Entries by admin

Toys R Us to close ‘at least’ 26 stores across the UK

The toys giant makes the announcement after filing for bankruptcy in September. Around a third of Toys R Us stores across the United Kingdom will shut meaning 800 jobs are at risk following the company’s restructure plans after a bad run-up to Christmas and filing for bankruptcy. With sales down 10% and profit margins under […]

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Thomas Cook is planning the closure of 50 stores

If the plan was to go ahead, the travel operator would close the Thomas Cook and Cooperative Travel branded stores by March 2018. The move comes in the wake of a fall in footfall leading to a decline in profits at the travel agency. 400 people are said to be affected but the company will rehouse […]

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Bitcoin reaches $10,000 mark

The cryptocurrency made history and crossed the $10,000 mark for the first time today, reaching $10,044 at 1:45am UTC. Bitcoin‘s incredible rise continues after the virtual currency was trading at $1,000 at the beginning of 2017. It first reached this number in late 2013, before dipping and rising again. The total Bitcoins in existence now […]

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UK lags behind EU economic growth in Q3

EU economic growth was estimated to have increased by 0.6% in the third quarter as opposed to the UK’s 0.4%. The Eurostat figures show the differences in fortunes between Britain and the single currency area during Brexit talks. The 19 members grew 0.2% faster in the three months to September this year. Eurozone GDP growth of […]

Confidence in UK housing sector hits half-decade low

The Halifax bank survey showed 20% of people think house prices will drop because of rising inflation and the potential of an increase in interest rates. This is the weakest reading since October 2017 and people under the age of 25 and living in London are the least optimistic. Correlated alongside this is the weak […]

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UK car manufacturing falters in September

The fall in UK car manufacturing was predominantly attributed to an overall fall in demand of 14% in the UK market. UK car output fell 4.1% to 153,224 vehicles last month. The months of April, May, June and August also saw declines. Domestic demand declined by a large sum to 31,421 units (14.2%) in September. […]

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UK economy beats 2017 third-quarter expectations

The British economy grew by 0.4% in the third quarter but difficulties still lie in the current Brexit landscape. Gross domestic product (GDP) grew 0.4% from the period July to September, which is up from the 0.3% of the last quarter and 0.1% higher than initially expected, according to the Office for National Statistics figures. This small […]

Costa losing out to expensive imports and artisan competitors

The coffee giant’s pre-tax profits dropped around 10% to £59 million. Whitbread, Costa’s owner, saw group profits rise by 20% to £316 million thanks to its Premier Inn hotel business and a sales growth of 7% to £1.7 billion. Coffee imports have become more expensive as the product is priced in dollars. This is also […]

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Virgin Trains to auction first class seats via app

East Coast train line operator Virgin Trains is to allow passengers to bid for first class tickets via a smartphone app, in a move it describes as a global first. The Seatfrog app will enable passengers to bid for upgrades up to 30 minutes before departure, with upgrades potentially costing as little as £5, according […]