Biden says car workers deserve ‘fair share’ during UAW strike.

Creative Media NewsMonday, 18 September 2023, 4:000

US President Joe Biden has sided with striking employees in a pay dispute with three of the nation’s largest automakers. On Friday, nearly 13,000 employees at three facilities owned by General Motors, Ford, and Stellantis walked off the job. Companies and the United Auto Workers (UAW) union are at odds over the terms of new...

Ashley will sell Missguided to Shein.

Creative Media NewsMonday, 18 September 2023, 2:000

After Frasers Group saved Missguided from bankruptcy 18 months ago, Shein, worth $66 billion (£53 billion), is in talks to buy it. Mike Ashley, a billionaire in the retail industry, is in negotiations to sell the online clothing brand Missguided to Shein, a Chinese-founded online fashion behemoth. Shein is in talks to buy its first...

UAW strike causes US auto employees to quit.

Creative Media NewsSaturday, 16 September 2023, 16:000

Three of the largest automakers in the United States have gone on strike in an unprecedented coordinated action. More than 10,000 employees are participating in the strike, which affects three General Motors (GM), Ford, and Stellantis facilities. Companies and the United Auto Workers (UAW) union are at odds over the terms of new labor agreements....

London Fashion Week: Luxury Stocks Do Better Than High Street Brands

Creative Media NewsSaturday, 16 September 2023, 14:000

London Fashion Week begins this Friday and continues through Tuesday, September 19; however, which top brands are best positioned to keep your portfolio looking chic? In the last five years, luxury fashion equities have generated returns that are more than four times those of their high street counterparts, according to an analysis by the trading...

American business 777 Partners bought Everton FC.

Creative Media NewsSaturday, 16 September 2023, 10:000

The Premier League club was in financial difficulty and faced relegation. Everton has been sold for an undisclosed amount to the Miami-based investment firm 777 Partners. The current proprietor, British-Iranian businessman Farhad Moshiri, will transfer 94.1% of the losing Premier League club to the American fund. Everton stated that they have “secured the complete financing”...

CBI warns of new departure amid manufacturing tie-up talks

Creative Media NewsFriday, 15 September 2023, 12:000

Some of the business group’s members have stated that they will terminate their memberships if it agrees to merge with Make UK, as it is in danger of running out of money. Some of the CBI’s remaining members have threatened to sever ties with the crisis-plagued advocacy group if it completes a merger with Make...

European Central Bank raises rates 10 times to record high.

Creative Media NewsFriday, 15 September 2023, 4:000

The Bank has increased its deposit rate by 0.25 percentage points to 4%. Interest rates may have peaked, but commentators expect them to stay put for months. To battle inflation, the European Central Bank’s benchmark interest rate is at its highest level since the euro’s 1999 inception. At the most recent meeting of the governing...

US inflationary pressures persist as fuel costs increase

Creative Media NewsThursday, 14 September 2023, 20:000

Consumer prices in the US rose by more than expected last month, led by higher costs for rent and fuel. The inflation rate, which measures the rate of price increases, increased from 3.2% in July to 3.7% in August, according to the Labour Department. The numbers show regulators’ struggles to stabilise prices, which climbed at...

Wilko to be bought by Range for £5m

Creative Media NewsThursday, 14 September 2023, 8:000

The Range is finalizing a £5 million agreement to acquire the Wilko brand after a rescue deal for the entire company failed. The Wednesday announcement will give it ownership of Wilko’s website and options to sell certain of its products. The agreement will not prevent 400 Wilko stores from closing in Britain, however. The closures...

BP CEO Bernard Looney quits £10m over ‘past ties with coworkers’

Creative Media NewsWednesday, 13 September 2023, 18:000

The 53-year-old incumbent had held the position for less than four years. The energy giant said in a statement that he confessed to not being “fully transparent” about his relationships with staff. BP’s shares have been dented following the shock resignation of its head amid allegations over “personal relationships with colleagues”. Last night, Bernard Looney...

Google antitrust trial: Tech titan denies monopoly abuse.

Creative Media NewsWednesday, 13 September 2023, 12:000

Google has refuted claims that it is the largest search engine in the world due to unlawful practices, stating that switching to another company requires “literally four taps.” The company’s lawyer made the declaration in court on Tuesday in Washington, DC, where it is on trial for monopoly. This case is a significant test of...

All Wilko stores will close, affecting 12,500 employment.

Creative Media NewsTuesday, 12 September 2023, 20:000

As a result of the collapse of a rescue plan for the chain, Wilko will vanish from British high streets. The GMB union has stated that all 400 stores will close by the beginning of October in the United Kingdom. All 12,500 employees of the family-owned business will probably be laid off. It is believed...

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