Kwarteng marks himself out as the most radical Chancellor since Lawson September 23, 2022 When Kwasi Kwarteng said he wanted to go for growth, it appears he meant it. Some will say the tax reforms announced today are ‘unfunded’ and reckless. Others will say it’s not the time for changes to banker’s pay. But in his ambition and his vision of a competitive Britain, the Chancellor has placed the [...]
Kwarteng calls strike action ‘simply unacceptable’ as govt looks at minimum service levels September 23, 2022 Chancellor Kwasi Kwarteng said it is “simply unacceptable” for strike action to disrupt lives, telling MPs the Government will seek to introduce minimum service levels before adding: “We will legislate to require unions to put pay offers to a member vote to ensure strikes can only be called once negotiations have genuinely broken down.” Mr Kwarteng said he would [...]
Kwarteng launches most radical tax cut programme in a generation September 23, 2022 Kwasi Kwarteng unleashed a tax cut bonanza in the House of Commons today, helping millions of Brits keep hold of more of their money
The Works continues post-pandemic comeback as arts and crafts sales soar September 23, 2022 The Works continues its valiant post-pandemic comeback as revenue climbs for the high street arts and crafts store. For the year ending 1 May, total revenue hit £264.6m for the retailer, up 46.5 per cent compared with 2021 levels. This was bolstered by the fact that two-year like-for-like sales climbed 10.5 per cent, with positive growth [...]
Made.com to cut staff as it mulls sale of the business September 23, 2022 Beleaguered retailer Made.com said it will conduct a strategic review of its future options, including job cuts and possible sale of the business. The online furniture and homewares firm came to market in January last year at a price of 200p per share, valuing the group at £775m. The shares have steadily slumped ever since [...]
Investec expects earnings per share and profits to climb despite volatile backdrop September 23, 2022 Investec said it expects profits to continue to climb as the specialist banking and asset management group rides out the volatile macro environment with diverse revenue streams. The firm said it expects adjusted operating profit before tax to be between £372.6m and £406.2m in its pre-close trading update, with the UK business’ figure at least 20 [...]
Top investor may go against £9.5bn Schneider takeover bid for AVEVA September 23, 2022 A top AVEVA investor is reportedly planning to go against a £9.5bn takeover offer by Schneider Electric because it represents an “opportunistic bid”. Peter Lampert said the bid, at £31-a-share would undervalue the UK technology group, the Financial Times reported. This comes after numerous major UK firms have been approached by foreign investors, including Ted [...]
Revolution Beauty calls in independent investigators over ‘serious’ auditing concerns September 23, 2022 Revolution Beauty has called in the investigators after auditors continue to flag “serious concerns”. The auditor BDO has recommended that the beauty firm appoint independent external advisers to carry out an independent investigation, adding to the initial announcements made last month surrounding “certain accounting issues”. Revolution said this morning that it has hired City law [...]
Exclusive: Northzone partner says London is still top of investor wishlist September 23, 2022 London is still at the top of European investors’ wishlists according to global tech VC investor Northzone. Having recently raised €1bn in its largest funding round to date, Northzone partner Kilian Pender reckons businesses are still betting big on the City. “While it’s hard to tell what impact economic downturns are going to have on the [...]
Jupiter to sell £100m stake in Starling Bank at steep discount on April valuation September 22, 2022 FTSE 250 asset manager Jupiter is in advanced talks to sell a £100m stake in Starling Bank at a heavy discount on its most recent valuation of £2.5bn. Jupiter Fund Management is in talks with several of the challenger bank’s existing investors, with a view to offloading a seven per cent share in the firm, [...]