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The Business of Football Transfers

There’s very little dispute, if any at all, that football is the most popular sport in the world. When it comes to popularity, most other sports are playing for second. In the past, FIFA has reported that there are at least five billion football fans around the world. The federation has also reported that in December 2022, almost 1.5 billion people around the world caught the World Cup final between Argentina and France, and that...

Rachel Reeves Pledges ‘Most Pro-Growth Treasury in History’

Labour’s shadow chancellor Rachel Reeves will commit to leading the “most pro-growth Treasury in our country’s history” if her party wins the election on July 4. In her first major economic speech of the campaign, Reeves will promise to “bring growth back to Britain” and ensure a pro-business and pro-worker government under Sir Keir Starmer’s leadership. Reeves, a former Bank of England economist, will address business leaders, emphasising that Labour has evolved to serve working...

Navigating the Regulatory Landscape of the UK’s Gambling Business

The UK has been at the forefront of creating regulated gambling landscapes and is the model that many other countries look to when shaping their own policy in the area. Overall, the liberalisation of the market, coupled with a robust regulatory framework, has been heralded as a success. Certainly, funding from the UK’s National Lottery has been instrumental to many successful projects in the country. The community fund is behind projects and activities that protect...

NatWest Tells Customers to Visit Branches as Outage Hits Online Banking

NatWest has issued an apology to customers following an outage that has rendered its app and online banking services inaccessible. Customers began reporting issues early Tuesday morning, with many unable to log in to their accounts via the smartphone app. Upon attempting to open the app, users were met with an error message stating, “We’re sorry, some kind of error has occurred when trying to establish a connection between your device and ourselves.” In response,...

British Businesses Face £42bn Debt Crisis Post Ultra-Low Rates Era

British businesses are bracing for a debt crisis as high interest rates are predicted to cost an additional £41.7 billion by the end of the decade. With the expiration of cheap loans, borrowing costs are expected to surge, significantly impacting the economy. According to consultancy Baringa, businesses will face an average annual increase of £4.7 billion in debt servicing costs following the Bank of England’s decision to end the era of ultra-low rates, raising borrowing...

Scrap Stamp Duty for Over-75s to Solve Housing and Care Crisis, Says Retirement Home Boss

Stamp duty should be abolished for over-75s to encourage downsizing and free up family homes for younger buyers, according to Will Bax, CEO of Retirement Villages Group. England’s property transaction tax is a “handbrake” preventing older people from moving when they need funds for their care needs, Bax asserts. “We need to make it easier for people to downsize,” Bax said. “The issue that always comes up is stamp duty as a handbrake to that...

Shop Price Inflation Falls to Lowest Level Since November 2021

Shop price inflation in the UK has dropped to its lowest rate in nearly three years, returning to what experts describe as “normal levels.” Figures from the British Retail Consortium (BRC) and NielsenIQ reveal that the annual rate of increase in shop prices fell to 0.6% in May, down from 0.8% in April. Over the past month, shop prices have edged up by 0.2%, compared to a 0.3% decline in April. Food price inflation has...

Airbus to Hire 400 British Engineers Amid Boeing’s Struggles

Airbus is set to hire 400 engineers at its wing manufacturing plant in Broughton, Wales, as it seeks to expand its lead over Boeing in the competitive single-aisle jet market. This move comes as Boeing grapples with ongoing issues surrounding its 737 Max aircraft. The additional staff will be pivotal in transforming the Broughton plant’s West Factory, previously used for A380 superjumbo wings, into a production line for the popular A320neo model. The site, spanning...

MPs Declare Rail Subsidies ‘Unsustainable’ Amidst Stalled Reforms

MPs have warned that rail subsidies are at unsustainable levels, criticising the Government for delays in rail reforms. The Public Accounts Committee (PAC) highlighted the billions of pounds spent supporting passenger rail services in a recent report on rail reform progress. The PAC stated: “Much of the proposed reforms and associated benefits are now largely on hold until the next Parliament. The Department for Transport has not yet established Great British Railways (GBR), the new...

Soaring Delivery Fees and High Street Resurgence Fuel Online Shopping Abandonment

According to figures from Retail Economics and GFS, last year saw a 9% increase in “basket abandonment,” amounting to approximately £3 billion in lost sales. Online retailers missed out on £34.4 billion in 2023, with shoppers citing high delivery costs, limited shipping options, and new returns fees as key reasons for scrapping their orders. This is only the second year Retail Economics and GFS have compiled such data, but previous studies indicate a sharp rise...