Over half of councils have initiated pandemic fund payments.

Creative Media NewsMonday, 8 August 2022, 17:000

Businesses outside of the retail, hotel, and leisure sectors were not permitted to appeal their business rate payments and were instead guaranteed funding from a £1.5 billion support package; however, many councils have not yet begun making payments under the scheme. Almost 18 months after its inception, little over half of the councils in England...

Felixstowe strike to last eight days.

Creative Media NewsSunday, 7 August 2022, 12:000

According to the union, the strike will impact British supply chains, the logistics and haulage industries, and international maritime trade. In a disagreement over salary, workers at the largest container port in the United Kingdom will go on strike for more than a week later this month. More than 1,900 Unite union members in Felixstowe...

NEXT acquires a share in the floundering lifestyle store Joules.

Creative Media NewsSunday, 7 August 2022, 9:000

Next is in talks to acquire a substantial interest in the struggling fashion and leisure products retailer Joules. The retail giant is in detailed negotiations to acquire a 25 percent stake in Joules, a company whose shares have plummeted over the past year. Next has been in negotiations to purchase up to 25 percent of...

In the next three years, half of all first-time buyers will need parental cash.

Creative Media NewsSunday, 7 August 2022, 1:000

In the next three years, half of all first-time buyers will only be able to purchase a home with the help of their parents, according to data from a renowned estate agent. The analysis conducted by Savills reveals the true depth of the financial difficulties first-time buyers confront. It was discovered that 47% of all...

The governor of the Bank of England defends a rate hike ahead of an impending recession.

Creative Media NewsFriday, 5 August 2022, 14:000

The governor of the Bank of England justified the institution’s decision to raise interest rates, stating that there is a “real risk” that rising prices may become “entrenched.” The interest rate increase to 1.75 percent was the largest in 27 years, and inflation is now projected to exceed 13 percent. This year is anticipated to...

Is Hong Kong business AMTD Gamestop 2.0 after soaring 32,000% in two weeks?

Creative Media NewsFriday, 5 August 2022, 9:000

Since its Initial Public Offering a month ago, shares of a relatively unknown Hong Kong-based technology business have increased by up to 32,000%. AMTD Digital debuted on the stock exchange two months ago, generated $25 million in revenue in 2014, and employs only 51 people. At one point, its market capitalization was $300 billion, comparable...

As winter shock near, the campaign for an energy bill strike gains momentum.

Creative Media NewsFriday, 5 August 2022, 2:000

The possibility of families refusing to pay their soaring energy bills poses a dilemma for whoever succeeds Boris Johnson as prime minister and may place more pressure on domestic energy suppliers as they contend with record wholesale prices. A campaign urging individuals not to pay rising energy bills is gaining momentum, according to its organizers,...

AMTD Digital: How a modest Hong Kong company’s stock price rose.

Creative Media NewsThursday, 4 August 2022, 21:000

The stock market valuation of an obscure Hong Kong company has soared in recent days for no apparent reason. Last month, AMTD Digital debuted on the New York Stock Exchange at $7.80 per share. The firm’s shares have been on a rollercoaster ride this week, closing at $1,100 on Wednesday. Some analysts have compared AMTD...

It is commonly anticipated that interest rates will climb once more.

Creative Media NewsThursday, 4 August 2022, 13:000

On Thursday, the Bank of England will publish its latest interest rate decision, which is largely anticipated to be the sixth consecutive increase. The present interest rate is 1.25 percent, but the central bank could potentially raise it to 1.75 percent. If so, it would represent the highest level since December 2008. The Bank intends...

Ofgem confirms quarterly update of energy price cap: ‘Very tough winter ahead’.

Creative Media NewsThursday, 4 August 2022, 12:000

Ofgem asserts that the issue is mostly attributable to Russia’s invasion of Ukraine, contrary to the assertions of critics who assert that future energy bill increases will lead to more suffering. Ofgem has announced that the energy price cap would be adjusted quarterly, as opposed to every six months, and has warned that consumers risk...

The NEXT sentence indicates that warm weather and demand for formal clothes contributed to increased sales.

Creative Media NewsThursday, 4 August 2022, 11:000

The retailer’s financial success was usually aided by the mild weather, but it warns that this will not continue throughout the year and that inflation will also impact customer purchasing. In recent months, Next’s sales have been bolstered by the warm weather and demand for formal attire, the company claims. The British company reported that...

Services sector expansion was the smallest since February of last year.

Creative Media NewsThursday, 4 August 2022, 10:000

Demand has been stifled by the fact that consumers have less disposable income due to the rising cost of living, and that businesses are attempting to reduce their spending due to inflation. Since February of last year, when the majority of the country was still under COVID-19 restrictions, the service sector in the United Kingdom...

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