Online fast fashion firm Shein is planning to file paperwork for a potential London share listing as soon as this week, according to reports. An initial public offering (IPO) could value the company at around $66bn (£51.7bn). The firm, which was founded in China and now headquartered in Singapore, stepped up preparations for a share...
Just now David Silverberg,Business reporter Angela Jiang Angela Jiang swapped living in a tall apartment tower for a converted fourplex Angela Jiang says she is much happier since she moved out of a high-rise apartment building. She used to live on the 68th floor of a condo tower in downtown Toronto, but five years ago...
8 hours ago Evan Davis,Presenter, The Bottom Line, @evanhd BBC You want to step out of the world of wage slavery, and set up a business of your own? Preferably a business that will be more than a mere lifestyle for you – one that you can sell and from which you can retire on...
The proposed merger between Nationwide and Virgin Money is to be investigated by the UK’s competition watchdog. The country’s biggest building society announced the £2.9bn deal with its smaller rival in March. It is the largest banking merger since the 2008 financial crisis and create the UK’s second-largest provider of mortgages and savings. The Competition...
UK house prices returned to growth in May after rising by 0.4%, according to Nationwide, as buyers’ confidence was buoyed by wage growth and lower inflation. The average house price reached £264,249 this month, compared to £261,962 in April, the building society said. Mortgage rates in the UK have been comparatively high because the Bank...
The owner of the hit online game Wordle is legally challenging a geography-based spinoff called Worldle. In the filing, the New York Times, which purchased Wordle for a seven figure sum in 2022, accuses its near-namesake of “creating confusion” and attempting to capitalise “on the enormous goodwill” associated with its own brand. But the creator...
18 minutes ago Kevin Peachey,Cost of living correspondent Getty Images A new IFS report suggests sluggish income growth since 2009 and lower working-age incomes than other major economies Living standards have been in the doldrums, a new report has suggested, with calls for any new government to help boost productivity. The Institute for Fiscal Studies...
WeWork is set to emerge from bankruptcy, hoping that less debt and fewer offices will give it a new lease of life. The company which rents out shared office workspaces, founded in 2010 and once hailed as the future of the office, racked up losses during an aggressive global expansion. It filed for bankruptcy last...
The store has been responding to some shoppers directly on social media. A Sainsbury’s spokesperson said: “A network issue is intermittently affecting Smart Shop, some card payments in our stores and some of our same day delivery orders. “We’re sorry for the inconvenience this may cause and we are working hard to fix it.” The...
The next two biggest earners are VAT, which is paid on many purchases, and National Insurance (NI), which is another tax levied on people’s earnings. The OBR has forecast that VAT will raise £203 billion in 2024/25. However, the government said it expected to raise, external £2.2bn less from NI this year – about £168bn...