UK consumer spending rebounded in July as the “lipstick effect” and major entertainment events, including the Oasis reunion tour, encouraged shoppers to splash out on affordable luxuries, according to Barclays. The bank, which tracks 40% of UK card transactions, reported that sales increased 1.4% year-on-year last month, recovering from a 0.1% decline in June. The … Read more
The Duke and Duchess of Sussex have signed a new multi-year film and television deal with Netflix, defying speculation earlier this year that the streaming giant would not renew its contract with the couple. Harry and Meghan first agreed a five-year partnership with Netflix in 2020, reportedly worth $100 million (£78 million), after stepping back … Read more
The Entertainer, the UK’s largest toy shop chain, is set to become employee-owned after founder Gary Grant announced plans to transfer 100% of the family business to its 1,900 staff by the end of September. The retailer – which also owns the Early Learning Centre and Addo toy brands – will be placed into an … Read more
For years, digital currency was seen as the wild west of finance—volatile, complex, and suitable only for high-risk investors or tech obsessives. But times have changed. As crypto infrastructure matures and major businesses dabble in blockchain, a new idea is gaining traction: payroll in crypto. Could British workers soon be getting paid in Bitcoin, Ethereum, … Read more
If you work in estate agency, you’re not new to regulation and compliance. They’re just a normal and everyday part of running your business. From AML checks to GDPR obligations and even property misdescription legislation, there’s a lot to keep on top of. But while they might seem like a bit of a bureaucratic pain … Read more
Elon Musk’s Tesla is preparing to enter the UK household energy market after applying for a licence to supply electricity to homes and businesses across Great Britain. The US electric carmaker, which also operates an energy business in America, has formally applied to the energy regulator Ofgem for an electricity supply licence covering England, Scotland … Read more
Anthony Thomson, co-founder of Metro Bank and Atom Bank, is launching a new venture aimed exclusively at the global super-rich. Family Offices Bank (FOB) will target ultra-high-net-worth individuals with at least $30 million in investable assets and family offices managing $100 million or more. The bank, to be domiciled in Jersey, plans to sign up … Read more
Pasta Evangelists has unveiled ambitious plans to open 100 restaurants across the UK over the next five years, in a £30 million expansion drive that is expected to create up to 1,500 jobs. The London-based fresh pasta brand, which began as a recipe kit delivery service before branching into dining, is seeking new sites and … Read more
Poundland is closing 49 stores across the UK over the next five weeks, with 10 branches shutting their doors for good today, as part of a major restructuring under its new owners. US investment firm Gordon Brothers, which bought the discount retailer from Polish parent Pepco Group in June for a nominal £1, is cutting … Read more
Frugalpac, the Ipswich-based clean technology firm behind the world’s first commercially available paper wine and spirits bottle, has launched a £5 million equity fundraising campaign to accelerate its global growth and expand into new sustainable packaging formats. The investment round, hosted on crowdfunding platform Crowdcube, has already secured £1 million from existing and new backers … Read more