Trade bodies welcome proposal from cross-party culture committee that would prop up grassroots gig venues without passing cost to consumers A group of MPs are calling for a ticket levy on concerts at UK arenas and stadiums to raise funds for grassroots venues that are struggling with rising costs and the risk of closure. A VAT break for smaller venues has also been recommended in an inquiry report signed by MPs in the culture, media and sport committee, which emphasises the importance of these venues to the wider music ecosystem ..read more

When is a book not a book? When it is performed by a starry cast of hundreds. Except it has always been more complicated than that News this week of a 17% hike in the UK’s audiobook sales might seem like a niche business story, but it raises an existential question. What exactly is an audiobook today? Is it a book? Is it a play? Or is it becoming something else entirely? What is clear is that a jostle for market dominance is driving it into new dimensions. The streaming platform Spotify followed its move into podcasting two years ago with the launch of an audiobooks business. Though it has yet ..read more

Sources say Singapore-based online fashion retailer founded in China prefers a float in New York but faces tougher scrutiny than expected The fast-fashion company Shein is stepping up preparations for a London listing after its attempt to float in New York faced regulatory hurdles and pushback from US lawmakers, sources have told Reuters. The online clothing retailer plans to update China’s securities regulator on the change of the initial public offering (IPO) venue and file with the London Stock Exchange (LSE) as soon as this month, said one source ..read more

Most people don’t realise that a £10 payment on a credit card costs over 11p to process, says Ruth Anderson Re the costs of our cashless society (Editorial, 1 May), I volunteer in a rural community shop. Finances are tight in this age of inflation and we need to watch every penny. We ask our customers to use cash where they can, particularly for small amounts. It costs us nothing to bank cash but a £10 payment on a credit card costs us over 11p to process. We have a free to use ATM, but nowadays many people only have a card on their phone, so they can’t use our ATM. This is especially so with ..read more

Exclusive: Defence ministry was told in recent days that staff details accessed but sources say SSCL knew in February The IT company targeted in a Chinese hack that accessed the data of hundreds of thousands of Ministry of Defence staff failed to report the breach for months, the Guardian can reveal. The UK defence secretary, Grant Shapps, told MPs on Tuesday that Shared Services Connected Ltd (SSCL) had been breached by a malign actor and “state involvement” could not be ruled out ..read more

GDP rose by 0.6% in first quarter of 2024 but forecasters expect economy to grow slowly this year Analysis: Boom-boom Britain it ain’t The UK is officially out of recession after figures showed the economy grew by 0.6% in the first three months of the year. The Office for National Statistics (ONS) said the period from January to the end of March marked a return to growth after a mild recession in the second half of 2023. It was the strongest rate of quarterly growth since the end of 2021, and a better performance than expected by economists, who forecast growth of 0.4% in the first quarter ..read more

Further job cuts likely as JLP says it is investing in automation as part of ‘simplifying the way we work’ Business live – latest updates The owner of John Lewis and Waitrose cut 3,500 jobs last year amid efforts to save costs in a tough market – but employed its first group chief executive on a more than £1m pay deal. The staff-owned group, which has 34 John Lewis department stores and 329 Waitrose supermarkets, said it employed 72,900 people in its annual report published on Thursday, down from 76,400 a year before, helping to reduce its pay bill to £1.79bn from £1.82bn ..read more

The woman told police she had been living inside the grocery store sign for roughly a year, and had been able to get electricity Contractors curious about an extension cord on the roof of a Michigan grocery store made a startling discovery: a 34-year-old woman was living inside the business sign, with enough space for a computer, printer and coffee maker, police said. “She was homeless,” said Brennon Warren, an officer with the Midland police department. “It’s a story that makes you scratch your head, just somebody living up in a sign ..read more

Company says latest delay at central London site bought for estimated £378m is due to water leaking into basement Ikea has pushed back the opening of its Oxford Street store to spring 2025 – about 18 months later than initially planned – after problems with water leaking into the basement. The site, previously occupied by Topshop, had been scheduled to open this autumn and that date had already been put back by a full year ..read more

Celebrity chef says businesses are ‘battling to stay afloat’ due to rising rent and food costs but industry still ‘vibrant’ Gordon Ramsay’s restaurant empire tripled losses to £3.4m last year as it spent millions of pounds on opening five new restaurants and the chef said businesses in the industry were “battling to stay afloat”. Sales at the celebrity chef’s dining establishments, which range from his Michelin-starred flagship Restaurant Gordon Ramsay to Street Burger, rose by 21% to £95.6m in the year to 27 August. The group took on 290 more staff after a tough time during the pandemic lockd ..read more