Author: Sam Allcock

In The Style is navigating through challenging financial times, prompting significant changes.The fashion retailer posted a pre-tax loss of £2.6m for the financial year ending March 31.Sales revenue dropped notably from approximately £46m to £30.4m.The company’s workforce was reduced from 179 to 140 employees to cut costs.Founder Adam Frisby has stepped down amidst these strategic shifts.In The Style, a notable player in the fashion retail sector, is making considerable adjustments amidst ongoing financial challenges. The company reported a pre-tax loss of £2.6 million for the year ending 31 March, a notable reduction compared to the previous year’s loss of £7.7…

Consumer confidence in the UK shows a minor improvement but remains weak, raising concerns over economic activity during the festive period.The GfK consumer confidence index increased by a single point, landing at -17 for December, showing slight positive movement.Public perception of personal finances has improved slightly, with forecasts for the next year moving into positive figures.Major purchases are still viewed cautiously, reflecting consumer hesitation despite stronger Black Friday sales.Frasers Group CFO notes increased uncertainty around economic conditions following recent government budget announcements.Consumer confidence in the UK saw a marginal improvement this December, inching up by one point according to the…

Private equity firm TA Associates is exiting its investment in London-based Auction Technology Group (ATG) by selling its £84.4m stake.TA Associates is divesting its entire 12.6% stake, equating to over 15 million shares, in ATG.The shares are priced at £5.50 each, a 30% decrease from ATG’s IPO share price.The sale leads to the resignation of Morgan Seigler from ATG’s board.ATG has significantly boosted its revenue and profit, despite market fluctuations.Private equity entity TA Associates has embarked on the sale of its investment stake in Auction Technology Group, a company headquartered in London, for a sum of £84.4 million. This transaction…

Aurrigo, a UK-based company, is poised to expand its self-driving vehicle production with a £5m fundraising effort.The company aims to raise funds through institutional and retail investors to boost its Auto-DollyTug production.CEO David Keene anticipates a 450% revenue increase due to rising demand for autonomous baggage carriers.Aurrigo’s revenue rose by 26%, and autonomous division turnover grew 60% in the first half of the year.Despite a recent drop in share prices, Aurrigo’s airport solutions have shown significant market potential.Aurrigo, headquartered in Coventry, is looking to enhance its commercial operations by raising £5m through new shares priced at 44p each. The firm…

Upvest is gearing up for a major UK expansion following a significant funding round.The firm secured £83m in a Series C investment led by Hedosophia.Plans are underway to enhance its London team with 50 additional staff members.The company received FCA approval, allowing UK fintechs to integrate its services.Upvest processed over 20 million client orders this year, solidifying its European leadership.Upvest, a German investment API company, has announced its ambitious plans to expand its footprint in the UK after closing a €100 million (£83 million) Series C funding round. The funding, spearheaded by Hedosophia, reflects strong investor confidence in the company’s…

Boohoo seeks shareholder backing against Frasers Group’s board appointments.Proxy advisors Glass Lewis and ISS advise against Frasers Group’s resolutions.Concerns centre around potential conflicts of interest with Mike Ashley’s board appointment.Boohoo’s financial challenges highlighted, with a 15% revenue drop.Frasers Group’s own financial performance raises questions about its takeover bid.Boohoo has reiterated its position, urging shareholders to reject Frasers Group’s proposed board appointments in the forthcoming general meeting. This stance is bolstered by recommendations from proxy advisors Glass Lewis and ISS, who have both advised shareholders to vote against Frasers Group’s resolutions. Glass Lewis emphasised potential conflicts of interest, asserting that Mike…

eBay UK has initiated a new trade-in service for old technology devices.The programme includes popular gadgets like phones, tablets, and consoles.No initial fees are required to participate in the trade-in scheme.Devices will be inspected and refurbished for resale through eBay’s collaboration with Fonehouse.A £50 incentive is offered for selected trades during a promotional period.eBay UK has launched an innovative trade-in option allowing consumers to recycle their outdated tech while receiving cash. This service caters to a diverse range of devices, spanning eight distinct categories such as phones, tablets, smartwatches, and gaming consoles, without necessitating an upfront fee from participants.Through a…

Recent developments highlight a legislative effort to criminalise deepfake pornography.Baroness Charlotte Owen introduces a Bill addressing legal loopholes on deepfake porn.Victim testimonies reveal the re-traumatisation involved in proving non-consent.Advancements in AI technology have facilitated the growth of non-consensual porn creation.Cross-party support emerges for the Bill targeting online abuse.Baroness Charlotte Owen has taken a significant step in advocating for the criminalisation of deepfake pornography through a new legislative Bill. The Bill, which enters its second reading in the House of Lords, seeks to address ‘gaping loopholes’ in existing laws that do not adequately protect victims of non-consensual deepfake creations.Owen highlights the…

California health officials are actively investigating a potential bird flu case involving a child who became ill after ingesting raw milk. The incident occurred when the child was brought to a medical facility with symptoms of fever and vomiting. Initial tests confirmed the presence of influenza A. Further examinations are being conducted to ascertain if it is indeed the H5N1 strain responsible for the illness.This case has prompted public health warnings regarding the consumption of raw milk and dairy products, which could be potential carriers of harmful pathogens like listeria, campylobacter, and salmonella. Raw milk products from a dairy in…

Retail is on the brink of transformation as 2025 ushers in new eCommerce trends.James Brooke identifies key strategies such as loyalty-driven approaches amidst rising customer costs.Artificial Intelligence is set to revolutionise consumer interactions with innovative shopping agents.Omnichannel strategies are becoming imperative for a seamless customer experience.Data privacy and trust are increasingly becoming competitive edges in the retail sector.As the eCommerce landscape stands at the threshold of significant change, retailers face a crucial juncture in their operations. James Brooke, CEO of Mapp, highlights how advancements in technology, evolving consumer expectations, and economic shifts are redefining the sector. He notes that while…