Author: Sam Allcock

Julian Dunkerton, CEO of Superdry, argues for UK government intervention on Shein’s alleged tax advantages.He claims Shein benefits from a tax loophole on low-value imports, unlike competitors.Shein has previously attributed its success to a streamlined supply chain, not tax benefits.The UK Treasury emphasises balancing retailer and consumer interests in tax policy.Business Secretary Jonathan Reynolds has highlighted concerns over similar tax issues.Julian Dunkerton, the CEO of Superdry, has publicly urged the UK government to address and remove a tax loophole that allegedly favours the fast fashion giant Shein. Dunkerton claims that Shein benefits from import duty exemptions on low-value parcels sent…

Harrods launches an inquiry into possible staff links to allegations against its former owner, Mohamed Al Fayed.A BBC documentary reveals allegations of sexual misconduct against Al Fayed, with about 100 women coming forward.Harrods is cooperating with Scotland Yard to investigate any staff involvement in the allegations.An internal review supported by external legal counsel aims to uncover any direct or indirect staff links.Harrods has established a dedicated webpage for affected employees to report any misconduct they experienced.Harrods, the prestigious London department store, has initiated an inquiry to determine whether any current employees were involved in allegations against its former owner, Mohamed…

In a crucial address, Prime Minister Keir Starmer urged the UK to overcome short-term financial hardships for long-term gains.Starmer focused on stabilising the economy to counter a £22 billion deficit inherited from the Conservatives.His speech comes ahead of Labour’s first budget, which may include tax increases and spending cuts.Despite internal criticisms, Starmer remains steadfast on the need for economic prudence.Starmer’s plans highlight growth, reduced NHS waiting times, and a transition to cleaner energy.In a pivotal speech at the Labour conference, Prime Minister Keir Starmer emphasised the importance of making “tough economic decisions” to address the substantial £22 billion fiscal deficit.…

Goldman Sachs predicts a significant rise in the value of the pound against the US dollar, targeting $1.40 by next year.Sterling currently stands at $1.33, and this forecast marks a leap from previous predictions of $1.32.The Bank of England’s cautious approach to lowering interest rates contributes to this optimistic outlook.The UK’s strong growth momentum and less political turbulence under the Labour government bolster confidence in the currency.Goldman’s projection comes amid a steady US economy, enhancing the appeal of riskier currencies like the pound.Goldman Sachs, a prominent US investment bank, anticipates a marked increase in the value of the British pound,…

Goldman Sachs predicts the pound will reach $1.40 against the dollar by next year.The current value of the pound is $1.33, with a previous prediction of $1.32.The Bank of England’s modest interest rate reductions are key to sterling’s expected rise.UK’s stable political climate and solid economic growth contribute to currency strength.Labour’s economic policies aim to balance public investment with fiscal responsibility.Goldman Sachs indicates a bullish outlook on the pound, forecasting it to climb to $1.40 within the next year, significantly up from its current valuation of $1.33. This optimistic prediction also exceeds their previous projection of $1.32.The Bank of England’s…

The entity responsible for overseeing anti-money laundering (AML) activities in the legal sector has issued a stark warning, highlighting concerns over lax supervision. The Office for Professional Body Anti-Money Laundering Supervision (OPBAS) declared that there is a pressing need for substantial improvement among legal regulators.The Office for Professional Body Anti-Money Laundering Supervision (OPBAS) has called for stronger efforts from legal regulators to enhance their AML oversight. The body emphasised the necessity for a collaborative commitment to effectively combat the threat of money laundering in the UK. OPBAS is part of the Financial Conduct Authority (FCA) and supervises the anti-money laundering…

A group of 14 major financial institutions have joined a global initiative to triple nuclear energy capacity by 2050, adding their support to the movement first launched at COP28 in 2023. The banks, including Barclays, Bank of America, and Morgan Stanley, aim to play a key role in mobilising investment for nuclear power projects, viewed as crucial in the shift towards a low-carbon global economy. The institutions formally expressed their backing during a gathering in New York City’s Rockefeller Center, which included representatives from governments, financial sectors, and industries. The event focused on the role of private finance in advancing…

Vodafone has strengthened its partnership with satellite network operator Intelsat to extend its satellite connectivity services to organisations operating in remote areas and disaster zones. The agreement aims to boost Vodafone’s ability to provide reliable and rapid communication services in places where traditional networks are difficult to establish. The collaboration will enhance Vodafone’s terrestrial networks by incorporating Intelsat’s satellite technology to offer broader coverage in underserved regions. This move will benefit businesses, governments, and charities, enabling them to support critical operations such as tracking cargo, connecting temporary sites, and providing resilient communication solutions during emergencies. Through this partnership, Vodafone will…

Next has strategically acquired a 16% stake in Rockett St George, signalling its continued expansion in the homeware sector.The £0.8 million investment follows previous successful collaborations between the two brands, including a notable SS24 home collection.Rockett St George’s unique designs have resonated well with Next’s audience, culminating in exclusive product offerings.Next’s involvement is expected to broaden Rockett St George’s market presence and diversify its product range.The acquisition aligns with Next’s pattern of strategic investments in various lifestyle and fashion brands.Next has made a strategic move by acquiring a 16% stake in the dynamic homeware brand Rockett St George for £0.8…

MPs are urging Asda to resolve its gender pay dispute.159 MPs have addressed a letter to Asda’s owners.The legal battle over equal pay is in its second phase.Retail workers might be owed over £2 billion in back pay.The case highlights gender discrimination issues in retail.A significant movement for gender pay equality is gaining momentum as over 150 MPs advocate for fair pay practices at one of Britain’s largest supermarket chains. 159 Members of Parliament have issued a call to action to Asda’s primary stakeholders, TDR Capital, insisting on a resolution to the ongoing pay discrepancy claims that have reached a…