Money

Millennial furniture retailer Made.com goes bust

Published

3 years ago

November 1, 2022

British online furniture retailer Made.com says it will appoint administrators after running out of cash.

Made.com now becomes one of the first retailers to fail as a result of the squeeze on household budgets across the UK this year.

The group says it intends to appoint administrators after talks to find a buyer failed. It had already suspended customer orders last week.

The online retailer grew during the pandemic when shoppers stuck at home in lockdowns spent money on sofas, coffee tables, lamps and the other items it sold.

But its troubles began when people started returning to their workplaces and cut back on discretionary spending, hitting sales hard.

Made.com’s rapid decline – it floated less than 18 months ago with a value of 775 million pounds ($894 million) – is a warning for retailers across Britain.

End of free spending

It comes as consumers cut back on discretionary spend in the face of rising energy bills, mortgage rates and food prices.

The company’s demise is likely to lead to job losses for its staff of more than 500 people, most of whom are based in London, as well as hit suppliers who are owed money.

It also adds to the pressure on high streets, which have been struggling for years with the growth of online retailing. Retailers have faced further challenges this year from government restrictions designed to stop the spread of COVID-19 infections.

Made.com is just one of the many retailers feeling the squeeze as consumer spending slows down.

The pandemic forced people to stay home and led to an increase in online shopping, but as people start returning to work, they are cutting back on discretionary spending.

Money

Australian Dollar surges: What $0.70 means for markets

Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.

Published

15 hours ago

February 18, 2026

Harvey Vargas

Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.

The Australian dollar has jumped more than 5 percent against the U.S. dollar this year, now trading around $0.70. This rapid rise has sparked mixed reactions for importers and exporters as Australia’s materials sector shows signs of bouncing back, despite concerns over rising interest rates.

Dale Gilham from Wealth Within breaks down the factors behind the AUD surge, the implications for commodities, and what it means for big miners like BHP. From profits to strategy, we explore how the market is reacting to this currency shift.

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#AustralianDollar #AUD #Forex #Investing #Commodities #BHP #Mining #Markets

Money

S&P 500 rises as financial stocks lead and tech slips

S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!

Published

15 hours ago

February 18, 2026

Harvey Vargas

S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!

The S&P 500 climbed 0.4% on Tuesday, boosted by strong gains in financial stocks. Citigroup and JPMorgan led the rally, showing investors are rotating money into the sector as tech stocks faltered.

Meanwhile, software shares struggled, with ServiceNow, Autodesk, and Palo Alto Networks all seeing notable declines. Concerns around AI disruption continue to affect the software and financial sectors alike.

Market watchers are now turning their attention to upcoming inflation reports later this week, looking for signals that could shape the next moves in the market.

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Money

Australia’s GST debate heats up amid tax reform push

Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.

Published

1 day ago

February 17, 2026

Harvey Vargas

Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.

Australia is facing a fierce debate over tax reform, with fresh calls to broaden the Goods and Services Tax as the government searches for more stable revenue streams. With an ageing population putting pressure on health, pensions and long-term spending, economists argue the current reliance on personal income tax may not be sustainable.

Dr Steven Enticott from CIA Tax joins Ticker to break down the real impact of expanding the GST, including how it could affect lower-income households, whether taxing unrealised gains would change investor behaviour, and what compensation mechanisms could soften the blow on essential goods. The political risks are high, but so are the fiscal stakes.

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