August 12, 2023
Amazon asked by minister to justify temporarily withholding sellers’ funds
The government has demanded answers from Amazon after its recent policy change led to hundreds of sellers being unable to access their money. In a letter seen by the BBC, small business minister Kevin Hollinrake asks the tech giant to explain how it…
August 9, 2023
Amazon sellers complain site is withholding money
Hundreds of Amazon sellers have complained that the online marketplace is withholding their money. Amazon said it emailed sellers about a 'delivery date based reserve' which holds some money in case of refunds. But some sellers have written to their…
August 7, 2023
Adidas generates millions from Yeezys after Kanye West split
Adidas generated millions from its first "drop" of Yeezy trainers after ending the collaboration with rapper and fashion designer Kanye West. The sportswear giant reported sales of €400m (£344m) from the shoes between April and June this year.…
August 6, 2023
Best July in three years for car registration, SMMT says
UK car sales have grown all year, despite borrowing becoming more expensive and a cost of living crisis creating difficult financial conditions for consumers. The number of new cars registered grew 28% in July, compared to a year earlier, in the…
August 1, 2023
Etsy accused of ‘destroying’ sellers by withholding money
Online marketplace Etsy has come under fire from sellers for putting 75% of their takings on hold for 45 days. Hundreds of small businesses recently got an email from Etsy notifying them it was actioning its "reserve system". Ceramics seller Rachel…
July 27, 2023
Spotify raises premium subscription price for millions
Spotify is raising the price of its single-account premium plan for the first time since 2011 and hiking other services as well. In the UK, subscriptions will rise by £1 a month to £10.99 for an individual plan, £14.99 for a premium duo plan, and…
July 25, 2023
Twitter rebrands as X and kills off blue bird logo
Twitter has changed its brand and logo from its famous blue bird to "X". The new white X on a black background has replaced the bluebird on the desktop version of the social network, although is yet to appear on the mobile app. "Tweets" will also be…
July 17, 2023
Twitter loses nearly half advertising revenue since Elon Musk takeover
Twitter has lost almost half of its advertising revenue since it was bought by Elon Musk for $44bn (£33.6bn) last October, its owner has revealed. He said the company had not seen the increase in sales that had been expected in June, but added that…
July 10, 2023
Top US senator calls for probe into KSI and Logan Paul energy drink
US Senate Majority Leader Chuck Schumer has called on regulators to investigate an energy drink promoted by high-profile YouTubers KSI and Logan Paul. Mr. Schumer alleges the drink is being targeted at children despite its high caffeine content.…
July 4, 2023
Energy firms warned against paying dividends
Energy suppliers have been warned they should retain profits rather than pay out returns to shareholders, to ensure firms can weather future price shocks. Regulator Ofgem said firms "must learn the lessons of the energy crisis", adding "a return to…