Thought leadership

Amazon investigating claims that some of it’s staff sold confidential customer data to third party

Amazon is investigating claims that some of its staff sold confidential customer data to third party companies. According to a Wall Street Journal (WSJ) report, employees of the e-retailer are offering internal data and other confidential information to independent merchants who sell their goods on the US giant’s website. The practice, which violates company policy, […]

UK economy

World Cup success and warm weather boosts UK economic growth

The UK economy grew more strongly than expected in July as the heatwave and World Cup boosted the retail sector. The Office for National Statistics said the economy grew by 0.3% in July, and by 0.6% over the three months to July – the fastest pace in almost a year. “Services grew particularly strongly, with retail […]

Services sector surprises economists with welcome boost

Britain’s large services sector – everything from restaurants to banking – surprised economists by picking up more strongly than expected last month. The sector, which makes up about 80% of the economy, saw many companies working at capacity with full order books. The services index, compiled by IHS Markit/CIPS Purchasing Managers’ Index (PMI), grew to 54.3 in […]

House of Fraser store closures to go ahead

House of Fraser has settled a legal row with a group of landlords removing one hurdle to a potential rescue deal. The deal means the department store chain can go ahead with its plan to close 31 of its 59 shops in January. The landlords had argued slashing rents on remaining stores was unfair to them, […]

Amazon tax bills fall as its profits leap

Online retail giant Amazon’s UK tax bill fell last year despite a near-trebling of profits. Amazon UK Services’ corporate tax bill was £4.6m, down from £7.4m a year earlier, latest accounts show. But the division, which operates the warehouse “fulfilment centres”, was able to defer £2.9m. It meant that the company paid £1.7m in tax, […]

Lloyds sets aside another £460M for mis-selling PPI claims

Lloyds Banking Group has said it has put aside another £460m in costs for payment protection insurance (PPI) mis-selling claims. That means it has now allocated more than £19.2bn to settle the claims. The bank said it expected 13,000 PPI complaints a week until August 2019. The provision came as Lloyds said its profits for […]