Author: Scott Dylan

Labour has decided to abandon the ‘British Isa’ scheme initially intended to promote investment in UK stocks. The decision comes amid concerns over the complexity it would introduce into the market.The initiative, announced by former Chancellor Jeremy Hunt, aimed to offer tax-free allowances to bolster domestic stock investments but faced significant criticism from industry players and investment platforms.The Initial ProposalThe ‘British Isa’ was originally unveiled in the March budget by then Chancellor Jeremy Hunt. It was designed to provide a tax-free allowance of up to £5,000 in UK shares, in addition to the existing £20,000 Isa allowance. This proposal sought…

Fentimans, the historic soft drink maker, has issued a grave warning that proposed glass tax reforms could force it to close after 120 years of business.The tax, part of an “extended producer responsibility” initiative by the Department for Environment, Food and Rural Affairs (Defra), is projected to add an estimated £300 per tonne to the cost of recycling glass. Ian Bray, CEO of Fentimans, has expressed serious concerns about the implications for small businesses. He stated, “Fentimans has been selling quality soft drinks since 1905. It would be tragic if this inequitable policy destroyed our business after 120 years just…

The UK’s private sector economy advanced more robustly than anticipated in August. This performance was marked by a series of key economic metrics.The S&P Global composite purchasing managers’ index (PMI) climbed from 52.8 in July to 53.8 in August, surpassing expectations.Services sector saw accelerated growth with its PMI rising to 53.7, and the final manufacturing PMI stood at 52.5.Economic stability post-general election and potential interest rate cuts by the Bank of England spurred consumer spending.Despite positive growth, businesses are cautious due to potential tax hikes in the upcoming Labour budget.The UK’s private sector economy experienced a notable uptick in August,…

Marks & Spencer has outlined its strategic enhancements to its digital operations, aiming to bolster its clothing and home market share.The retailer aims to increase its online sales proportion to 50% by 2028, currently at 32%, up from 22% five years ago.Recent improvements include faster page loading times and the use of AI in product descriptions, improving customer experience.The Sparks app sees increased engagement, with 44% of online sales and 5 million users participating in personalised quizzes.M&S’s digital sales and strategic investments have driven a 5.3% rise in clothing and home sales, with adjusted profits rising by 21%.In an ambitious…

The Internet Archive has lost its appeal to lend out digitized books. The federal appeals court sided with four publishers, who accused the nonprofit of copyright infringement.This decision represents a significant setback for the Internet Archive, which has been embroiled in legal disputes regarding its digital library for years. The ruling could have substantial implications for the future of digital book lending.Court Ruling Against the Internet ArchiveThe Second Circuit Court of Appeals ruled against the Internet Archive, stating that permitting its digital library would ‘allow for widescale copying that deprives creators of compensation and diminishes the incentive to produce new…

Haider Ackermann has been named the new creative director of Tom Ford, a brand under Estée Lauder.Ackermann’s debut show will feature in the autumn/winter 2025 Paris Fashion Week.Tom Ford has expressed admiration for Ackermann’s design philosophy and skills.The appointment follows Peter Hawkings’ sudden departure from the brand in July 2024.Ackermann previously shuttered his label in 2020 and has been involved with Canada Goose and Jean Paul Gaultier.Haider Ackermann, the renowned French designer, has been officially appointed as the creative director of Tom Ford, a luxury brand owned by Estée Lauder. This significant move is set to bring Ackermann’s distinct design…

The retail industry is abuzz as Aldi appeals to Keir Starmer to expedite planning permissions. The popular grocery chain faces significant delays in its expansion efforts due to local council bottlenecks.Amidst these complications, Aldi’s push highlights broader issues within the sector, with many retailers expressing similar frustrations over planning regulations.George Brown, Aldi’s national real estate director, has recently engaged with a senior special adviser to the Prime Minister. This meeting aims to align Aldi’s goals with the Government’s agenda to stimulate economic growth and promote construction projects. Brown voiced his concerns on LinkedIn, pointing out that obtaining planning consent for…

Oxford Economics has issued a stark warning regarding Labour’s proposed non-dom tax reforms, highlighting potential economic consequences.The reforms, set to take effect from April 2025, shorten the tax exemption period from 15 years to four.The Office for Budget Responsibility initially projected an annual revenue increase of £3 billion, though estimates are uncertain.Oxford Economics projects a 32% reduction in the non-dom population, equating to a £0.9 billion revenue loss by 2029-30.Concerns centre around the impact on investments and inheritance tax changes, potentially driving wealthy individuals to leave the UK.Labour’s proposed non-dom tax reforms, effective from April 2025, intend to reduce the…

Burberry has announced key leadership changes to enhance its global operations.Jonathan Kiman takes on the role of Chief Marketing Officer, transitioning from Gucci.Laura Dubin-Wander steps in as President, Americas, bringing a wealth of experience.These strategic appointments aim to bolster Burberry’s market position.Burberry faces challenging times, including recent revenue slumps prompting leadership shifts.Burberry, the esteemed British luxury brand, has made significant appointments to its senior management team, reflecting a strategic focus on strengthening its global operations. The company announced the induction of two pivotal figures to support its growth strategy and operational efficiency.Jonathan Kiman joins Burberry as the Chief Marketing Officer.…

Spanish fashion retailer Mango is bolstering its online presence.Mango has appointed Marlies Hersbach as its ecommerce executive director.The retail giant plans to expand its online operations into 12 new markets.These new markets include several countries in Africa as well as New Zealand.Mango’s strategic plan aims for revenue over €4bn by 2026.Spanish fashion retailer Mango has made a significant move to enhance its digital footprint by appointing Marlies Hersbach as its new ecommerce executive director. Hersbach, who previously held the position of international retail director for Mango in France, will now take on the crucial role of developing and executing Mango’s…