The year to June consumer price inflation stays at 2%. Services inflation remains solid, at 5.7%. Experts previously estimated that the figure would fall to 1.9%. Investors now doubt a Bank of England rate cut on August 1st Doubt enters an economist that Taylor Swift's tour may have increased inflation. UK inflation did not slow …
The bank has picked a Lebanese-born finance chief for the post of chief executive officer. He will take over in September as Director Noel Quinn retires after aggressive five years running the bank. Georges Elhedery joined HSBC in 2005, holding a series of critical roles, which included co-CEO, Global Banking, and head of Operations in …
Over 3,000 workers at Amazon's Coventry warehouse were recently asked to vote on union representation by the GMB. However, the union fell just short with 49.5% of the 2,600 voters supporting union recognition, missing a majority. As a result, the GMB cannot officially represent the workforce. They have launched a legal claim against Amazon, alleging …
The high street cosmetics chain entered administration in February, leading to the closure of 75 stores and the loss of 489 jobs. A team managed by former Molton Brown CEO Charles Denton is now poised to complete a rescue takeover deal, as administrators have agreed to an 'exclusivity agreement' following a competitive bidding process. The …
UK inflation remained steady in June despite a significant rise in hotel prices, according to the latest official figures. While prices in restaurants and hotels increased, sharp declines in clothing costs, driven by widespread retailer sales, helped offset these gains. Overall, inflation held at 2% for the year to June, unchanged from May. This indicates …
On Tuesday, billionaire Elon Musk announced on X that he intends to relocate SpaceX from Hawthorne, California, to Starbase, Texas, and move X's headquarters from San Francisco to Austin. This decision comes in response to a new California law, signed by Governor Gavin Newsom on Monday, which prohibits school districts from requiring staff to inform …
HSBC has appointed Georges Elhedery as its new chief executive, tasking him with navigating the bank through growing tensions between the West and China. Elhedery, who has served as chief financial officer since early 2023, will take over from Noel Quinn on September 2. Quinn's unexpected announcement in April of his decision to step down, …
Following months of rumormongering and speculations, Sephora has finally confirmed that a new store opening in Birmingham's Bullring shopping center is on the books. Before long, beauty enthusiasts from Birmingham will be enjoying a different destination for getting all their favorite makeup and skincare brands. The Big NewsSephora has announced it is to open its …
The country's watchdog for healthcare, the Care Quality Commission, has apologized for problems with its new inspection system. This was on the back of complaints by many hospitals, care homes, dentists, and GPs about the new system, terming it difficult and faulty. What's the Problem?It is responsible for checking on the quality of almost 15,000 …
Audi has placed an all-new A5 at its current lineup, replacing A4. The new A5 will feature a raft of other engines, which includes the current lineup of petrol, a diesel, and a hybrid variant. This model comes with a new platform providing improved technology inside the cabin and more efficient engines for both saloon …
Greggs, the bakery chain favorite, is to build a huge new distribution center at Symmetry Park in Kettering, it announced today.Why is this important?Greggs is on incredible growth. Today, they have 2,500 shops across the UK. But that's not everything—Greggs has a vision to have more than 3,000 shops. To do this, they need significantly …
Ocado, an online grocery company, was riding high—but lost its cool as share prices crashed. Yet, they reported a pre-tax loss of £153.9 million but showed a 12.6% increase in revenue. Their shares jumped by 18% when they moved out of their numbers. The reason is also that it is primarily a technology and automation …
A bus company that started services in Bristol following the pandemic – and took over routes cut by another bus firm – has stopped operating, throwing 13 routes into uncertainty. Rival firms have stepped in but many routes are still in doubt. In April 2023, a new bus route was placed on the road by …
Imagine butter: not from cows, but from air. `Backed by Microsoft billionaire Bill Gates, it's churned out by a California startup called Savor,' they say. Moreover, Savor has been tirelessly propelling dairy-free versions of ice cream, cheese, and milk. With mainstream alternatives in the mix, they use something known as thermochemical, combining carbon dioxide, hydrogen, …
