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Evening Standard
Pret hikes worker salaries to keep within minimum pay rules
Pret a Manger will increase the salaries of its workers from the start of next month to avoid falling foul of minimum wage laws, which change on April 1.The sandwich chain said that it would hike pay for its worst-paid staff by 2.9%, from £10.30 an hour to £10.60 an hour.It ensures that the company …
Business
Evening Standard
Teacher strike talks making progress, says Education Secretary
Talks between the Scottish Government and the Educational Institute of Scotland (EIS) union have made “progress”.The announcement comes after Education Secretary Shirley Anne-Somerville held talks with the union on Tuesday and Wednesday afternoon – and said the discussions were “very useful” and touched on possible “areas of compromise” to stop the dispute.She said: “I am …
Business
Evening Standard
Revolut report shines spotlight on other London fintechs with missing accounts
The much-anticipated annual accounts of fintech giant Revolut were published today, a little over two months after the statutory filing deadline – and they didn’t disappoint. The results reveal a near-tripling of company revenues in 2021 – though interestingly, auditors BDO say they haven’t been able to independently verify all the revenue disclosed.But while Revolut …
Business
Evening Standard
Iconic James Bond car maker Aston Martin hits the accelerator
Is Aston Martin a car crash?That was the common view until lately. In the last four years since it floated it drove up losses of well over £1 billion.Investors who believed in the brand saw the value of their investment plunge from £5 billion to perhaps a fifth of that.The view was that management had …
Business
Sky News
Shop price inflation reaches record high, UK house prices fall and young people urged to consider farming careers
Ian King speaks to the British Retail Consortium as shop price inflation reaches a record high, with consumers warned prices are unlikely to drop again for months.Plus, UK house prices record their first year-on-year fall in nearly three years.Elsewhere, young people are being urged to consider careers in farming.:: Listen and subscribe to The Ian …
Business
Sky News
Andrew Bailey says ‘nothing is decided’ suggesting interest rates may rise less than thought
Interest rates may rise less than previously thought with the governor of the Bank of England signalling there is no urgent need for hikes.The central bank has been consistently raising interest rates – making borrowing more expensive – in an effort to bring double-digit inflation down to the Bank’s 2% target. Further increases had been …
Business
Sky News
Brexit and bad planning also to blame for UK fruit and veg shortages, Spain says
Brexit and bad planning – along with weather – are to blame for the fruit and vegetable shortage affecting the UK’s supermarkets, Spain’s agriculture minister has said. Major chains Tesco, Aldi, Lidl, Morrisons and Asda have imposed limits on the number of certain items customers can buy. Fruits and vegetables increasingly sourced from Morocco and …
Business
Business Live
Manufacturer secures new £13m Black Country base
A family-run Black Country manufacturer is to double the size of its operating base with a new purpose-built factory. Drywall Steel Sections has been at its existing site in Cradley Heath for more than eight years but has outgrown the facility which it said was no longer fit for modern production methods. It is now …
Business
Evening Standard
Aston Martin crashes to loss of £495m despite “iconic” brand status
Aston Martin crashed to a loss of almost half a billion pounds last year amid concerns about its finances.The luxury car maker insists demand for its products are high – sales rose 26% top £1.38 billion for the year to December.And it insists it is on track to hit targets for next year and the …
Business
Business Live
Losses more than double at Aston Martin
Luxury sports car maker Aston Martin has revealed annual losses more than doubled in 2022 as it blamed a £156 million hit from the weakened pound. The group posted a pre-tax loss of £495 million for last year against a loss of £213.8 million in 2021 after seeing the pound tumble in value against the …
Business
Evening Standard
Aston Martin Lagonda shares jump on hopes for better 2023 after widened losses
Aston Martin Lagonda has revealed annual losses more than doubled as it faced supply chain woes and took a £156 million hit from the weakened pound, but said profitability would improve in 2023.The luxury car maker posted pre-tax losses of £495 million for last year against losses of £213.8 million in 2021 after seeing the …
Business
Business Live
VR entertainment group eyes new acquisition after completing $25m sell-off
VR entertainment group Immotion is eyeing a new acquisition after completing a $25m deal to sell one of its divisions. The Greater Manchester-headquartered company has disposed of its location-based entertainment business (LBE) to LBE BidCo Inc for $25.2m. The deal was first announced last month. The division includes Immotion Studios, Immotion VR and C.2K Entertainment. …

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