There are “genuine grounds for hope” that at least parts of Wilko will be taken over, according to the GMB union. National secretary Andy Prendergast said he had met PwC, the firm overseeing the sale of the retailer. He confirmed there had been expressions of interest in the business, adding that talks with potential buyers…
The banking sector is being warned it faces penalties if it does not secure free access to cash for the UK population, including businesses, following waves of branch closures over more than a decade. The Financial Conduct Authority (FCA) is to be given powers to fine banks that fail to provide free access to cash,…
As the first major global AI safety summit approaches, Prime Minister Rishi Sunak is yet to provide crucial details such as an exact date and invitee lists, as officials from four counties around the world urge the UK to speed up the planning process, according to spokespeople from Politico. Earlier this year, the UK announced…
The proportion of top A-level grades is down on last year but still remains above pre-pandemic levels. A* and A grades were awarded to 27.2% of students, compared to 36.4% last year, 44.7% in 2021 and 38.5% in 2020. But the number is up by 1.8% compared to pre-pandemic levels, when 25.4% of A-level entries…
Scotland’s finances are “improving at a faster rate” than the UK as a whole, a key ally of First Minister Humza Yousaf has insisted, despite new figures showing spending north of the border continues to exceed the amount raised in revenue. Public spending in Scotland amounted to £106.6bn in 2022-23 – up by £9.3bn (9.5%)…
Nearly 30% of people find it difficult to afford essentials – like groceries, broadband and insurance – despite most people shopping around for better prices, a think-tank reveals today. The Social Market Foundation (SMF) said the research showed the limits of the “Martin Lewis effect”, where shoppers use better consumer information to get better deals….
Scottish fintech Know-it have announced the expansion of their cloud-based credit management platform in Australia for 2024. This strategic move aims to deliver Know-it’s credit management solution to the Australian market, ensuring that Australian SMEs have access to the platform to effectively manage their credit control process. With its impressive track record of helping businesses…
Business confidence is high among SME leaders in the UK, with three in five forecasting increases in revenue over the next 12 months. Small businesses have been under unprecedented strain over the past few years, with the Covid-19 pandemic, the cost-of-living crisis and ongoing economic volatility creating persistent and cumulative challenges. Yet the majority of…
The landscape of the UK rental market is undergoing a significant shift as a growing number of landlords are opting to sell their properties amid a surge in mortgage rates. This trend, driven by a combination of economic factors, is causing ripples throughout the real estate industry and raising questions about the long-term stability of…
The Financial Conduct Authority (FCA) has launched an inquiry to investigate the phenomenon of ‘debanking’, aiming to assess the extent to which individuals, particularly politically exposed persons (PEPs) such as politicians and military leaders, have faced the denial of banking services. This move comes in the wake of the recent controversy involving Nigel Farage, whose…
Almost 100,000 rural microbusiness have been started in the past 12 months, with female entrepreneurs at the heart of the booming countryside economy. Data from Venture Forward, an annual international research initiative by GoDaddy that analyses data from more than British 2.3 million microbusinesses, shows that 25.9% of Britain’s microbusinesses are based rurally, up from…
The UK government has announced the launch of a new service to help Britain’s 5.5 million SMEs save on their energy bills while reducing their emissions. The UK Business Climate Hub launches today and includes a free carbon calculator and a suite of new tools to help businesses measure, track and report on their emissions…
Oliver Dowden, the deputy prime minister, has highlighted the potential of AI to enhance productivity and streamline mundane tasks. However, he also warns of the risks associated with AI, including the potential for hackers to exploit sensitive government information. We explore the far-reaching implications of AI and how it could shape various aspects of society….
As the Ultra Low Emission Zone (ULEZ) expansion in London looms closer, there has been a surge in demand for the mayor’s vehicle scrappage scheme. Londoners are eager to trade in their older cars and take advantage of the £2,000 grant offered by the scheme to purchase a vehicle that is exempt from the £12.50-a-day…
Wilko, the well-known High Street homeware retailer, has recently collapsed into administration, unable to secure a rescue deal. With 400 shops and 12,500 workers at stake, the future of the company hangs in the balance, I look at the reasons behind its downfall, and the potential implications for its employees and the retail industry as…
