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More doom and gloom was cast upon the high street this week as Orla Kiely, the fashion and homeware retailer, ceased trading following the collapse of parent company Kiely Rowan. Directors of Kiely Rowan placed the company in creditors voluntary liquidation after some “challenging” years in both online and high street retail. According to Companies House records turnover of Kiely Rowan grew from £7.2m to £8.3m, however...
Following a joint investigation by the Competition and Markets Authority (CMA) and the Financial Conduct Authority (FCA), banks will now be required to publish their customers’ satisfaction scores on their websites, apps and in their branches. The new requirement aims to improve competition in the banking sector, and provide consumers with better information in regard to the services that banks offer. Under the new rules, banks...
Research carried out by comparison website comparethemarket.com has revealed that more than £2 billion has been stolen from individuals’ debit and credit card accounts in the last year. The research found that 4.7 million people across the UK have been victims of fraud in the last year. According to comparethemarket.com, almost five million individuals have had their debit card, credit card or bank account replaced or cancelled...
Figures published by the Office for National Statistics (ONS) have revealed a boost in UK economic growth. The UK economy grew by 0.4% in the three months to June, the ONS revealed – a rise when compared to growth of 0.2% recorded in the first quarter of 2018. Real household disposable income per head increased by 1.4%, representing its biggest increase since the fourth quarter of 2015. However, the data also showed that the...
Business groups, including the Confederation of British Industry (CBI), the British Chambers of Commerce (BCC) and the Institute of Directors (IoD) have responded to the Bank of England’s decision to raise interest rates for the second time in a decade. Members of the Bank’s Monetary Policy Committee (MPC) voted to raise interest rates from 0.5% to 0.75% – representing the highest level since March 2009. Bank of England Governor...
