Floom, an online florist, intends to flourish with a cash injection.

Creative Media NewsTuesday, 18 October 2022, 23:000

Floom’s founder, Lana Elie, is working with Interpath to evaluate strategic possibilities for the company she founded in 2016. After receiving millions of pounds from major venture capitalists, one of the most well-known online florists in the United Kingdom is seeking further funding. Floom has hired Interpath consultants to assist it with strategic options, which...

UK watchdog orders Facebook owner Meta to sell Giphy in “final judgment.”

Creative Media NewsTuesday, 18 October 2022, 21:000

After the UK’s competition regulator, the CMA, determined that the takeover could affect social media users and UK advertisers, Meta accepts that it must sell Giphy. The UK’s competition authority has ordered Facebook and Instagram owner Meta to sell the GIF library Giphy. The Competition and Markets Authority (CMA) stated that the verdict was “final.”...

Two-thirds of the mini-tax budget’s cuts were overturned.

Creative Media NewsMonday, 17 October 2022, 16:000

In an extraordinary action intended at comforting investors, the government would rescind “nearly all” of the tax cuts promised in the mini-budget released last month. Jeremy Hunt, the new chancellor, stated that his new initiatives, which include reversing an income tax cut, will generate £32 billion. The change follows economists’ warnings that the original tax...

Jeremy Hunt’s budget statement boosts the pound and lowers government borrowing costs.

Creative Media NewsMonday, 17 October 2022, 12:000

After plummeting to an all-time low against the U.S. dollar in response to the outgoing chancellor’s mini-budget, the pound has rebounded as it is anticipated that on Monday, Hunt would reverse more of the giveaway measures. The pound and UK government bond yields have recovered in expectation of an important declaration from the new chancellor...

Apple’s £249 AirPods Pro 2 headphones boast incredible noise reduction but inconsistent touch controls.

Creative Media NewsSaturday, 15 October 2022, 10:000

Wireless headphones and I have always had a love-hate relationship. While it’s great to be able to put them in your ears without having to bother about wires, and many versions provide advanced features such as active noise cancellation, it’s quite annoying to have to remember to keep them charged, and they often appear to...

Today, the Bank of England will end its government bond-buying program.

Creative Media NewsSaturday, 15 October 2022, 0:000

Pressure on gilts, or UK government bonds, eased on Thursday as the Bank of England increased its bond-buying activities to stabilize market sentiment. After attempting to calm the UK’s financial markets, the Bank of England will cease its government bond-buying program today. After the chancellor’s mini-budget sparked panic in the markets and a potential pension...

Royal Mail aims to eliminate up to 6000 positions by August.

Creative Media NewsFriday, 14 October 2022, 11:000

As a result of “gross mismanagement,” the Communication Workers Union is requesting an urgent meeting with the company’s board to submit an alternative business strategy. Royal Mail has declared that between 5,000 and 6,000 positions will be eliminated by August of next year. The postal service’s parent business made the statement in a trading update,...

World Chess calculates next move with £6.9m London float as Queen’s Gambit Netflix series boosts sport.

Creative Media NewsFriday, 14 October 2022, 4:000

World Chess is planning an $8 million (£6.9 million) IPO on the London Stock Exchange. The firm, which was created in 2017 with the intention of “expanding chess to the worldwide mass market,” hopes to go public in November under the ticker symbol CHSS. In recent years, chess has exploded in popularity, particularly during the...

IMF chief economist says mini-budget ‘complicated’ Bank of England’s inflation fight.

Creative Media NewsFriday, 14 October 2022, 0:000

The top economist of the International Monetary Fund predicts that inflation will “remain high [next year]” and that it will be an “environment where people’s wages will suffer more.” The chancellor’s mini-budget “complicated matters” for the Bank of England as it fought to reduce inflation, the head economist of the International Monetary Fund told. Pierre-Olivier...

A housing slowdown alert following a hike in mortgage rates

Creative Media NewsThursday, 13 October 2022, 15:000

The number of people who are unable to pay their mortgages is projected to reach a 15-year high, prompting fresh fears of a housing downturn. According to the Royal Institute of Chartered Surveyors (RICS), house sales in September reached their lowest levels since the height of the pandemic. Increasing mortgage rates will cause a decline...

Nikpay, a prominent City attorney, is in the running to head the competition regulator.

Creative Media NewsThursday, 13 October 2022, 6:000

Ali Nikpay, a lawyer at the American law firm Gibson Dunn, is among the candidates being considered by Jacob Rees-Mogg for the position of chief executive officer of the Competition and Markets Authority. A prominent City attorney has been shortlisted for the position of chief executive officer of the competition watchdog. Ali Nikpay, a lawyer...

The economy unexpectedly drops 0.3% in August, according to Office for National Statistics estimates.

Creative Media NewsWednesday, 12 October 2022, 9:000

As pundits anticipate a recession, the July expansion was also lowered downward. In August, the economy unexpectedly contracted by 0.3% compared to the previous month. Additionally, the previously reported 0.2% expansion for July has been cut down to 0.1%. The Office for National Statistics released its most recent report on the United Kingdom’s performance as...

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