Black Friday hangover

Shoppers in debt

As shoppers splashed out £2.5 billion on Black Friday, retailers were raking in profits from buy now pay later schemes which push people into unmanageable levels of debt, according to new research. The Financial Conduct Authority (FCA) says one in three who use store credit fail to repay on time and are hit with fees and interest charges, and people with mental health issues are twice as likely to end up behind on payments according to the Money and Mental Health Policy Institute (MMHPI).

Fast cash not fast fashion?

Many new companies are springing up offering options to hire designer fashion for a short period of time, for a fraction of the price of buying it. Retail veteran Jane Shepherdson is the chairman of ‘My Wardrobe’, which also gives people who own high-end pieces the chance to earn extra income by renting their wardrobe out.

Once upon a time in Elstree

Sky is to base its new Hollywood-style film studio in north London, creating more than 2,000 new jobs. It’ll be a substantial weapon in the company’s fight against streaming opponents Netflix and Amazon. The 32-acre studio complex is set to be built in Elstree and will open in 2022.

Bank boss bonuses docked: The leadership team at TSB won’t get their bonuses this year. The reason? Their failure to meet gender diversity targets that sought to raise the number of women in senior roles to 45-55% by 2020. Instead of climbing, the percentage had dropped to 38% from 41% in 2017, causing the bank to scrap the commitment.