Author: Scott Dylan

Recent reports indicate significant job cuts at Burberry, affecting as many as 400 positions.Burberry’s profits have sharply declined, with a 34% decrease in adjusted operating profit to £418 million for the fiscal year ending March 2024.The brand’s restructuring plans, announced in late June, include potential redundancies for UK staff due to financial pressures.Burberry’s stock market value has plummeted by over a third this year, risking removal from the FTSE 100.Asia Pacific sales, particularly in China, have significantly decreased, contributing to the brand’s struggles.British luxury brand Burberry is reportedly considering significant job cuts, with up to 400 positions at risk, primarily…

Chancellor Rachel Reeves addressed the nation on Labour’s housebuilding initiatives, targeting enhanced living standards and economic growth.Labour will reinstate local housebuilding targets and ease planning restrictions on certain green belt areas.A new National Planning Policy Framework will enable onshore wind turbines and is set to be released before the August recess.Reeves criticised the previous government’s economic record, highlighting missed opportunities for growth.Labour aims to build 1.5 million homes during this parliamentary term to tackle the housing crisis.In her inaugural speech at the Treasury, Chancellor Rachel Reeves stressed the urgency of Labour’s initiatives to improve living standards and stimulate economic growth.…

Leading business groups urge the new Labour government to prioritise economic growth and investment.The Confederation of British Industry (CBI) stresses the importance of early and decisive action to attract investors.The British Chambers of Commerce (BCC) calls for a long-term economic plan centred on green transition and workforce readiness.A survey by KPMG and the Recruitment and Employment Confederation (REC) highlights a significant rise in permanent pay rates.Former Bank of England Governor Mark Carney leads a task force to create a national wealth fund aimed at economic stimulus.In his inaugural press conference as Prime Minister, Keir Starmer committed to chairing new ‘mission…

Avon UK has made a significant move by appointing Sara Davies, celebrated for her role on Dragons’ Den, as their Chief Inspiration Officer. Her role will be pivotal in empowering women entrepreneurs across the UK.Sara will lead masterclasses and mentoring sessions aimed at helping Avon Representatives overcome business challenges, reflecting her commitment to supporting women in their entrepreneurial journeys.Sara Davies Appointed as Chief Inspiration OfficerDragons’ Den star Sara Davies has recently taken on the role of Chief Inspiration Officer at Avon UK. This appointment is part of an initiative to support women in their entrepreneurial pursuits, helping them to overcome…

Jeff Bezos has announced plans to sell $5 billion worth of Amazon shares following the stock’s unprecedented rise to $200.43 during recent trading sessions.This proposed divestiture involves 25 million shares and comes in the wake of a significant rally where Amazon’s stock has surged over 30% this year. This performance starkly contrasts with the modest 4% gain in the Dow Jones Industrial Average index. Despite this sale, Bezos will maintain ownership of approximately 912 million Amazon shares, which represents 8.8% of the outstanding stock.This move is not entirely unprecedented for Bezos. In February, he sold shares amounting to around $8.5…

Protests have erupted at Amazon warehouses across the UK as workers begin casting votes in a historic ballot to force the company to recognise a union for the first time.Demonstrations are occurring throughout England, Wales, and Scotland, while workers at Amazon’s Coventry warehouse cast the initial votes to mandate union recognition. A separate rally outside Amazon’s London headquarters will include TUC Assistant General Secretary Kate Bell, who will stand in solidarity with Amazon employees and supporters.This voting process marks the culmination of a three-week period in which union representatives were granted access to Amazon’s Coventry fulfilment centre by the Government’s…

The share prices of major UK housebuilders surged following Labour’s significant victory in the general election.Builders like Vistry, Persimmon, Taylor Wimpey, Barratt, and Berkeley saw their shares increase by 2-3%.Labour focused its campaign on addressing the housing supply crisis, pledging 1.5 million new homes.The party also committed to planning system reforms to speed up development processes.Ongoing challenges in the mortgage market and high interest rates add complexity to the housing landscape.Shares of leading UK housebuilders such as Vistry, Persimmon, Taylor Wimpey, Barratt, and Berkeley experienced an increase of 2-3% after Labour’s resounding victory. This reaction in the stock market comes…

Etsy’s recent ban on sex toys and other explicit items has caused a significant stir among its sellers. The new rules, effective from 29 July, are leaving many merchants scrambling for alternatives, feeling blindsided by these abrupt changes. Sellers argue that this move threatens their livelihoods and accuse Etsy of betraying their long-standing commitments.New Regulations and Their ImplicationsThe updated policy will prohibit a range of explicit products, including sex toys designed for insertion, pornographic materials, and items modelled by humans displaying intimate body parts. According to Etsy, these changes are driven by evolving industry standards and the need to maintain…

Chancellor Rachel Reeves has successfully garnered substantial support from investors for her ambitious growth agenda. The first female Chancellor seeks to channel private investment into crucial infrastructure and green energy projects.This strategic shift towards private funding aims to reduce public debt dependency and restore economic stability in the UK.Private Sector Embraces Reeves’ VisionKey investment players, including Macquarie, Blackstone, and Middle Eastern investors, have shown strong backing for Chancellor Reeves’ vision. Paul Plewman of Macquarie praised Labour’s approach, highlighting it as a conducive platform for robust public-private partnerships. James Seppala of Blackstone identified the UK as their primary European market, lauding…

Keir Starmer has reinvigorated his ministerial team by appointing a blend of former New Labour figures and external experts.Senior ministers from the New Labour era, like Douglas Alexander and Jacqui Smith, have been appointed to key roles.Patrick Vallance, the former chief scientific adviser, was named science minister.Businessman James Timpson was appointed as prisons minister.Richard Hermer, an international law expert, was named attorney general, replacing Emily Thornberry.On Saturday night, Starmer made strategic appointments that included prominent figures from the New Labour era. Douglas Alexander, who returned as an MP, was appointed as a trade minister and a business minister, and Jacqui…