Category: Economy

Boohoo buys Karen Millen and Coast

Economy

Boohoo.com has bought the online business and intellectual property of Karen Millen and Coast in a £18.2m pre-pack administration deal. An initial 62 job losses have been announced, while over 1,000 more are in danger across 32 UK stores and 177 concessions. Administrators said stores would only stay open...

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FCA and TPR warn on pension fraud

Economy

A Financial Conduct Authority and Pensions Regulator poll has found that two-fifths (42%) of pension savers would be likely to fall for common tactics used by fraudsters. Nearly 45% of the 45 to 65-year-olds surveyed said they would discuss their pension with a cold caller, while one in six...

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Younger generation takes interest in P2P lending

Economy

A new report from data specialists CACI shows an increased interest from the younger segment of the population in P2P lending, with over a third of web searches for the term coming from the youngest four population groups in the first quarter of the year. The report suggests this...

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Record profits for iconic sports car maker

Investment, Economy

An iconic 110-year-old British sports car manufacturer almost doubled its profits during 2018 to record levels. Morgan Motor Company has reported a pre-tax profit of £3.1m for the year to 31 December 2018, up from £1.7m in 2017. The new figures come after Investindustrial acquired a majority stake in...

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London named top European city to invest in…

Economy

London has moved up to second in Schroders’ global ranking of cities with the most investment potential. The capital rose from third place in 2017 and eighth place in 2016 in the Schroders Global Cities 30 index, with only Los Angeles ahead of it. Paris in 17th place and...

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GI industry cautioned by FCA

Economy

The FCA has warned the general insurance industry that it will “not hesitate to intervene with both firms and their senior managers” if customers receive poor value. Firms were cautioned over approaches that can lead to customers purchasing “inappropriate products, paying excessive prices or receiving poor service”. The regulator...

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UK economy grows faster than predicted

Economy

GDP grew by 0.2% in February from a month earlier, according to the Office for National Statistics, confounding City economists’ expectations for zero growth as Brexit nears and the global economy slows. The 0.3% rise in the three months to February, was the same as the three months to...

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More firms report cyber-attacks

Economy, Advice

Research from Hiscox reveals the proportion of UK firms reporting a cyber-attack has jumped from 40% in 2018 to 55% this year. Almost three quarters of firms were ranked as “novices” in terms of cyber readiness and Hiscox said a lot of businesses “incorrectly felt that they weren’t at...

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