Author: Scott Dylan

Retailers are pressing Chancellor Rachel Reeves to honour her promise of relieving business rates.A potential £2.7bn tax increase may hit smaller retail, leisure, and hospitality firms.From April, 252,000 businesses could face a sharp rise in property tax as a relief scheme ends.Retail sector bosses urge for rates reform to balance the financial burden across industries.An open letter suggests a 20% reduction in business rates on retail properties.Retailers across the United Kingdom are urging Chancellor Rachel Reeves to deliver on her commitment to alleviate the burden of business rates. This call for action gains urgency as new findings highlight a looming…

Liverpool University has announced a significant development in legal education, partnering with six major law firms to introduce a pioneering four-year degree programme with a year in industry.Thirteen students in their third year have transitioned from the conventional three-year format to embark on a year-long placement with renowned firms such as Brabners, DWF, Hill Dickinson, In-House Legal Solutions, Taylor Wessing, and Weightmans. These placements are designed to last a minimum of 40 weeks, with the firms committed to paying at least the real Living Wage.A particular emphasis has been placed on encouraging students from under-represented backgrounds, or those perceiving hurdles…

Boeing’s decision to cut 17,000 jobs globally raises significant concerns for its UK workforce.The company’s UK operations, including its Sheffield facility, face uncertainty amid financial pressures.Financial challenges have prompted Boeing to delay aircraft projects, affecting workforce stability.Approximately 400 UK jobs could be impacted if cuts are applied proportionally.Regulatory issues and strikes have exacerbated Boeing’s production and financial difficulties.Boeing’s announcement to reduce its global workforce by 17,000 positions has sent ripples of concern through its UK operations. With its only European manufacturing facility located in Sheffield, the potential impact on the UK workforce, which spans 30 locations, is substantial. Half of…

Frasers Group has increased its takeover bid for Mulberry to £111 million following a rejected offer last week.The revised offer values Mulberry shares at a 50% premium of 150p each.Frasers has slightly raised its stake in Mulberry after purchasing additional shares.The deadline for a firm offer under UK rules is set for 28 October.The acquisition followed a strategic investment in THG shares as part of a fundraising effort.Frasers Group has surged forward with a revised takeover bid for luxury handbag retailer Mulberry, raising the offer to £111 million after its previous bid was turned down. This new proposal stands as…

Selfridges’ property portfolio has notably decreased in value over the past year.A £638.6 million reduction marks a 20.6% drop from its original £3.1 billion valuation.The devaluation impacts key assets, including the Oxford Street flagship store.Over £1.7 billion in loans tied to Selfridges’ properties are due in August 2025.Recent investment moves include a 40% stake acquisition by Saudi Arabia’s Public Investment Fund.The property portfolio of Selfridges, one of the leading department store groups, has lost significant value, with a reduction of £638.6 million from its previous £3.1 billion valuation. This downfall constitutes a 20.6% decrease, raising concerns about future financial stability…

Uniqlo has reopened its White City Westfield store, showcasing an extensive renovation.The renovation has expanded the shopfloor, enhancing the LifeWear range across two levels.A new play area has been introduced in the children’s department for families.The store also launches a unique collaboration with Crisis to support homelessness awareness.Exclusive limited-edition t-shirts featuring new characters are now available.Uniqlo’s White City Westfield store has reopened its doors following a significant renovation project that spanned ten months. The updated space offers customers an enriched shopping experience with an expanded shopfloor designed to house a broader range of LifeWear products across two distinct levels.The renovated…

Asda strengthens its strategic alliance with Decathlon, launching an online range of sports goods.This initiative is part of Asda’s collaboration with Virtualstock to broaden its online offerings.The selection includes a variety of Decathlon’s sportswear, shoes, and accessories.Andrew Thompson, an Asda senior manager, praises the partnership for extending customer reach.Decathlon products are already available in 22 Asda supermarkets across the UK.In a significant development, Asda has expanded its strategic partnership with Decathlon by offering a range of the sports retailer’s products online via its George website. This move is part of Asda’s broader strategy to enhance its third-party offerings on George.com,…

Iberdrola, owner of Scottish Power, commits to a £24 billion investment to enhance the UK’s green energy infrastructure.The company will focus on upgrading high-voltage cables and electricity networks to support clean energy demand.New wind farms are planned, specifically off the coast of East Anglia, to power around one million homes.This investment will be directed mainly at the electricity grid in Scotland where renewable energy is significant.Iberdrola’s move comes as a strategic response to the UK’s initiatives on decarbonising its electricity system by 2030.Iberdrola, the owner of Scottish Power, has announced a monumental investment of £24 billion to advance the UK’s…

The UK space industry awaits critical developments with the upcoming October budget.Challenges have been mounting due to delays in regulatory approval for space launch activities.The absence of strong governmental support raises concerns about the sector’s future.A thriving space sector is crucial for the UK’s economic success and global competitiveness.The industry anticipates strategic initiatives from the Labour administration to foster growth.The UK space industry is at a pivotal moment, with many stakeholders eagerly anticipating the impact of the upcoming October budget. Recent years have seen mounting hurdles, particularly due to delays in regulatory approvals that have prevented the UK from conducting…

Danish fashion group Bestseller has recorded an 8% increase in profits to 5.3 billion DKK (£590 million) by the end of July 2024.Despite a 4% drop in annual revenue to 35.6 billion DKK (£3.99 billion), Bestseller achieved profit growth.This profit rise was largely facilitated by enhanced efficiency in logistics operations.Retail sales saw an upward trend with a 5% increase and the opening of over 330 new stores.Bestseller plans to expand its retail presence and focus on sustainable materials in future production.The Danish fashion group Bestseller reported a notable achievement in increasing its profits by 8% to 5.3 billion DKK (£590…