Author: Scott Dylan

The recent increase in the minimum wage has had significant implications on summer job hiring, affecting several key sectors. New data illustrates a marked decline in seasonal job postings.Employers are cutting back on seasonal hires due to concerns about labour shortages and increased wage costs.Data from the REC shows a significant drop in temporary summer job postings in April and May compared to the same period last year.The hospitality, tourism, and construction sectors are the most affected, with substantial reductions in job listings.Labour shortages and increasing wage pressures are complicating efforts to manage inflation and economic growth.New figures reveal that…

Yoox Net-A-Porter Group (YNAP) has decided to exit the Chinese market to refocus on more profitable regions.The partnership between Richemont and Alibaba, facilitating YNAP’s presence in China, is set to conclude imminently.Weakening demand from Chinese consumers has significantly impacted the luxury market, compelling strategic shifts.Other luxury brands, such as Kering and Burberry, are also experiencing reduced demand in China.Richemont’s efforts to sell a majority stake in YNAP after a failed deal with Farfetch continue.The Yoox Net-A-Porter Group, a luxury e-commerce entity under Richemont, has opted to withdraw from the Chinese market. The decision aligns with their strategy to redirect focus…

Barclays has announced the suspension of its sponsorship of Live Nation festivals for 2024. The decision follows substantial protests and withdrawals by several performing artists.This move is a significant response to accusations regarding Barclays’ investment ties with arms companies trading with Israel amidst the ongoing Gaza conflict.Protests Prompt Barclays’ DecisionBarclays’ decision to suspend its festival sponsorship came after several artists, including CMAT, Ithaca, and Joanne McNally, pulled out of their performances. This action highlights a notable protest against the bank’s ties to arms firms engaging with Israel. In response, Live Nation confirmed Barclays’ withdrawal following discussions with the artists involved.Barclays…

In a significant move aimed at reducing operational costs, Asda has decided to outsource over 100 IT staff to an Indian firm. This decision has stirred concerns among employees and industry experts. The move forms part of a broader cost-cutting initiative under Asda’s private equity owner, TDR Capital.The outsourcing plan, disclosed in an email to staff, primarily affects IT employees at Asda’s Leeds headquarters. This announcement came shortly after TDR Capital tightened its grip on the retailer by acquiring Zuber Issa’s 22.5% stake. The consultation process currently involves over 130 employees.Asda has not ruled out the possibility of redundancies. The…

Netflix reports that the ‘Bridgerton universe,’ produced by Shondaland, has injected £275 million into the UK economy over the past five years. Shonda Rhimes, Shondaland’s chief executive and producer of hits like ‘Grey’s Anatomy,’ marked the launch of the second part of season three by inaugurating trading at the London Stock Exchange last Friday.Rhimes emphasised the cultural resonance of ‘Bridgerton,’ noting its influence on trends, baby names, and even weddings. ‘The Bridgerton universe occupies a special space in culture, resonating with young and old alike, creating conversation, starting trends and influencing everything from baby names to weddings,’ she said. The…

Alan Bates’ knighthood underscores his pivotal role in exposing a significant miscarriage of justice. Detailed below are the key points surrounding the honours and other notable recipients.Bates founded the Justice for Sub-postmasters Alliance and revealed wrongful convictions caused by Horizon software.Over 700 post office branch managers were falsely accused between 1999 and 2015.Notable other honourees include Tracey Emin, Armando Iannucci, and Gordon Brown.Bates hopes his knighthood will help secure final justice for the sub-postmasters.Alan Bates’ recognition comes as a result of his critical role in unveiling one of Britain’s most severe miscarriages of justice. As the founder of the Justice…

Heathrow Airport is bracing for a substantial increase in business rates, which could have significant implications for both the airport and its passengers.New assessments indicate an annual business rate increase at Heathrow from £200 million to £300 million starting in 2026.The airport has engaged in confidential talks with government officials to manage the potential backlash from airlines.The increased costs may be passed onto passengers, potentially adding £15 to a family of four’s flight ticket.Uncertainty surrounds how political pledges to overhaul the business rates system will impact the proposed hikes.Europe’s busiest airport, Heathrow, has been involved in covert discussions with Whitehall…

This summer, a series of major sporting events promise to drive significant sales growth for retailers.The UEFA Euros, Wimbledon, and the Olympics are key events expected to capture audience interest.Sports Direct launched a dynamic campaign featuring popular sports stars and innovative products.Sales projections are optimistic, with a particular focus on football and running categories.Weather impacts are considered minimal, with sports events set to uplift consumer spending.The anticipation surrounding major sports events this summer, including the UEFA Euros, Wimbledon, and the Olympics, is expected to significantly boost retail sales. According to Ger Wright, managing director of sports at Frasers Group, these…

Wells Fargo has terminated employees who were allegedly using ‘mouse jigglers’ to fake keyboard activity, an action disclosed in broker filings with the Financial Industry Regulatory Authority (Finra).The bank, which ranks as America’s third-largest, refrained from detailing the methods utilised to uncover this issue or whether it was connected to remote working arrangements. This measure follows new US regulations mandating inspections of offices used by brokers working from home every three years. Laurie Kight, a spokeswoman for Wells Fargo, commented, “Wells Fargo holds employees to the highest standards and does not tolerate unethical behaviour.”The advent of remote work amid the…

Jaguar Land Rover (JLR) has committed over £1 million to support police operations and intelligence gathering in a decisive move to tackle vehicle theft in the UK.This announcement comes in the wake of JLR’s CEO, Adrian Mardell, refuting allegations that Range Rovers are particularly susceptible to theft. Despite these assurances, Range Rover owners have reported substantial increases in insurance premiums or even outright refusal of coverage. Meryl Cabellos, a 41-year-old French national living in the UK, experienced his insurance premium for a 2017 Range Rover Sport surge from £2,000 to £4,000. When unable to renew his insurance, the only alternative…