Premier Inn-owner Whitbread shares rise after robust third quarter January 12, 2023 Premier Inn owner Whitbread saw sales grow 22.9 per cent in the third quarter as Brits turn to budget accommodation options amid looming recession and cost-of-living concerns. The hotel operator reported an increase in demand for sales with accommodation 37 per cent above pre-pandemic levels in the UK and 770 per cent in Germany. Total [...]
UK review of ‘golden visas’ finds risk of links to corruption among wealthy foreign investors January 12, 2023 A “small” number of wealthy foreign investors were “potentially at high risk” of having links to corruption or serious organised crime, a review of so-called golden visas has found. Home Secretary Suella Braverman set out the findings after the government shut down the tier 1 investor visa route last year over security and financial crime concerns. Those eligible for the visa, [...]
Persimmon warns of sales slide as interest rate rises push up the cost of mortgages January 12, 2023 Persimmon achieved sales at the top end of its 2022 guidance, despite the mortgage crisis and the wider economic downturn in the second half of the year. The York headquartered company, one of the UK’s largest housebuilders, sold 14,868 new homes last year a rise of two per cent compared to 14,551 in 2021. The [...]
Tesla shares: How Musk made history with the biggest loss of personal wealth ever recorded January 12, 2023 The ongoing woes at social media microblogging site Twitter have impacted hugely on the wealth of its owner, the world’s richest person Elon Musk. Musk lost an estimated £135bn between November 2021 and December 2022, according to Guinness World Records. This means he holds the record for the largest ever loss of a personal fortune. [...]
The Gym Group: Brits ditch the pennies and the £s as more fitness fanatics seek cheaper gym membership January 12, 2023 The Gym Group today said it has continued to win over customers in the face of the UK’s cost-of-living crisis as Brits flocked to the low-cost gym in seeking out better “value for money”. The low-cost gym owner said it had increased its membership numbers by 14.3 per cent over the past year, to 821,000, [...]
This isn’t just a good Christmas: M&S retains ‘top turkey’ title as festive sales spike January 12, 2023 Once-troubled M&S continues to deliver positive news to investors with turkey sales helping give the firm a healthy Christmas period
Asos’ UK sales slip as analysts warn firm has a “mountain to climb” January 12, 2023 Pandemic darling Asos reported a further decline in UK sales this morning, with the fast fashion flagship’s boss insisting the firm was making good progress on a turnaround plan. UK sales slipped eight per cent year on year in the four months into December 31, with the firm blaming “weak consumer sentiment.” Fast fashion firms, [...]
Exclusive: City asset finance chief on how to stay calm amid eye-watering inflation January 12, 2023 Inflation numbers hit record levels in 2022, while the cost of living crisis raged and interest rates went through the roof. Without a doubt, it was – and continues to be – a turbulent and uncertain time for many players in the City and beyond. Time for City A.M. to catch up with Mike Randall, [...]
Ban forced prepayment meters says Citizens Advice as 160,000 Brits struggling to pay energy bills face compulsory switch January 12, 2023 Forced prepayment meter installations should be banned until new protections are introduced, argues Citizens Advice.
Got the minerals? China’s control of key metals poses challenges for green transition, IEA warns January 12, 2023 China's dominance over tight supply chains could jeopardise the global shift to green technology, warned a leading climate body.