Business News
Dive into the latest business news, market trends, and financial insights. Stay ahead with Creative Media News.
BT fined millions for not connecting 999 calls
BT has been fined £17.5 million for a "catastrophic failure" in its emergency call handling service, which resulted in thousands of 999 calls not being handled. The network outage, which lasted more than ten hours on June 25, last year, resulted in 14,000 emergency calls failing to connect. After examining the business that manages the 999 phone system, Ofcom stated that the telecom giant was "ill-prepared" to respond to the crisis and fell "woefully short of its responsibilities".
Mobile, broadband, and TV providers can’t charge mid-contract price hikes
A regulatory crackdown will safeguard consumers from unexpected price increases in mobile phones, television, and broadband services. Currently, most communications and internet companies boost their costs mid-contract due to inflation, frequently with an additional 3.9%. This might result in a 7.9 per cent increase in prices for millions of customers in April and May.
Amazon employees narrowly reject union in historic vote
The GMB nearly lost its unprecedented battle for union registration at an Amazon warehouse in Coventry. 49.5% of the workers polled voted in favor, while 50.5% voted against. The union required a majority vote in favor. If the GMB had won, Amazon would have recognized a union for the first time in the United Kingdom.
B&M blames ‘unseasonal weather’ for UK sales drop
B&M has attributed a drop in first-quarter UK sales to 'unseasonal weather' during a rainy April and May. The FTSE 100-listed bargain retailer reported a 3.5% year-on-year drop in like-for-like UK sales for the 13 weeks between March 31 and June 29, disregarding the timing of the Easter bank holiday. B&M said the fall was also influenced by 'exceptionally good' sales at the same time last year when UK revenues increased by 9.2 per cent.
CVC offers online trading platform Oanda for sale
Oanda, founded in 1995, was acquired by CVC Capital in 2018 and is now sold by bankers from Nomura and Santander. Oanda Global Corporation, an online retail trading platform, has been placed up for sale by its private equity investors. Bankers at Nomura and Santander are marketing the company, which competes with CMC Markets and IG Group.
Post Office boss Read ‘stepping back’ before Horizon inquiry testimony
Nick Read told staff that he plans to devote his "entire attention" to hearings in September that will look into existing Post Office practices. Nick Read, the Post Office's chief executive, is taking a temporary leave of absence to prepare for the next stage of the Horizon scandal inquiry. Mr Read, who succeeded the widely criticized Paula Vennells after she stepped down in 2019, told workers in a note that he wanted to devote his "entire attention" to the stage of the hearings in September that will investigate current Post Office procedures.
Hakluyt CEO Chandra to lead Labour business
Varun Chandra, who has led the corporate intelligence firm since 2019, is in line for a key business liaison position at 10 Downing Street. The CEO of Hakluyt, a corporate intelligence firm, is being considered for a prominent business position in Sir Keir Starmer's emerging Labour cabinet. Varun Chandra, Hakluyt's managing partner since 2019, is in advanced talks about joining the government.
Five ways 45p extra rate taxpayers can avoid savings interest tax
Many extra-rate taxpayers face tax bills on their savings interest, possibly unknowingly. HMRC expects to collect £10.37 billion in savings interest tax in the current fiscal year 2024-25. It anticipates a stunning £6.8 billion from extra-rate taxpayers, who do not receive a Personal Savings Allowance, unlike basic-rate and higher-rate taxpayers.
Vodafone and Virgin Media O2 extend their mobile-sharing deal
Vodafone and Virgin Media O2 have agreed to prolong their existing mobile network-sharing arrangement, which will be extended further if Vodafone's proposed merger with Three UK is approved. The Competition and Markets Authority is now considering a final ruling on Vodafone and Three's proposed merger. Vodafone and Virgin Media O2's new long-term agreement calls for the bigger Vodafone-Three business to sell spectrum to Virgin Media O2, which the firms claim will boost mobile connectivity, choice, and competition.
Why has the Tories slowed UK economic growth?
As the United Kingdom prepares for a general election on Thursday, one subject has become particularly important to voters: the status of the economy. The UK's economy has slowed significantly since the Conservative Party took control 14 years ago. When the immigration-driven population increase and the years preceding the global financial crisis are considered, the slowdown becomes even more pronounced.
How do I start affiliate marketing?
Affiliate marketing has emerged as a lucrative opportunity for individuals and businesses alike in the UK, offering a pathway to generate passive income through online referrals and promotions. As one of the most accessible forms of online entrepreneurship, affiliate marketing allows you to earn commissions by promoting products or services from other companies. This guide is designed to provide you with a clear roadmap on how to embark on your affiliate marketing journey specifically within the UK market.
Nine of 10 top global firms violate human rights
More than 90% of the world's 2,000 most influential firms, including Amazon, BMW, Nestle, Rio Tinto, Pfizer, Shein, and Standard Chartered, are failing to fulfil society standards for human rights, working conditions and corporate ethics, according to a first-of-its-kind study. Despite accounting for 45 per cent of global income, the world's top firms still need to take advantage of the opportunity to improve the lives of hundreds of millions of people, according to research released on Tuesday by the nonprofit World Benchmarking Alliance.