bitcoin Value Over Course Of Just 30 Minutes

It seems analyst and investor hopes of a forthcoming upsurge in Bitcoin and other cryptocurrency prices could have been misplaced, as Bitcoin values dropped by $600 (£494) in just 30 minutes on Wednesday, 28 August 2019. The cryptocurrency markets have been extremely volatile through 2019, and this latest Bitcoin crash has caused a rethink about […]

Greene King Brewery And Pubs Business Sold To Hong Kong Buyer

Interested market observers may have wondered why Greene King shares increased by more than 50% in mid-August, the reason is because Hong Kong-based business giant CKA has taken over the business. Greene King is a major player in the UK’s brewery, pubs and restaurant sector, owning about 2,700 pubs, hotels and restaurants. The takeover gives […]

Turkish Pension Firm to Buy British Steel

British Steel, the doomed company that has been struggling to overcome its declaration of insolvency, has tentatively been bought by Turkey’s military pension fund. Jobs Saved In a deal announced in August, the Turkish Armed Forces Assistance Fund plans to buy the company out, potentially saving the jobs of around 5,000 people in its central […]

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