The Body Shop has been successfully rescued from administration, thanks to a consortium led by British cosmetics magnate Mike Jatania. The acquisition deal, finalised on Friday, will preserve the remaining 113 UK stores and secure The Body Shop’s international presence, including outlets in Australia and North America. Jatania’s growth capital firm, Auréa, co-founded with Paul Raphael, formerly of UBS, Credit Suisse, and Merrill Lynch, has acquired all of The Body Shop International’s assets. While the financial terms of the deal remain undisclosed, the new owners have committed to keeping all current UK stores operational. This move is expected to safeguard…
Author: Catch The Bus Week
Charlie Mullins, the renowned founder of Pimlico Plumbers, has listed his £12 million London penthouse for sale as he prepares to relocate abroad. The move comes in response to anticipated tax hikes under the Labour government, which has prompted Mullins to divest his UK assets. Mullins, who acquired the luxury apartment following the £145 million sale of his business in 2021, has stated his intention to have “no assets in the UK whatsoever” as he prepares for substantial tax changes. The penthouse, situated next to a property owned by singer Tom Jones and featuring its own bar, is now on…
Starting from 7 October, the cost of a first-class stamp in the UK will rise to £1.65, marking a 30p increase. This hike, the fifth in less than three years, reflects Royal Mail’s ongoing financial difficulties amid falling letter volumes. Second-class stamp prices will remain unchanged at 85p. The new price marks a significant rise from the 85p cost of a first-class stamp in March 2022, highlighting a near doubling of the price in just over two years. This follows an earlier increase of 10p in April, when first-class stamps were raised to £1.35 and second-class stamps to 85p. Royal…
Tenways Technovation EU, headquartered in Amsterdam, has officially launched its UK branch, Tenways Sport UK, marking a significant milestone in its international expansion. This move comes as part of Tenways’ strategic plan to strengthen its presence in the UK and enhance its dealer and service centre network. With the opening of Tenways Sport UK, the company is set to collaborate more closely with UK retailers and service providers. This local presence will facilitate the distribution of Tenways’ award-winning e-bikes, spare parts, and servicing support, made possible through a partnership with a UK-based warehouse and logistics provider. Local Leadership Appointments In…
In August, UK house prices surged to their highest point in two years, driven by increased confidence among homebuyers following the recent interest rate cut, according to the UK’s largest mortgage lender, Halifax. The average cost of a property in the UK rose to £292,505, reflecting a 4.3% increase compared to the previous year. This growth follows the Bank of England’s decision to lower interest rates at the beginning of the month, marking the first cut in four years. Halifax, which is owned by Lloyds Banking Group, noted that while the average property price is now just shy of the…
New research from RSM UK highlights a significant gap in sustainability planning among UK businesses. According to their latest report, “The Real Economy,” nearly one-third of UK middle market firms currently do not have a sustainability strategy in place, reflecting a gap between corporate practices and government commitments to clean energy. The study reveals that 30% of businesses are yet to establish a formal sustainability plan. Of these, 25% are considering implementing a strategy within the next year, while 5% have no plans to develop one. This underscores a broader issue of commitment to sustainability in the face of governmental…
A recent report has revealed that the UK will need to attract £1 trillion in investment over the next decade to achieve its ambitious economic growth targets. This significant influx of capital is essential to meet the government’s goal of 3% annual growth, according to a taskforce led by Sir Nigel Wilson, former CEO of Legal & General. To meet these targets, the Capital Markets of Tomorrow report estimates that the UK must secure £100 billion annually, with key sectors like housing, energy, and water infrastructure requiring substantial financial support. Specifically, the housing sector alone will need between £20 billion…
A recent study has found that UK business leaders are leading the way in incorporating technological expertise into their leadership teams. The report, conducted by Accenture, shows that the UK has rapidly enhanced the technological skills of its top executives, positioning itself as a leader in tech-driven innovation across Europe. Accenture’s UK technology lead, Emma Kendrew, highlighted the UK’s position in the global race to integrate new technologies. “British businesses have elevated their technology talent quickly, proving the UK is not just a hub of science and tech heritage but a leader in European tech leadership,” Kendrew said. She emphasised…
The UK is making a significant impact at SEMICON Taiwan 2024, with a larger delegation of British businesses eager to explore opportunities in the semiconductor industry. This year, the UK’s participation is led by Dr Dave Smith, the UK Government’s National Technology Adviser (NTA), and brings together 24 innovative companies from the semiconductor sector. The delegation showcases UK expertise in photonics, quantum technologies, memory, design, and manufacturing equipment, making it an even stronger presence compared to last year’s event. With 15 out of the 24 companies attending SEMICON Taiwan for the first time, the UK is eager to forge new…