Author: Sam Allcock

The British Retail Consortium (BRC) has highlighted potential challenges as shop prices might cease to decline due to recent budget adjustments.Data indicates that shop prices fell by 0.6% in November, an increase from a deflation rate of 0.8% seen previously, suggesting a slowing down of price reduction.The retail sector is bracing for significant cost increases due to changes in National Insurance Contributions set for April.Over 70 major retailers have expressed concern about the inability to absorb additional costs, hinting at a probable rise in inflation.Industry leaders urge the government to reconsider the timelines for new levies to mitigate the impact…

OTAQ has announced its intention to delist from the Aquis Exchange, citing several key concerns.The company argues that the costs and regulatory burdens of maintaining its listing outweigh the benefits.OTAQ is the latest in a series of tech firms choosing to leave the UK markets this year.A general meeting set for December 10th will determine the final decision through shareholder voting.The potential delisting reflects broader issues facing smaller tech firms in the public market.The board of OTAQ, a maritime technology group based in Lancaster, has advanced a proposal to delist from the Aquis Exchange, expressing concerns over the adverse effects…

Monzo, a prominent figure in digital banking, has welcomed a former Nubank executive as its new Group CFO, aiming at global growth.Tom Oldham, previously associated with Mombak, steps in following the exit of James Davies, who now serves as CFO at OVO.The strategic appointment aligns with Monzo’s ambitions to expand into European and US markets, leveraging Oldham’s expertise.Furthermore, Monzo has appointed Mark Newbery, ex-Barclays, as UK CFO to fortify its domestic financial operations.With impressive past performance, Monzo is set on transforming the banking landscape by integrating advanced technology and customer-centric strategies.Monzo, a leading name in the digital banking sphere, has…

Topps Tiles has reported significant financial losses amidst a market slowdown, with sales volumes significantly below pre-pandemic levels. The company announced a statutory pre-tax loss of £16.2 million over the past financial year, compared to a profit of £6.8 million the previous year.Adjusted profits for Topps Tiles have decreased by half, standing at £6.3 million in contrast to earlier figures.Revenue faced a downturn, declining 4.1% to £251.8 million, with a marked decrease in like-for-like sales at Topps.Sales to trade customers showed more resilience compared to those to homeowners, increasing the trade sales share from 59.6% to 62.8%.Topps Tiles has encountered…

Recent changes in inheritance tax regulations have ignited a wave of unrest among UK farmers, with many viewing the policy as a threat to family-run establishments. The government maintains that only a minority will be affected. The ensuing debate reflects the broader tension between economic policy and agricultural sustainability.Farming communities are mobilising to voice dissent, with planned protests capturing national attention. Amid these tensions, government officials are keen to underscore that comprehensive measures are in place to safeguard the nation’s food supply. This complex issue has become a focal point for discourse on rural policy and economic strategy.Farming Community Voices…

The world of dating has witnessed a shift. As digital fatigue sets in, more are turning to alternative avenues for connection. Running clubs, once purely fitness-focused, now play a dual role, acting as vibrant communities where relationships thrive. Amidst the pavements and trails, personal connections are born.The allure of these clubs transcends the desire for physical fitness alone. They serve as catalysts for social engagement, offering runners a unique blend of exercise and companionship. Within these spaces, shared interests evolve into friendships, and often, something more. For many, the question is no longer ‘Will I get fit?’, but rather ‘Who…

City Minister Tulip Siddiq asserts the permanence of cryptoassets, emphasising the impending regulatory framework.Regulatory progress for cryptoassets is ongoing despite recent quiet periods, according to Siddiq.The UK government plans to follow previous administration’s crypto regulation proposals.Stablecoin regulation remains a complex topic, with distinct approaches outlined by Siddiq.The Financial Conduct Authority continues to express caution regarding crypto investments.City Minister Tulip Siddiq has reinforced the government’s view that cryptoassets are an enduring element of the financial landscape. Speaking at the Tokenisation Summit, she highlighted the ongoing work behind the scenes to establish a regulatory framework for these digital currencies. Despite the seeming…

Recent proposals suggest forcing Google to sell its Chrome browser.Tom Blomfield criticises competition regulators’ approach to Google’s business structure.The former Monzo CEO questions the need for increased regulation.Blomfield highlights the consumer benefits provided by Google services.UK regulators have also scrutinised Google and Monzo in separate instances.Last week, the US Department of Justice floated a significant change to Google’s business model, pushing for the divestiture of its widely used Chrome web browser to curb Google’s alleged monopoly. This suggestion has sparked commentary from Tom Blomfield, co-founder of the digital bank Monzo, who voiced his opinions robustly on social media, describing competition…

Boohoo Group recently secured lender approval for its fundraising initiative, aiming to revitalise the business and enhance shareholder value.The company plans to raise up to £39.3 million through a share issue to support its turnaround strategy following a significant pre-tax loss.CEO Dan Finley emphasised the importance of this fundraising move as part of Boohoo’s broader business review.Chair Tim Morris expressed gratitude to the banking syndicate for their continued support, essential for unlocking shareholder value.This development emerges amidst ongoing tensions with major shareholder Frasers Group, who are pushing for leadership changes at Boohoo.In a recent announcement, Boohoo Group confirmed that it…

Purchasing secondhand items as gifts is becoming increasingly popular across the UK during the festive season.Research by Vinted and Retail Economics forecasts a £2.05bn expenditure on pre-loved gifts this Christmas.Secondhand items are expected to represent 10.2% of the entire UK Christmas gift market for 2024.Younger consumers, aged 18-45, are leading this trend, buying used items regularly to save costs and embrace sustainability.The cost-of-living crisis and environmental awareness are pivotal factors in the rising trend of pre-loved gift giving.The growing popularity of secondhand gifts in the UK is transforming holiday shopping habits, as consumers become more mindful of their expenditures and…