Jamie Young is Senior Reporter at Business Matters, covering SME finance, employment law and Westminster policy since 2016. He has reported on every Budget and Autumn Statement since 2018, helped make sense of the 'covid era' and the bounce-back loan scheme from launch through the fraud investigations, and broke the magazine's coverage of the 2024 late-payment reforms. He joined Business Matters straight from completing his BA in Administration from Exeter University and is NCTJ-qualified. Reach him at jyoung@cbmeg.co.uk
Soft toy brand Jellycat will pay £110m to its owners after pre-tax profits more than doubled to £139m in 2024, driven by viral popularity, global demand…
![Heathrow has said passenger numbers were 60% lower in November than before the coronavirus pandemic and there were “high cancellations” among business travellers concerned about being trapped overseas for Christmas as Omicron spreads. The UK’s largest airport said the government’s travel restrictions had dealt a fresh blow to travel confidence and predicted it was likely to take several years for passenger numbers to return to pre-pandemic levels. This week ministers said passengers arriving in the UK would have to take a pre-departure Covid test, as well as a post-flight test, because of fears about the spread of the new variant. “[The] high level of cancellations by business travellers concerned about being trapped overseas because of pre-departure testing shows the potential harm to the economy of travel restrictions,” the airport said in an update. Heathrow said the drop in traveller confidence owing to the new travel restrictions had negated the benefit of reopening the all-important corridor to North America for business and holiday travel last month. Eleven African countries have been added to the government’s red list, requiring travellers to quarantine before reuniting with families. “By allowing Brits to isolate at home, ministers can make sure they are reunited with their loved ones this Christmas,” said John Holland-Kaye, the chief executive of Heathrow. “It would send a strong signal that restrictions on travel will be removed as soon as safely possible to give passengers the confidence to book for 2022, opening up thousands of new jobs for local people at Heathrow. Let’s reunite families for Christmas.” Heathrow said that if the government could safely signal that restrictions would be lifted soon, then employers at Heathrow would have the confidence to hire thousands of staff in anticipation of a boost in business next summer. The airport is expecting a slow start to 2022, finishing next year with about 45 million passengers – just over half of pre-pandemic levels. This week Tui, Europe’s largest package holiday operator, said it expected bookings for next summer to bounce back to 2019 levels. However, Heathrow said on Friday not to expect the aviation industry to recover for several years. “We do not expect that international travel will recover to 2019 levels until at least all travel restrictions (including testing) are removed from all the markets that we serve, at both ends of the route, and there is no risk of new restrictions, such as quarantine, being imposed,” the airport said.](https://bmmagazine.co.uk/wp-content/smush-webp/2024/05/shutterstock_1100012546-768x513.jpg.webp)
Greggs will raise prices on selected items, including breakfast deals, to counter higher payroll costs. Shares jumped 7% after improved trading eased concerns over falling sales.
Diamond and gemstone marketplace Nivoda has secured a $60m facility from i80 Group to offer embedded trade credit to 10,000+ jewellery retailers, tackling a long-standing industry…
Spotify founder Daniel Ek will step back from day-to-day leadership in January to become executive chairman, as Gustav Soderstrom and Alex Norstrom take over as co-CEOs.
New research shows nearly a third of UK SMEs already use AI tools, with more set to follow. From Microsoft Copilot to cybersecurity, here’s how small…
Zoopla warns that speculation over stamp duty and council tax reforms is cooling demand for homes above £500,000, with luxury sales and listings falling ahead of…
YouTube will pay $24.5 million to settle Donald Trump’s lawsuit over his account suspension, with $22 million directed toward building a White House State Ballroom via…
Growth Lending has unveiled a £150 million strategy to support the expansion of healthcare and social care providers across the UK, pledging to deliver flexible capital…
Greater Anglia, West Midlands Trains and Govia Thameslink will be renationalised by May 2026 as the UK pushes ahead with bringing the rail network back under…
Make UK has appointed ex-MP and former Apprenticeships Minister Robert Halfon as Executive Director of Policy and External Affairs, bringing his skills expertise to the manufacturing…
Cybersecurity legend Peter Bauer backs Glasgow recruitment platform in record investment round
Britain is losing £2bn a year in tourist spending after scrapping tax-free shopping, with Reeves urged to restore VAT breaks as rivals France, Spain and Italy…
Barclays boss warns Rachel Reeves not to introduce new taxes on banks, saying it would “stifle growth” and risk driving jobs and lending out of Britain.
Tesco’s plan to rival Ocado with robotic warehouses in tatters after tech partner Attabotics files for bankruptcy. Future of AI fulfilment push now in doubt.
Luxury retailer Harrods hit by cyber breach as hackers steal customer data from third-party provider. Names and contact details exposed, but no payment info taken.