Next Raises Profit Expectations Amid Strong Sales Performance

Creative Media NewsFriday, 22 September 2023, 14:000

Next, the leading fashion and homewares retailer, has revised its annual profit forecast for the third time in four months, attributing the positive adjustment to robust sales and effective cost management in the first half of the fiscal year. The high-street giant reported an impressive 5.4% surge in total group sales for the first half,...

Bank of England Leaves Interest Rates Unchanged After 14 Consecutive Hikes

Creative Media NewsFriday, 22 September 2023, 4:000

In a surprising turn of events, the Bank of England has decided to keep UK interest rates at their current level, citing a faster-than-expected deceleration in price increases. The interest rates have been maintained at 5.25%, which already marks their highest point in the last 15 years. This decision comes on the heels of a...

Poland stopped selling Ukraine weapons after grain dispute

Creative Media NewsFriday, 22 September 2023, 0:000

Amid a diplomatic dispute over Kyiv’s grain exports, Poland, one of Ukraine’s staunchest allies, has stated that it will no longer provide its neighbor with arms. Prime Minister Mateusz Morawiecki stated that Poland’s priority is to defend itself with more advanced armaments. Poland has already provided Ukraine with 320 Soviet-era tanks and 14 MiG-29 fighter...

The Bank of England keeps its interest rate at 5.25 percent.

Creative Media NewsThursday, 21 September 2023, 22:000

The result suggests mortgage rates have peaked, but the Bank cautions it may intervene further if inflation rises. After inflation fell more than predicted, the Bank of England maintained its interest rate at 5.25 percent a day. The monetary policy committee (MPC) of the Bank voted 5-4, the narrowest conceivable margin, to maintain the cost...

Toshiba may conclude 74-year stock market run

Creative Media NewsThursday, 21 September 2023, 18:000

Toshiba, one of Japan’s oldest and largest companies, will terminate its 74-year stock market history as a result of a majority stake purchase by investors. A consortium led by the private equity firm Japan Industrial Partners (JIP) has acquired 78.65 percent of the company’s shares, according to an announcement made by the company. The group’s...

Food costs slow inflation unexpectedly.

Creative Media NewsThursday, 21 September 2023, 8:000

The cost of living is now at its lowest level in over a year and a half as a result of the unexpected drop in inflation in August. Inflation, which measures how prices change over time, decreased from 6.8% in July to 6.7% in August, according to official data. This is the third consecutive month...

Inflation falls to 6.7% despite rising oil prices.

Creative Media NewsWednesday, 20 September 2023, 14:000

The ONS says that multiple factors lowered the unemployment rate last month, despite forecasters’ projections of a rise above 7%. The inflation rate has decreased to 6.7%, contrary to economists’ predictions that it would rise. The Office for National Statistics (ONS) reported that the consumer prices index (CPI) measure slowed in the 12 months to...

Evergrande wealth unit employees detained by China authorities

Creative Media NewsWednesday, 20 September 2023, 0:000

Police in Shenzhen, southern China, have detained members of the wealth management unit of the embattled developer Evergrande. In a social media post, police urged the public to disclose any suspected instances of fraud. On Friday, it was announced that the firm’s insurance division would be acquired by a newly constructed state-owned insurer. Since 2021,...

Twitter lost thousands of users for almost an hour.

Creative Media NewsTuesday, 19 September 2023, 18:000

Monday, X, formerly known as Twitter, was unavailable for more than an hour. Issues arose around 9:30 a.m. ET on the app and website. Users have reported that posts do not display properly on the platform. It is unknown what prompted the issues, but the app and website were back online by 10:30 a.m. ET....

BAE allows Saudi Arabia to join Tempest fighter jet development

Creative Media NewsTuesday, 19 September 2023, 4:000

The CEO of BAE Systems has opened the door for Saudi Arabia to participate in the United Kingdom’s premier fighter jet program. Charles Woodburn, the CEO of BAE, stated that the country has a talented workforce that could contribute to the success of the initiative. Woodburn spoke after it became known that the Saudi government...

Elliott, Waterstones backer, interested in Body Shop

Creative Media NewsTuesday, 19 September 2023, 2:000

Elliott Advisors is one of the parties that have made indicative offers for the British cosmetics chain in recent weeks. The proprietor of Waterstones is among a group of bidders circling The Body Shop after the cosmetics retailer’s Brazilian owner posted a “for sale” sign above the store. In recent weeks, Elliott Advisors, the investment...

Heineken acquires Ellie Goulding’s can cocktail stake

Creative Media NewsMonday, 18 September 2023, 14:000

Heineken has acquired a minority stake in the cocktail-in-a-can brand owned by Ellie Goulding. Served, which was founded in 2020 by the British singer alongside the entrepreneur siblings Dean and Ryan Ginsberg, produces premade mojitos, pina coladas, and alcoholic sparkling water Hard Seltzer for approximately £3 per can. Served said the Dutch brewing major deal...

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