Lidl has shown significant growth this quarter, gaining ground as Asda faces challenges.Asda’s sales have dropped by 5.6%, resulting in a market share decrease of 1.2 percentage points.Lidl benefits from a 9.1% increase in sales, largely due to successful digital voucher schemes.Ocado retains its position as the fastest growing grocery retailer for the seventh consecutive month.Retailers focus on promotions as consumers remain concerned about grocery expenses.The latest figures from Kantar highlight a challenging period for Asda, with sales falling by 5.6% over the 12 weeks leading up to 1 September. This decline has led to a 1.2 percentage point drop…
Author: Dave Antrobus
A new survey reveals a shift in financial management among UK adults.51% of respondents feel more competent managing their finances.44% are actively seeking high-interest savings products.Many are exploring beyond traditional banks for better financial deals.52% learned valuable lessons from the cost-of-living crisis.A recent independent survey conducted by SmartSave has provided new insights into how UK adults are adapting to prolonged economic challenges. Over half of the participants, about 51%, reported feeling more competent in managing their finances over the past year. This suggests a significant shift towards financial literacy and proactive financial behaviour among Britons.The survey highlighted that 44% of…
The Resolution Foundation has suggested bold tax reforms for the UK Labour Party to consider in their budget proposals.Removing inheritance tax reliefs for agricultural and business assets could add £2 billion annually.Aligning capital gains tax with dividend and wage rates might generate £8 billion each year.The proposal includes introducing road pricing as a new source of income, replacing declining fuel duty revenue.Concerns were raised about lowering the stamp duty threshold, which may hinder housing stock efficiency.The Resolution Foundation has proposed significant tax reforms to the UK Labour Party, suggesting that these changes could help address rising fiscal demands. Key recommendations…
Industry insiders warn the UK government against pulling back financial support for quantum computing, risking decades of progress.The UK has established itself as a leader in the quantum field, employing substantial numbers and making significant technological progress.Concerns arise from a white paper by Phasecraft, highlighting the need for consistent public investment.Planned £1.3bn funding for tech and AI projects has been shelved, raising fears within the industry.International collaboration in quantum R&D is threatened by export restrictions, causing alarm among professionals.Industry insiders have issued a cautionary note to the UK government regarding the future of quantum computing. They stress the critical importance…
Entain experiences a notable rebound in online gambling revenues under the new CEO’s leadership, bolstered by major sporting events.The company reports significant third-quarter momentum attributed to events like the Euro 2024 and the Paris Olympics.Entain’s shares saw a recovery, climbing 5.3%, signalling confidence in the new CEO, Gavin Isaacs.The UK and Ireland saw particularly strong growth in sports and gaming, supported by increased volumes and improved margins.International operations, particularly in central and eastern Europe, met or exceeded expectations, while retail operations remained stable.Entain, one of the world’s leading sports betting and gaming groups, is seeing a return to growth in…
A lawyer, dual-qualified in law, has received a stiffer penalty from a Bar disciplinary tribunal than from the Solicitors Regulation Authority (SRA) following a conviction for assault at the Royal Opera House.Matthew Adam Feargrieve, convicted of common assault by beating, faced harsher repercussions from the Bar disciplinary tribunal than he did from the Solicitors Regulation Authority. This incident has captured public attention due to the setting and nature of the offence. While the SRA had previously issued a rebuke in 2021, the tribunal decided on a more severe course of action, deciding that the Bar Standards Board (BSB) should not…
PolyBox, a marketing analytics firm, secured a significant grant from Innovate UK.The Newcastle-based company uses AI to provide real-time insights for marketing agencies.Founded by Rojin Yarhmadi and Nikolaos Benopoulos, PolyBox plans to enhance data integration.The grant comes under the Innovate UK’s Creative Catalyst scheme, supporting innovative firms.The funding aims to push the boundaries of marketing technology capabilities.PolyBox, a thriving marketing analytics business, has been awarded a substantial grant from Innovate UK, marking a pivotal step in its expansion strategy. This Newcastle-based firm stands out for employing artificial intelligence to deliver real-time insights to marketing agencies. By integrating data from various…
NOQ Group, an event tech startup, has successfully raised £3.4 million in funding, yet the identity of the investors remains undisclosed.The West London-based company was founded in 2019 and specialises in event planning technology.NOQ Group’s platform offers features such as vouchers, loyalty programs, payment management, and multi-venue planning.Recently, the company secured a partnership with Charlton Athletic, enhancing its reach in the sports sector.Despite this major funding milestone, transparency about investors is lacking, attributed to the seed-stage nature of the round.NOQ Group, an innovative event technology firm, has announced the successful closure of a remarkable £3.4 million funding round. Despite this…
A recent report warns of an imminent pension crisis among the UK’s self-employed workforce.Only 500,000 out of 2.3 million self-employed individuals earn over £10,000 and contribute to a pension.More than half are anticipated to retire on an income below £15,000 annually, including state pension.Aged 25-34 self-employed individuals should save 9% of income, those over 50 should save 18%.Experts urge government measures to promote pension savings among the self-employed.The Institute for Fiscal Studies (IFS) has issued a stark warning regarding the pension provisions for the UK’s self-employed sector. Nearly two million self-employed workers face a potential financial shortfall in retirement due…
A significant number of self-employed workers in the UK face a pensions crisis.Out of those earning over £10,000 annually, only 500,000 are contributing to pension schemes.Savings rates among self-employed have significantly dropped over the last 25 years.Many self-employed are at risk of having inadequate income upon retirement.Urgent government intervention is suggested to rectify the impending crisis.The Institute for Fiscal Studies (IFS) reports an alarming trend affecting nearly two million self-employed workers in the UK, who are at risk of financial instability in retirement due to inadequate pension savings. Currently, just 500,000 out of the self-employed individuals earning more than £10,000…