Author: Scott Dylan

Inflation in the United Kingdom remained steady at 2.2% in August, as newly released figures highlight ongoing price pressures. The Office for National Statistics (ONS) data indicates that the cost of living remains a significant concern for many households, and the Bank of England faces challenging decisions regarding interest rates.The report from the ONS confirms that inflation in August held at 2.2%, consistent with July’s rate and in line with economists’ expectations. Core inflation, which excludes volatile items such as food and energy, experienced an uptick, reaching 3.6%, up from 3.3% in July. Grant Fitzner, Chief Economist at the ONS,…

Fortune has unveiled its inaugural list of top LGBTQ+ business leaders, spotlighting 25 of the world’s leading executives who are openly gay.The American business publication, known for its Fortune 500 rankings, compiled a list of the world’s most influential CEOs, chairs, and co-founders who are openly gay, based on their companies’ revenue.This definitive ranking underscores the significant contributions of LGBTQ+ leaders in driving business success globally, stated Fortune. Apple’s Tim Cook leads the list, with Jim Fitterling, chair and CEO of Dow, following closely behind. George Cheeks and Chris McCarthy, co-CEOs of Paramount Global, also feature prominently on the list.Antonio…

A recent survey by YouGov has revealed that 36% of women believe they are receiving unequal pay compared to their male counterparts within their organisations. This finding comes ahead of International Equal Pay Day on 18th September, highlighting ongoing perceptions of pay disparity despite legal requirements advocating for equal pay for equal work.The survey results also showed that only 10% of men felt they were paid more than their female colleagues. This disparity in perception underscores the persistent concern about the gender pay gap, which continues to affect women across various sectors.The Advisory, Conciliation and Arbitration Service (Acas) has reported…

Advanced Medical Solutions (AMS) Group has reported a noteworthy eight per cent increase in revenue, reaching £68 million in the first half of 2024. This financial uplift has been significantly driven by the robust performance of its surgical business unit, offsetting challenges faced by its Woundcare division. Concurrently, the company has attracted the attention of private equity firm Inflexion, as per reports from Sky News.AMS Group, headquartered in Wilmslow, Cheshire, specialises in the development and manufacturing of tissue-healing technology. The firm’s interim results for the six months ending on 30 June reveal a substantial growth in its surgical business unit.…

Housing developer MJ Gleeson is ready for growth when homebuyer confidence returns, though that may take some time. Full-year results from the Sheffield-based builder highlight early signs of market improvements, including interest rate cuts and positive signals from the new Government.Gleeson reported a 5.2% rise in revenue to £345.3 million for the year ending in June, although pre-tax profits fell by 21.3% to £24.3 million, and group operating profits dropped to £28.6 million from £33.6 million. During the same period, the company sold 1,772 homes, an increase from the 1,723 homes sold the previous year. The firm aims to deliver…

LBG Media, the owner of LAD Bible, has reported a substantial increase in profits as its global audience continues to expand, nearing the 500 million mark. This impressive financial performance has resulted in a notable rise in the company’s share value at the beginning of trading on Wednesday.The London-listed digital entertainment company, which also owns Joyride and 5 Minute Fun, experienced a dramatic turnaround, posting a profit of £7.1 million for the first half of 2024. This marks a significant shift from the £1.2 million loss reported during the same period the previous year, according to City AM.Organic total revenue…

Footasylum, headquartered in Greater Manchester, has reported a significant pre-tax profit increase to £6 million for the financial year ending 27 January 2024, compared to £2.8 million in the previous year.The retailer’s remarkable performance can be attributed to the opening of several new stores, including a flagship 20,000 sq ft location on Oxford Street in London. Additional expansion took place in Birmingham, Essex, Westfield Stratford, Watford, Leicester, and Leeds as of March 2024. Furthermore, Footasylum’s broadened product offering led to substantial growth, with womenswear and junior category sales increasing by 16% and 14%, respectively. Wholesale revenues also surged by 87%…

Asda’s co-owner, Mohsin Issa, has announced his decision to step down from his executive duties at the supermarket giant to focus on his role as the chief executive of EG Group. This transition will see Lord Stuart Rose and TDR Capital partner Rob Hattrell assuming leadership responsibilities as Asda continues its search for a new CEO.Asda has confirmed that Mohsin Issa will step down from his executive leadership role to concentrate on his position as the sole chief executive of petrol forecourts business, EG Group. Lord Stuart Rose will take over Mohsin’s responsibilities alongside TDR Capital partner Rob Hattrell, according…

UK retailers have experienced a significant boost in summer sales, with an impressive 40% increase driven by effective price cuts.Online retailers using platforms saw their total revenue climb to £40 million, up from £33.8 million in the previous year. However, the data indicates that this revenue increase did not match the surge in product sales, suggesting that retailers reduced prices to attract more customers.The increased sales were supported by a 140% rise in the number of people opening summer sales emails, as consumers eagerly sought out bargains. The Office for National Statistics (ONS) has reported steady growth in UK retail…

Despite the stability in headline consumer prices, core inflation—which excludes volatile elements like food and energy—has accelerated from 3.3% to 3.6%, surpassing economists’ expectations of 3.5%.The Office for National Statistics (ONS) highlighted that rising airfares, which jumped by 11.9% year-on-year, were the primary driver of inflation in August. Meanwhile, a decline in fuel prices by 3.4% helped keep overall inflation steady. Prices in restaurants and hotels rose at the lowest rate in three years, increasing by 4.4%.These figures precede Thursday’s meeting of the Bank of England’s Monetary Policy Committee (MPC), where policymakers are expected to maintain the base interest rate…