British Gas admits agents break into struggling clients’ homes.

Creative Media NewsFriday, 3 February 2023, 2:000

The CEO of Centrica, the company that owns British Gas, is shocked that debt collectors have broken into the homes of vulnerable consumers to install energy meters. The Times discovered that British Gas debt agents were enthusiastic about installing meters in the homes of individuals with delinquent energy bills. This occurred when individuals acted on...

Children’s care reform: “I spent all my savings and now I can’t retire”: Kinship caretakers’ struggles.

Creative Media NewsFriday, 3 February 2023, 0:000

Today, the government is adopting measures to help keep children out of the foster care system, with £45 million budgeted for early intervention for struggling families. However, will this additional assistance be sufficient to reverse this trend? “There was no assistance whatsoever, and I found the first few months, if I’m being completely honest, to...

Shell claims the best profits in its 115-year history.

Creative Media NewsThursday, 2 February 2023, 18:000

In the wake of Russia’s invasion of Ukraine in 2014, the oil and gas giant Shell has declared record-breaking annual profits. In 2022, profits will reach $39.9bn (£32.2bn). Which is double the previous year’s amount and the biggest in its 115-year existence. Since oil and gas prices spiked as a result of the invasion of...

UK interest rates: What if they rise?

Creative Media NewsThursday, 2 February 2023, 14:000

The Bank of England is anticipated to raise interest rates for the tenth time at noon, although economists believe it is nearing its maximum level. After the meeting of the Monetary Policy Committee, it is predicted that the benchmark rate will increase from 3.5% to 4%. The rate has reached its greatest level in the...

Depositing cash Flagstone negotiating funding round

Creative Media NewsThursday, 2 February 2023, 6:000

Flagstone, which provides access to hundreds of savings accounts across dozens of institutions, is in discussions with advisors regarding a large financing effort. UK’s fastest-growing cash deposit system is in talks with investors regarding a major new financing round. Flagstone has been interviewing bankers in preparation for a proposed Series B capital raise. Wednesday, City...

Matchesfashion owner injects £60m to maintain online retailer

Creative Media NewsWednesday, 1 February 2023, 12:000

Apax Partners has agreed to infuse £40 million in equity and £20 million in additional debt into the online retailer of names such as Gucci and Valentino. The private equity investor of Matchesfashion, an online upscale fashion store, is injecting tens of millions of pounds into the company as it attempts a turnaround under its...

Top economist believes Brexit, labour shortages, and mortgage costs hold UK back.

Creative Media NewsWednesday, 1 February 2023, 2:000

The UK is expected to have the worst major G7 economy this year due to a lack of employees, pricey mortgages, and the continued effects of Brexit, according to the director of a prominent think group. In response to the International Monetary Fund’s prediction that the UK economy will contract by 0.3% in 2023, the...

UK grocery price inflation rises to record £788 per year.

Creative Media NewsTuesday, 31 January 2023, 18:000

In the United Kingdom, grocery price inflation has reached a new record high of 16.7%, adding about £800 to the average yearly grocery expenditure, with milk, eggs, and dog food experiencing the greatest price increases. In the four weeks leading up to January 22, according to retail researchers Kantar, inflation reached its highest level since...

Interest rates reduce UK mortgage demand.

Creative Media NewsTuesday, 31 January 2023, 16:000

As a result of rising interest rates, mortgage demand has fallen to its lowest level since the depths of the 2020 shutdown, according to the most recent government data. The Bank of England said that the number of home loan approvals fell to 35,600 in December from 46,200 in November marking the fourth consecutive monthly...

Ryanair and EasyJet are prepared to recruit Flybe employees

Creative Media NewsTuesday, 31 January 2023, 14:000

According to EasyJet and Ryanair, former employees of the defunct regional airline Flybe should apply for positions with their respective companies. Flybe entered into administration on Saturday, laying off 277 employees. British Airline Pilots Association (Balpa) reported receiving phone calls from concerned Flybe employees early Saturday morning. Martin Chalk, however, stated that there were jobs...

Rio Tinto apologises for Australia radioactive capsule loss.

Creative Media NewsTuesday, 31 January 2023, 12:000

Rio Tinto has apologized for the loss of a small radioactive capsule that went missing during shipment across Western Australia. Along the 1,400km (870 miles) course, an emergency search for the pea-sized gadget is currently underway. The capsule includes a small amount of radioactive Caesium-137, which could cause severe disease if inhaled. This could include...

Adani Group: Asia’s richest man faces fraud allegations.

Creative Media NewsSunday, 29 January 2023, 6:000

On Friday, the fortune of Indian billionaire Gautam Adani was reduced by more than $20 billion (£16 billion) after investors abandoned his enterprises for a second day in response to fraud allegations filed by a US investment firm. The Adani Group has denounced the allegations as malicious, but the reaction has done nothing to quell...

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