London is no longer the most valuable stock exchange in Europe.

Creative Media NewsMonday, 14 November 2022, 22:000

France’s stock market has surpassed Britain’s as the most valuable in Europe, according to available data. According to Bloomberg data, a weak pound, fears of a recession in the United Kingdom, and rising sales at French luxury goods manufacturers are believed to be behind the shift. Paris has surpassed London for the first time since...

Ashley’s Frasers will buy Gieves & Hawkes

Creative Media NewsSunday, 13 November 2022, 19:000

Mike Ashley’s retail business is close to acquiring Gieves & Hawkes, one of the most recognized names in British tailoring. Mike Ashley’s retail conglomerate is nearing an agreement to acquire the struggling Savile Row tailor Gieves & Hawkes. Frasers Group is in advanced negotiations to acquire the brand, which was put up for sale earlier...

Amazon: Robots continue to proliferate, but “people are still necessary.”

Creative Media NewsSaturday, 12 November 2022, 12:000

Amazon is increasing its use of robots as sales growth slows and cost-cutting pressures mount. Already approximately 75 percent of the shipments delivered by the e-commerce giant have been handled by robots. In the next five years, though, Amazon Robotics’ chief technologist, Tye Brady, predicts that this percentage will reach 100 percent. The company refuses...

UK economy shrinks, recession looms.

Creative Media NewsFriday, 11 November 2022, 14:000

The economy of the United Kingdom contracted between July and September, according to the most recent official data. During the three months, the GDP shrunk by 0.2% due to the impact of rising costs on firms and households. A nation is in recession when its economy contracts for two consecutive three-month periods. The United Kingdom...

Official GDP figures reflect a first step towards recession.

Creative Media NewsFriday, 11 November 2022, 11:000

Early official estimates indicate that the British economy fell by 0.2% in the third quarter, prompting the chancellor to warn that the “tough path ahead” will need “very difficult decisions.” The number indicated the beginning of a recession. The Office for National Statistics (ONS) recorded a decrease in output for September, placing the gross domestic...

John Lewis, Tesco, and Lidl reduce their Christmas commercials.

Creative Media NewsFriday, 11 November 2022, 7:000

As usual, many Christmas advertisements on television evoke sentimentality, nostalgia, and happiness. As the cost of living rises, however, several shops have chosen a more subdued approach to their marketing campaigns this year. John Lewis stated that its campaign, which featured a foster family, was less about purchasing items and more about displaying generosity. However,...

Binance’s U-turn on FTX rescue worsens the crypto crisis.

Creative Media NewsFriday, 11 November 2022, 3:000

According to reports, regulators and U.S. officials are investigating as the FTX exchange teeters on the edge of collapse following a flurry of withdrawals that have left consumers facing significant losses. Overnight, Bitcoin lingered just over a two-year low, while other cryptocurrencies suffered significant losses as FTX teetered on the edge of collapse. It was...

Mental health crisis shrinks UK workforce, fueling personnel shortages.

Creative Media NewsFriday, 11 November 2022, 1:000

The number of people who are neither working nor looking for work has increased to about nine million, and statistics indicate that long-term illness and, in particular, mental health disorders are to blame. The United Kingdom is engulfed in a mental health crisis that is prompting workers to leave the labor force and fueling workforce...

Elon Musk tweets to the Northern Ireland secretary, “What does ‘tosh’ look like?”

Creative Media NewsThursday, 10 November 2022, 22:000

The billionaire owner of Twitter, Elon Musk, has reacted to the Northern Ireland secretary of state’s request to remove fake news from the platform. The debate occurred after Chris Heaton-Harris refuted resignation rumors after a bogus email was distributed. Mr. Heaton-Harris referred to the bogus resignation email as “total nonsense.” The richest man on earth...

Brexit-supporting Next CEO believes the country needs more foreign labor

Creative Media NewsThursday, 10 November 2022, 18:000

To alleviate labor shortages, the CEO of Next has urged the British government to allow more foreign employees into the country. Lord Wolfson, a prominent Brexit supporter, stated that the United Kingdom’s present immigration policy was stifling economic growth. He suggested that firms should be taxed for employing foreign workers to encourage them to hire...

Elon Musk sells nearly $4 billion additional Tesla shares after Twitter acquisition.

Creative Media NewsThursday, 10 November 2022, 3:000

The world’s richest man has again sold Tesla shares to earn cash but has yet to explain for doing so just days after laying off approximately half of Twitter’s employees. After completing his takeover of Twitter, Elon Musk sold about $4 billion (£3.46 billion) in Tesla stock. According to documents with the US Securities and...

M&S warns of an impending “storm” as rising prices erode profitability.

Creative Media NewsThursday, 10 November 2022, 1:000

The company asserts that it is in a strong position to overcome the challenges ahead, even though prices have negatively impacted its bottom line in the lead-up to the crucial Christmas season. However, its stock price plummets as it anticipates a difficult 2023. Marks and Spencer (M&S) has revealed a significant decline in profits and...

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