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GMB Union slams Amazon pay offer as ‘joke’ as inflation drives record wage slump in UK
Workers union GMB has criticised Amazon over its pay offer for staff as wages continue to fall behind inflation. GMB said the tech giant’s 35p-an-hour raise for staff in the UK was a “joke” – and the company needed to “get real” on pay. Last week, hundreds Amazon staff at warehouses in Bristol and Essex …
Business
Evening Standard
£1.6 billion in cryptocurrency stolen as hackers exploit coding flaws
A record £1.6 billion worth of cryptocurrency has been stolen in hacks of services in the year to July 2022 as organised online criminals and nefarious state actors exploit vulnerabilities in decentralised finance.The sums are around 60% higher than for the same period a year ago, according to data from blockchain platform Chainalysis, and stand …
Business
Business Live
Admiral moves into the pet insurance market
Car insurance to loans giant Admiral has moved directly into the lucrative pet insurance market. As part of its diversification strategy the FSTE 100 firm, which employs more than 7,500 staff in South Wales, has launched its fourth insurance product it underwrites in Admiral Pet. It joins its other underwritten activities in motor, home and …
Business
Evening Standard
Swedish rival buys Fat Llama platform as Brits rent out personal belongings for extra income
London-based peer-to-peer rental firm Fat Llama has been snapped up by Swedish competitor Hygglo in a £34 million deal as cash-strapped Brits turn to tech solutions for extra income.The companies will combine to become the world’s largest peer-to-peer rental firm. Under the terms of the deal, Fat Llama will retain its name in the UK …
Business
Business Live
Broadband firm Ogi in major expansion of its Welsh network
Indigenous broadband provider and infrastructure company Ogi has confirmed a major expansion of its network reach across Wales in the latest phase of a £200m investment. Extending its roll out to Bridgend, Caerphilly and Rhondda Cynon Taf, Ogi will begin work in some of these areas immediately. The announcement brings Ogi’s ultrafast services to a …
Business
Business Live
Comment: A festival of business to leave a lasting legacy from Birmingham 2022
Birmingham 2022 made history and not only due to the amazing feats of its athletes. The event is on track to be one of the most successful Commonwealth Games ever, with over 1.5 million tickets sold. However, it’s vital the West Midlands doesn’t rest on its laurels but that we seize this opportunity to leave …
Business
Evening Standard
Homeowners warned interest rates could rise by further 0.5% next month
Millions of homeowners were warned on Tuesday that the Bank of England’s monetary policy committee could raise interest rates by a further 0.5 per cent next month – hiking their mortgage payments.Economists also stressed that the MPC could increase rates from 1.75 per cent to three per cent in coming months to try to tame …
Business
Evening Standard
New home on New Bond Street for Watches of Switzerland as sales defy cost-of-living crisis
Watches of Switzerland, the operator of the Rolex Boutique chain, is moving its flagship West End  store into bigger premises has reported increased group sales of almost a third as demand for luxury timepieces survives the cost-of-living crisis.Its leading London outlet is not moving far – from Bond Street to New Bond Street – but it …
Business
Sky News
Household food bills rocket at fastest rate in more than a decade, research shows
Shoppers saw food prices rocket by 11.6% over the past month – the fastest rate since at least 2008 – adding the equivalent of £533 to the average annual grocery bill, industry data shows. Market research firm Kantar said the inflation hike for the four weeks to 7 August was the biggest it had recorded …
Business
Evening Standard
BHP to make record dividend payment after coal recovery lights up its annual earnings
BHP, the world’s biggest mining company, is making a record dividend payment to shareholders, after coal prices surged in the wake of Russia’s invasion of Ukraine.Annual profit from operations at the FTSE 100 company rose 34% to over $34 billion, from revenue of $65 billion, up 14%. Its coal division returned to profit before tax …
Business
Sky News
Apple tells staff they must work in office for most of the week
Apple has told employees that they must get back in the office for at least three days every week.Like many companies, it is attempting to figure out what role its offices have after remote working prompted by the COVID-19 pandemic. Apple previously attempted to get staff back in the office in June 2021, only to …
Business
Sky News
Workers suffer record pay slump in face of rocketing inflation
Workers have suffered a record real-term pay slump in the face of soaring prices, official data reveals.Regular wages, excluding bonuses, plunged an average of 4.1% on the year in the three months to June when inflation is taken into account, according to the Office for National Statistics (ONS). It is the highest fall since records …

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