Author: Scott Dylan

HeyFlow, a female-founded software firm, has secured £235k in investment to expand its operations.The Bristol-based company focuses on eliminating workplace disadvantages for women through innovative technology.Funding from Aer Venture Studios will support HeyFlow’s tech platform and employee insight product development.Aer Ventures’ Geoff Wells will join HeyFlow’s board, signifying strong support for women-led startups.HeyFlow aims to reshape workplace dynamics to promote women’s inclusion and organisational profitability.HeyFlow, a software company founded by a majority female team, has received a significant investment of £235,000 to further its mission of addressing workplace disadvantages faced by women. The investment is a clear indication of growing…

Labour’s proposed tax adjustments are stirring concerns among major UK banks, including Lloyds, Barclays, and Natwest. This move is seen as an attempt to address a substantial deficit in public finances left by the previous administration.While a potential tax increase poses a risk to bank profits, industry analysts suggest that the impact may be mitigated through strategic financial adjustments. Lloyds and Natwest, in particular, are expected to reprice their loans to offset any potential losses.Potential Profit Decline for BanksAccording to Bloomberg Intelligence, the Labour Party’s proposed tax hike on banks could impact Lloyds, Barclays, and Natwest, potentially reducing their 2024…

Retail dynamics are shifting with notable changes in market share.Lidl observed a 9.1% growth in sales, bolstering its market share to 8%.Asda witnessed a 5.6% decline in sales, reducing its market share to 12.6%.Ocado continues its streak as the fastest-growing grocer with a 12.9% sales increase.Grocery price inflation has fallen, but consumer confidence remains low.Lidl’s significant growth in sales, recorded at 9.1%, has been instrumental in enhancing its market share to 8% during the latest quarter. This increase is attributed to effective digital voucher promotions for bakery items, which appealed to cost-conscious consumers.Conversely, Asda’s market performance has declined, with a…

Coventry-headquartered Mpac Group has announced a remarkable financial performance in the first half of 2024. The packaging automation specialist reported a pre-tax profit of £3.3 million and a 12 per cent increase in half-year sales.The company attributed its success to strategic decisions made in 2023, which included expanding and diversifying its customer base. Despite a minor dip in order intake, Mpac Group remains optimistic about its growth prospects heading into the second half of the year.Strong Financial PerformanceMpac Group, a packaging automation specialist, has reported a significant increase in revenue. The Coventry-headquartered company saw its half-year sales rise to £60…

Coventry-based biotech firm NanoSyrinx has succeeded in closing a significant £10 million funding round, attracting investment from Eli Lilly.The funding aims to further NanoSyrinx’s pioneering work on nanosyringe technology for targeted therapeutic delivery.Renowned investor groups BGF, Octopus Ventures, and M Ventures co-led the funding efforts, supported by existing investors.NanoSyrinx has announced Edwin Moses as its new Chairman, bringing extensive experience to the company’s board.The firm plans to enhance its intracellular delivery system potentially transforming treatment options for ‘undruggable’ diseases.Coventry-based NanoSyrinx has successfully completed a £10 million funding round, a considerable achievement in the biotech sector, which has drawn substantial interest…

Welsh Water has announced that Chairman Alastair Lyons will retire at the end of the year. Jane Hanson, a current board member, will assume the role from next year.Lyons, who has been with the company since 2016, endorses Hanson, citing her vast experience and knowledge of the sector.Transition in Leadership at Welsh WaterWelsh Water has announced the upcoming retirement of its chairman, Alastair Lyons, effective at the end of this year. Lyons, who has been with the company since 2016, will be succeeded by Jane Hanson, a current board member and chair of the audit committee. Hanson’s appointment will take…

Umar Kamani returns to PrettyLittleThing, promising customer-focused changes.Kamani, who had stepped down last April, is now reinstated, overseeing all operations.Free returns for loyalty members are being reinstated shortly after their removal.Past strategies will be reviewed, prioritising customer satisfaction in decision-making.Under Kamani, PrettyLittleThing rose to fame but recently faced financial challenges.Umar Kamani has decided to return to PrettyLittleThing, expressing intentions to revitalise the brand and focus intensely on customer needs. This move, as he describes, is a ‘new chapter for the fashion giant.’ Although he does not hold a specific title, Kamani will oversee all operational aspects of the business.To enhance…

Umar Kamani, founder and former CEO of PrettyLittleThing, has announced his return to the business.Kamani aims to restore the brand’s connection with customers, focusing on their needs and desires.He will reintroduce free returns for royalty members as one of his first actions.Kamani stepped down last April to pursue new goals, leaving leadership to Tom Binns and Nicki Capstick.Although not revealing a specific title, Kamani will work closely with current management across various aspects of the company.Umar Kamani, the founder and former CEO of PrettyLittleThing, has announced his return with a clear mission to reconnect the brand with its loyal customer…

Pizza Hut’s European division has reported a pre-tax profit of £9.3 million in 2023. This marks a significant recovery from a £106.4 million loss the previous year.The latest documents filed with Companies House reveal this financial turnaround, highlighting the company’s robust strategic adjustments and operational resilience.Financial Performance OverviewThe London-based arm of the global pizza chain has seen a modest increase in turnover from £29.9 million to £30.2 million. UK revenue showed a rise from £9.9 million to £10.4 million, contrasting with a slight decline in sales across the rest of Europe, which fell from £20 million to £19.7 million. These…

Labour’s Rachel Reeves is facing pressure to implement a £9bn tax on staff pensions as part of the Budget. This proposal has sparked significant debate among experts and policymakers.Concerns have been raised about the potential impact on employer contributions and the broader implications for pension tax reforms.The left-leaning think tank has put forward a recommendation for companies to pay National Insurance on contributions made to staff pension schemes. They argue that current tax relief on these contributions is “unnecessary” and “arbitrary.” The proposal aims to align the tax treatment of company contributions with the 13.8% rate applied to other employer…