Burberry’s next creative director is Yorkshire-born Daniel Lee.

Creative Media NewsThursday, 29 September 2022, 9:000

Burberry has announced that Daniel Lee will succeed Riccardo Tisci as its new creative director beginning the next week. Tisci, 48, has presided over a revolutionary but turbulent period at the British apparel behemoth since becoming creative director four years ago. Before that, he held the same position at Givenchy for nearly a decade. Before...

The Bank of England intervenes to reassure markets

Creative Media NewsWednesday, 28 September 2022, 23:000

The Bank of England has stated that it will intervene to calm markets after the government’s tax-cutting plans prompted a decline in the pound and an increase in borrowing prices. It cautioned that continuing market volatility would pose a “material danger to the UK’s financial stability.” The Bank will immediately begin purchasing government bonds to...

Half-term airfares cost 42% higher than before the outbreak.

Creative Media NewsWednesday, 28 September 2022, 16:000

According to consumer group Which?, the average price of a one-way ticket for the October school break was £212, compared to £150 for the same period in 2019. According to a new analysis, half-term airfares are 42% more expensive than before the coronavirus outbreak. According to consumer organization Which?, the average price of a one-way...

shoppers paying a record 10.6% more than a year before on groceries.

Creative Media NewsWednesday, 28 September 2022, 14:000

The conflict in Ukraine continues to drive up the cost of animal feed, fertilizer, and vegetable oil, hitting margarine in particular. However, the summer’s heat has led the prices of various fruits and vegetables to decrease. Figures indicate that shoppers are paying a record 10.6% more for food than they did a year ago. In...

The IMF urges the United Kingdom against a mini-budget that will “likely worsen inequality.”

Creative Media NewsWednesday, 28 September 2022, 11:000

The IMF also cautioned against fiscal policies that do not target specific populations, stating that the current plans will favor the wealthy rather than those who truly require assistance. The International Monetary Fund (IMF) has criticized the UK government’s mini-budget, stating that the proposed tax cuts and expenditure will exacerbate inequality and undermine the Bank...

As the market reels after the mini-budget, mortgages are pulled from sale.

Creative Media NewsWednesday, 28 September 2022, 6:000

As a result of mini-budget market volatility, which has stoked fears of additional interest rate hikes, mortgage lenders in the United Kingdom are looking for an escape. Virgin Money and Skipton Building Society have temporarily withdrawn their complete product lines, and Halifax will no longer offer fee-based mortgages. The market volatility prompted by Friday’s tremor-inducing...

iPhone in India: Apple shifts production from China to India.

Creative Media NewsWednesday, 28 September 2022, 5:000

Apple has reportedly begun manufacturing the iPhone 14 in India, diversifying its supply lines away from China. In response to escalating tensions between Washington and Beijing, the business has relocated a portion of its phone production to other countries. During the epidemic, China’s ‘zero-Covid’ rules, which have prompted massive lockdowns, have also caused significant commercial...

Employees scramble for second jobs: “I felt I had no choice.”

Creative Media NewsTuesday, 27 September 2022, 22:000

Jude Harford would prefer not to have a second job, especially because she has young children, but she felt compelled to do so due to rising living expenses. The Poole mother of two states, “Everything is exorbitantly costly right now.” “We need the additional funds.” The Royal London study questioned 4,000 persons in the United...

After the decline of the British pound, the bank will “not hesitate” to increase interest rates.

Creative Media NewsTuesday, 27 September 2022, 20:000

After the pound sank to a historic low versus the US dollar, the Bank of England declared that it will “not hesitate” to raise interest rates to combat inflation. The Bank stated that it was “closely monitoring developments” and will decide on a course of action in November. Its declaration followed the Treasury’s announcement that...

Innovation projects earn £15m to make heat pumps cheaper and easier to install.

Creative Media NewsTuesday, 27 September 2022, 19:000

The government wants pumps to cost the same to purchase and operate as fossil fuel boilers by 2030, with significant reductions of at least 25 to 50 percent by 2025. Heat pumps may become less expensive and simpler to install in the future, as the government has granted over £15 million to innovative initiatives. It...

Mortgage lenders abandon transactions out of concern that interest rates may rise.

Creative Media NewsTuesday, 27 September 2022, 18:000

After a decline in the value of the pound fueled projections of a substantial hike in interest rates, banks and building societies withdrew several mortgage deals. Virgin Money and Skipton Building Society have ceased offering mortgages to new customers, while Bank of Ireland has withdrawn all mortgages from the market. Halifax stated that it will...

The majority of energy suppliers are instructed to strengthen assistance for struggling clients.

Creative Media NewsTuesday, 27 September 2022, 17:000

As winter approaches, Ofgem warns that vulnerable households will continue to bear the brunt of the impact if energy providers do not improve their customer service. The energy regulator disclosed that the vast majority of the nation’s energy suppliers have been instructed to improve their handling of customers who are failing to pay their bills....

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