Author: Sam Allcock

Keir Starmer is poised to address the nation, acknowledging the significant challenges ahead due to Conservative policies.He emphasises that improvements will not be immediate and will require tough, potentially unpopular decisions.The Prime Minister highlights the deep-rooted societal and economic issues inherited from the previous government.Starmer has been urged from within his party to provide immediate relief for rising energy costs and poverty.Chancellor Rachel Reeves faces pressure to reconsider limiting winter fuel payments as costs are set to rise.Keir Starmer, the leader of the Labour Party, is set to make a critical address outlining the considerable challenges ahead, largely attributed to…

British Steel’s decision to cut 2,500 jobs highlights serious challenges facing the UK steel industry.Despite a £600m taxpayer-funded initiative, British Steel plans to close Scunthorpe blast furnaces.The company shifts towards importing steel, raising concerns about the future of UK steel production.Union leaders express outrage over the job losses, citing lack of consultation in the process.The future of British Steel’s operations remains uncertain as the government reviews the company’s decarbonisation plans.British Steel, owned by China’s Jingye Group since 2020, is reportedly planning to cut 2,500 jobs by closing its blast furnaces in Scunthorpe. This decision is unfolding despite receiving a £600…

In 2023, Fred Perry Limited, a British heritage brand, reported significant financial growth, reflecting a return to pre-Covid expectations.The company’s gross profit rose to £76.9 million, marking a substantial increase from the previous year.Revenue for the year increased by 10%, reaching £149.1 million.The brand’s profit before tax saw a modest rise of 4%, amounting to £16.3 million.Despite store closures, Fred Perry continued to focus on its iconic Fred Perry Shirt as a core product.In 2023, Fred Perry Limited achieved a gross profit of £76.9 million, a noticeable increase from the £64.5 million reported in 2022. This growth aligns with the…

Gatwick Airport has reported a notable 7.7% rise in passenger numbers for the first half of 2024, largely attributed to a surge in short-haul travel.While revenues increased by 15.3% to £488 million, long-haul travel continues to lag, dropping by 30% from pre-pandemic levels.The airport’s Chief Executive, Stewart Wingate, remains optimistic about the future recovery of long-haul travel with potential expansion plans in the pipeline.Short-haul passenger volumes are edging closer to pre-pandemic levels, with expectations to surpass 2019 figures later this year.Future growth at Gatwick is contingent upon the government’s decision regarding the use of its emergency northern runway.Gatwick Airport has…

Gatwick Airport has experienced a significant rise in passenger numbers, driven primarily by short-haul travel demand.The first half of 2024 saw passenger numbers at Gatwick increase by 7.7%, marking a substantial recovery trend.Revenues have risen by 15.3% to £488 million, with pre-tax profits also seeing a sharp rise of 36%.Despite growth, overall passenger numbers are still down compared to 2019, highlighting ongoing long-haul challenges.Plans for expansion could further support Gatwick’s growth, including utilising a northern runway to increase capacity.Gatwick Airport’s recovery in the first half of 2024 is noteworthy, with a 7.7% increase in passengers, largely attributed to robust short-haul…

The UK job market shows signs of recovery as vacancies rise for the first time this year.Job vacancies in July increased by 1.1% compared to June, reaching 862,043, bringing hope to job seekers.Despite the monthly increase, vacancies remain 17.69% lower than in July 2023, indicating a pending full recovery.Average salaries advertised have increased by 2.95% year-on-year, although salary transparency is at an all-time low.Demand for domestic help and graduate roles significantly boosted the monthly vacancy count.The UK job market witnessed a noteworthy rise in job vacancies in July, marking the first increase of the year with a 1.1% upturn compared…

HR managers face challenges in attracting younger talent, showing potential discordance between their strategies and actual employee needs.A significant portion of HR managers prioritise career advancement over other perks, despite employees valuing salary and job security more.Research by Reed Talent Solutions highlights the disconnect between what HR offers and what new employees seek.Soft skills training is lacking despite being a consideration for hiring, leading to unmet employee expectations.Effective onboarding and tailored support are critical for integrating new talent into the workforce.Almost half of HR managers (47%) consider career advancement as the primary method to attract and retain younger talent. However,…

Household confidence in the UK economy has experienced a decline after six months of growth, according to recent data from GfK.The economic optimism index has fallen, indicating growing concerns about the future economic outlook over the next year.Despite the overall decline, there is increased optimism regarding personal finances, influenced by recent reductions in mortgage rates.The savings index has seen a noticeable rise, suggesting a trend towards saving rather than spending amid economic uncertainty.Though consumer confidence has improved compared to last year’s low, the outlook for the broader economy remains precarious.The long-standing index, which has been a fixture since the 1970s,…

UK consumer confidence has declined after a six-month period of growth.The index remains unchanged at -13, slightly above the long-term average.Economic outlook concerns have led to the dip in confidence for the next year.Households feel more positive about personal finances despite broader economic worries.Recent cuts in mortgage rates have contributed to improved personal finance outlook.For the first time in half a year, UK consumer confidence has seen a decline, according to recent findings. The long-running index, dating back to the 1970s, has stagnated at -13. While this figure is slightly higher than the long-term average of -18, it did not…

A newly accountant-owned law firm is embarking on a nationwide campaign to support directors entangled in Bounce Back Loan disputes.Tom Blanchfield, managing director of Complex Law, announced the firm’s strategic move to attract directors facing challenges with Bounce Back Loans (BBL). Currently assisting around 50 clients, the firm aims to expand its case load to between 100 and 500 cases monthly by the year’s end, amidst £1bn loans defaulting.As Mr Blanchfield pointed out, numerous small businesses that secured BBLs were compelled to cease operations during the COVID-19 pandemic and its aftermath. Now, the Insolvency Service is actively pursuing these business…