Author: Scott Dylan

The debate over proposed reforms to workers’ rights has intensified, with Angela Rayner and Business Secretary Jonathan Reynolds embroiled in a contentious disagreement.The central issue lies in the functioning of probation periods under the new system, which forms part of Labour’s broader agenda to overhaul workers’ rights within the first 100 days of their governance. Angela Rayner advocates for full employment rights, including the ability to bring unfair dismissal claims to employment tribunals, after a brief probation period. Currently, employees need to work for a minimum of two years to qualify for such protections. In contrast, Jonathan Reynolds argues for…

Hovis is leveraging advanced AI technology to enhance its bread manufacturing processes by partnering with IntelliAM AI.The new agreement will see the deployment of AI technology across major Hovis sites in the UK, including locations in East London, Nottingham, and Glasgow.While the exact financial details remain undisclosed, the partnership is valued at over £100,000, extending over a 12-month period.IntelliAM AI, a Sheffield-based firm, specializes in using machine learning for industrial asset management, promising improvements in productivity and cost reduction.This collaboration marks IntelliAM AI’s second major contract in recent months, having previously secured a significant deal with an alcoholic drinks manufacturer.One…

Recent research reveals significant financial impact on West End retailers due to the absence of tax-free shopping for tourists.International visitor numbers to London increased by 3% in early 2024, yet spending fell by nearly 12% compared to 2019.The tax-free shopping removal is identified as a major reason for declining retail revenues, affecting broader tourism sectors.Continental Europe’s tax-free refunds surged by 36% in contrast to the UK’s situation, indicating a shift in tourist preferences.Calls for policy changes, including tax-free shopping reinstatement, emerge from industry leaders as the UK budget approaches.In the first half of 2024, research indicates that retailers in London’s…

Despite a rise in international visitors, London’s retailers are confronting a substantial financial setback this year. The West End is poised to experience an even greater impact than the previously estimated £400 million loss in 2023, attributing this to the removal of tax-free shopping for tourists.The previous Conservative government, under then-chancellor Jeremy Hunt, eliminated tax-free shopping as part of measures to support public finances. However, retailers argue that this move puts the UK at a competitive disadvantage compared to the European Union, where tourists benefit from VAT refunds on qualifying purchases. Dee Corsi, Chief Executive of the New West End…

The Organisation for Economic Co-operation and Development (OECD) has issued a stark warning regarding the UK’s public finances, calling for substantial reforms to address mounting fiscal pressures. In its latest report, the OECD highlights the urgent need for policy changes, including scrapping stamp duty and adjusting the pension triple lock, to mitigate the rising costs driven by health, pension, and climate change expenditures.The OECD, representing 38 advanced economies, raised concerns about the UK’s high debt levels, increasing interest payments, and sluggish economic growth, which collectively exacerbate borrowing costs over time. The warning follows a forecast by the Office for Budget…

Boden’s recovery efforts are gaining traction despite doubling losses.The retailer faced a £9.4m loss in 2023, up from £3.9m the previous year.Sales dropped by 13% to £304.5m, with a downturn seen since 2022.A reshuffled leadership and strategic changes are credited for improvement.2024 shows promising results with increased sales and profitability.In the fiscal year ending December 2023, Boden, a prominent clothing and lifestyle retailer, reported a substantial loss of £9.4 million. This figure is more than twice the losses recorded in the previous year, which stood at £3.9 million. The decline in performance, as reported by Drapers, started in the latter…

As Next approaches the release of its half-year results on 19 September, investors anticipate key insights into the company’s performance.The high street giant reported a 4.4% increase in full-price sales for the first half, raising expectations.Next has maintained its guidance for a 2.5% rise in full-price sales for the second half.In August, the retailer boosted its annual profit forecast by £20 million to £980 million, following significant first-half sales.Analysts from Deutsche Bank suggest that recent trading performance could prompt a forecast upgrade.As Next prepares to disclose its interim results, there is heightened anticipation among investors regarding potential updates to sales…

Netcall has strategically acquired Belgian firm Parble for €10m, marking its European expansion.The acquisition strengthens Netcall’s business processing technology with Parble’s GenAI-powered solutions.This move positions Netcall to increase its presence in the insurance sector and expand its European customer base.Parble reports substantial growth with a 30% revenue increase in 2023, enhancing its appeal as an acquisition target.Netcall CEO welcomes the acquisition as beneficial for both digital transformation and operational efficiency.Netcall has strategically acquired Parble, a Belgian company known for its generative AI-powered document processing solutions, in a €10 million deal. This acquisition is a significant step for Netcall in its…

Retailers in London’s West End face significant financial setbacks due to the withdrawal of tax-free shopping for tourists.Research indicates a loss of £220 million in potential sales in the first half of this year.Despite a rise in international visitors, the financial impact surpasses last year’s £400 million loss.The removal of tax-free shopping benefits has shifted tourist spending to mainland Europe.Ongoing debates continue as government considers fiscal strategies amidst economic challenges.Retailers situated in the prestigious West End of London are grappling with major financial hurdles, as recent findings reveal a staggering £220 million loss in unrealised sales within the initial six…

A new initiative by Accenture aims to bridge the AI skills gap in the UK, focusing on inclusivity.The scheme promises free education and mentorship for individuals across the UK to enhance AI skills.8.5 million UK adults currently lack basic digital skills, risking exclusion from technological advancements.Women and individuals from lower socioeconomic backgrounds are underrepresented in the tech workforce.Industry leaders stress the critical need for digital skills to seize AI opportunities and future-proof the workforce.Accenture has recently introduced an ambitious initiative named ‘Regenerative AI’ to address the longstanding skills gap in artificial intelligence within the United Kingdom. This programme intends to…