Retail sector suffers worst Christmas in a decade as sales stagnate January 10, 2019 The UK retail sector has suffered its worst Christmas in a decade as sales stagnated during the crucial festive period, despite a string of positive updates offering a glimmer of hope. Overall retail sales were flat in December, the lowest level of growth since April and the worst festive performance since 2008, according to figures [...]
New visa for architects as trade body calls for ‘drastic reform’ of UK immigration system post-Brexit January 10, 2019 The Home Office launched a visa scheme for exceptional architects today as the Royal Institute of British Architects (Riba) argues UK immigration legislation needs a drastic overhaul post-Brexit to safeguard the £4.8bn industry. From today architects will be able to apply for Tier 1 (exceptional talent) visas – the first bespoke immigration category available for [...]
Luxury car maker Rolls-Royce achieves highest sales growth in 115-year history in 2018 January 10, 2019 Luxury car maker Rolls-Royce enjoyed a record-breaking year last year, as annual sales reached 4,107 cars – the highest in the marque's 115-year history. The main driver of growth was the company's Phantom model, which chief executive Torsten Muller-Otvos called "flight on land, a magic carpet ride in its purest form". Donald Trump-driven tax reforms in [...]
What a Guy: Terra Firma boss Hands employees hefty pay rise January 9, 2019 CITY tycoon Guy Hands more than doubled staff pay at Terra Firma last year in a bumper year for the private equity firm. Terra Firma Capital Partners rewarded employees after the firm’s revenue soared 73 per cent to £39m and profit in the year ending March 2018, according to its annual accounts published yesterday. The [...]
Short sellers release pressure on construction outsourcing giant Kier Group January 9, 2019 A period of sustained pressure from short sellers on contractor Kier Group has come to an end, with hedge funds cashing out on the company's stock market woes throughout December. At the end of November, 13.98 per cent of Kier’s shares – worth £102m – were held by short sellers betting against the company. That [...]
Passing May’s Brexit deal would make sterling surge, says JP Morgan January 9, 2019 The sterling would surge by at least four per cent if parliament approves Prime Minister Theresa May’s Brexit proposals in a planned vote next week, JP Morgan said. The bank’s asset management wing also warned about the potential impact of extending Article 50, something the government has ruled out. Karen Ward, the fund manager’s EMEA [...]
Historic Savile Row men’s tailor goes into administration January 9, 2019 Renowned Savile Row men’s tailor Hardy Amies has gone into administration for the second time in just over a decade. The historic fashion house, which was started by the Queen’s former dressmaker, is touting for buyers over its UK operations after “trading at a loss for some time”, its administrators said today. Menzies are urging [...]
Why London’s highest earners want to change jobs in 2019 January 9, 2019 Nearly a third of London's high earners plan to change jobs in 2019, according to new research released today. Many workers in the capital earning over £75,000 a year before bonuses admitted they were unhappy at work in 2018, with 32 per cent planning on changing jobs in the new year, a survey found. Read more: [...]
Will this be a year for investors to fear? January 9, 2019 A new year always offers the chance of a reset, of evolved thoughts, ideas and insights. Even though many will be pleased to see the back of 2018, numerous investors are beginning this year with new concerns: an oncoming recession. This fear seems suddenly rampant among many of my colleagues in the industry. But these fears [...]
Aisle be damned: The knives are out for big UK grocers January 9, 2019 Aldi and Lidl’s tills jingled all the way in December – handing them their highest-ever combined market share for the festive season, data from Kantar Worldpanel showed this week. All the major supermarkets lost market share in the 12 weeks to 30 December as Aldi’s sales jumped 10.4 per cent while Lidl’s were up 9.4 [...]