Business

The UK’s equity markets have taken a hit as the Labour government’s pessimistic portrayal of the country’s economic outlook reverses a brief recovery in investor interest. New figures from Calastone, a global fund network, show that UK-focused funds suffered net withdrawals of £666 million in September, while other geographically focused fund sectors recorded inflows. Overall, global investors pulled a net £564 million from fund holdings, marking the end of a ten-month streak of near-record inflows....

Starling Bank has been fined £29 million by the Financial Conduct Authority (FCA) for “shockingly lax” financial crime controls that left the UK’s financial system exposed to criminals and sanctioned individuals. The FCA’s investigation revealed that the digital bank failed to design and implement adequate systems to mitigate financial crime risks, particularly as it rapidly grew from its first account in 2016 to 3.6 million customers by 2023. The FCA raised serious concerns about Starling’s...

Canary Wharf has taken an unexpected turn in its efforts to revitalise the area, welcoming European eels and songbirds as part of a new initiative to boost biodiversity and enhance the appeal of its waterside environment. This latest move comes as the office district grapples with a post-pandemic decline in occupancy, as remote working reshapes the needs of businesses and employees. The Eden Dock project, launched on Wednesday, is a joint venture between Canary Wharf...

One-third of homes currently for sale in the UK are chain-free, as landlords and second-homeowners rush to sell amid speculation over potential capital gains tax increases in the forthcoming Budget. According to Zoopla, the property search website, the number of agreed house sales has risen by 25% compared to this time last year, driven in part by an influx of new listings. The increase in sales activity is also being supported by more homeowners coming...

Tesco is lowering prices “as quickly as possible,” according to its chief executive, in the latest sign that inflationary pressures in the UK may be subsiding. The country’s largest supermarket has cut prices on thousands of products as the cost inflation it faces eases. The retailer is continuing to work closely with suppliers to pass these savings on to customers. Tesco’s focus on competitive pricing has helped it maintain its status as the most affordable...

Sainsbury’s chief executive, Simon Roberts, has raised concerns that uncertainty surrounding potential tax increases is discouraging consumers from making significant purchases. With Labour’s shadow Chancellor, Rachel Reeves, preparing her first Budget, which is expected to address the £22bn public finance gap, households are holding back amid fears of higher taxes. Mr Roberts emphasised that customers were displaying increased caution in their spending, particularly on non-essential items, as they awaited more information on the Chancellor’s upcoming...

Earlier this year John Higginson was diagnosed with adult ADHD. Getting a diagnosis for a neurodivergence was a big step for him. It required a lengthy process and input from family members looking all the way back to his childhood. But on telling people his ‘big news’ the most common reaction was people telling him they were surprised that he didn’t know. It has got to the point now that he has stopped telling people....

Birmingham has reached a historic milestone with the launch of its first-ever legal whiskey, crafted by siblings Anthony Dillon and Joanie Doyle. After years of dedication and overcoming challenges, their distillery, Spirit of Birmingham, has officially brought the city into the global whiskey spotlight. Founded during the early days of the COVID-19 pandemic, Spirit of Birmingham is rooted in the siblings’ passion for crafting exceptional spirits and their love for the city where they grew...

Tata Consumer Products, the owner of Tetley Tea, has initiated legal action against striking factory workers, accusing them of trespassing during an ongoing pay dispute. The company has applied for a trespass injunction after workers allegedly entered Tetley’s Teesside production site in County Durham, violating picketing rules and engaging in “intimidating” behaviour towards managers. The Teesside facility, Tetley’s largest production site globally, is responsible for producing 30% of the tea consumed in the UK. The...

It is becoming more important for businesses to find a digital marketing agency that can both deliver quantifiable outcomes and comprehend the changing trends, especially in the rapidly changing digital environment. Digital Agency Network (DAN), the premier directory for top digital marketing firms, today announced its latest list of the best digital marketing agencies based in London for October 2024. This announcement highlights DAN’s ongoing dedication to promoting excellence within the digital marketing industry. About...