UK retail sector sees fragile recovery

The UK retail sector is making a comeback with the rest of the economy.  A report from the Confederation of British Industry (CBI) shows that the high street is growing faster than at any time since the beginning of the recovery last September.

Almost half of high-street retailers report that their sales have gone up since this time last year, while just over ten percent said their receipts are down.

Yahoo & Tumblr – Will it have the same success as Google did with YouTube?

In May 2013, Tumblr was bought by Yahoo for an impressive $1.1billion; but will the merge be a successful one?

Tumblr was created by one man and it was his close relationship with the development of the site that helped keep it personal and user friendly.

Will the buyout ensure that the original use and purpose of the site is maintained, or will there be big changes?

Should big companies be allowed to offer their own degrees?

Few bosses would deny that having an educated and well-trained workforce is good for business.  But some companies seem to be taking that logic into questionable territory.

By offering degree-level qualifications for training in the retail and catering sectors, companies such as McDonald’s, KFC and now Asda risk making a mockery of both education and themselves.

Bosses also reap the benefit of offering staff perks

Here’s a novel idea. If your staff are entitled to employee benefits, it might be a good idea to let them know.  Because offering employees benefits such as private health insurance – and crucially, letting your staff know they’re entitled to them – reduces staff turnover and sick leave, which ultimately saves your business time and money.

Sports Direct revolutionises staff share schemes with £100k windfall

The John Lewis model ought now to be renamed the Sports Direct model.  The budget retailer owned by Mike Ashley has revolutionised employee ownership schemes by handing its shopfloor staff close to £100,000 after the value of its shares soared.

The John Lewis mutual partnership was previously held up as a the zenith of progressive business models, where profits were shared among staff, albeit very unevenly.

Ticket booking app YPlan secures big investment

We’ve known for a while now that apps are big business. Angel investors and even venture capital firms have shown time and again that they’re willing to pump big money into fledgling mobile apps. 

The latest of these is YPlan, a last-minute ticket booking app created by a London start-up, which has just secured £8m in investments to expand to the US.

The UK's service sector recovers

The UK service sector is apparently growing so fast that firms are struggling to cope with demand.  The Markit services purchasing managers’ index says growth in the sector is at a two-year high with a score of 56.9, which exceeded the expectations of analysts.

Growth has been so fast that service sector firms are experiencing the biggest work backlogs since 2007.  But despite hiring more people, the inability to cope with demand most likely stems from a lack of confidence in the economy as a whole.

Window shopping and 'showrooming' is hurting retailers

Are you a showroomer?  To put it differently, have you ever gone into a shop to browse the shelves with the intention of buying from an online retailer?  If the answer is yes, you’re not alone.  You’re in the majority.

A new study by the Booksellers Association has found that two thirds of people scout for products in shops before heading home to buy online.  The process, known as showrooming, is harmful to bricks and mortars retailers, who have higher overhead costs which are passed on to customers.

London's Silvertown Quays development

As Boris Johnson gives the go-ahead for a new ‘innovation quarter’ in London’s Royal Docks, what does it actually mean for the area and for business?

First off, and perhaps most important, it means the Silvertown Quays area will get a pretty serious makeover.  As the centre of London expands, new business districts have emerged in areas such as Stratford & North Greenwich, the current site of the O2 arena.  The Mayor claims it will create 9,000 jobs when work begins in 2015.

Apprentice runner-up Tom Gearing's business soars

The world economy may be going to pot, but the guy who came second in last year’s Apprentice is doing alright for himself.

According to London free paper City AM, Tom Gearing’s wine business is soaring after he fell at the last hurdle to become Alan Sugar’s business partner.

Going on the Apprentice may sound like a good idea after a few pints, but it's hardly a sound PR move for many candidates, who are usually selected for their hatefulness. 

What Auto Trader's decision to stop printing means for the industry

Another nail will be hammered into the coffin of print media in June, when Auto Trader ceases publication and moves all of its ventures online.

London's record share of UK economy

London is vastly outperforming the rest of the country in pretty much every sense economically, according to new research. This news was gloated about in the capital’s free business paper, City A.M., on Thursday under the headline ‘London Rules’.

O2 sells broadband business to Sky

O2 has sold its consumer broadband services to Sky. Rupert Murdoch’s telecoms giant has reached a deal with Telefonica UK, O2’s parent company, which will make Sky the second largest broadband provider in the UK.

Mike Ashley share sale hurts Sports Direct

What’s good for Mike Ashley isn’t necessarily good for his company. This week the tycoon who founded the budget retailer Sports Direct sold a 4% share in the company, but while he bagged £100m for 4% of his share, the markets turned against the company, with shares subsequently losing 7% of their value.

HSBC "not fit for purpose" says CEO

The boss of HSBC has had a moment of clarity.

“Our structure was not fit for purpose for a modern world,” said Stuart Gulliver, the bank’s CEO. The London-based firm has recently been plagued by scandal, in which it was found to have been involved with money laundering for drug gangs and terrorist-connected organizations all over the world.

Interflora Google

Take a moment to search for one of the UK’s biggest online flower shops by typing ‘Interflora’ into Google. You’d think the company’s website would be in the top two search results. It was, until a couple of weeks ago. But now the florist’s UK website has been removed from Google rankings after it caught them trying to buy their way to the top. 

Public Pressure made Goldman Sachs ditch bonus plans

Chief executive of Goldman Sachs’, Lloyd Blankfein has publicly admitted that the reason behind the bank’s decision to drop its plan to save its British employees millions of pounds in bonuses through tax avoidance schemes was due to media pressure and outrage.

Tax Fraud at an All Time High

Tax Fraud is now at an all-time high following the start of the recession.  The Vat gap is believed to be around £3.3bn and is being blamed on the HMRC being under-resourced according to BDO’s FraudTrack report.