Financial Conduct Authority introduces price cap as it cracks down on rent-to-own sector November 22, 2018 Rent-to-own companies will be hit with a price cap as the City watchdog cracks down on the sector. The schemes, which allow customers to purchase household items such as fridges and washing machines on credit, will be subject to a cap limiting the cost of the product and the charge for credit, the Financial Conduct [...]
FTSE investor CLS Holdings strikes confident tone as occupancy rates improve November 22, 2018 Commercial investor CLS Holdings posted a fall in vacancy rates this morning, striking an upbeat tone in the wake of new leases and lower debt costs. The FTSE 250 firm said that the vacancy rate across its markets fell from 5.7 per cent to 4.3 per cent during the trading period between July and November. [...]
Money in your pocket: UK salaries set to increase in 2019 November 22, 2018 Workers in the UK are expected to receive a 0.8 per cent real-term salary increase in 2019, double the increase received in 2018. The average UK private sector worker will receive an extra £20 per month or £237.35 per year before tax. This follows a better-than-expected salary increase for UK workers in 2018 of 0.4 [...]
Tesla cuts car prices in China on tariff fears November 22, 2018 Tesla has said it is slashing the prices of its Model X and Model S sedan cars in China, as it attempts to absorb the hit from US President Donald Trump's ongoing trade war with the region. Prices will be cut on its top two models by up to 26 per cent to make the [...]
Pound jumps after Britain and EU agree draft text for political declaration on future ties after Brexit November 22, 2018 The pound has jumped this morning following the news that the European Commission and UK negotiators have agreed a declaration on the future relationship between the two sides after Brexit. Reuters reported an EU official as confirming that the draft declaration had been agreed. It will now be inspected by national envoys of the remaining [...]
UK tech firm Aircharge launches wireless charging on London Waterloo’s South Western trains November 22, 2018 Trains on London Waterloo's South Western railway network have become the first in the world to debut wireless charging points for smartphones and tablets, helping commuters to grab that extra bit of power on their travels. Aircharge, the UK tech firm behind wireless charging points in Starbucks, Mcdonald's and Costa Coffee, has teamed up with train [...]
EU hospitality workers rank UK most desirable place to work November 22, 2018 Hospitality workers from across the EU have ranked the UK as the most desirable place to work, despite concerns about a shrinking workforce after Brexit. Sixteen per cent of workers in the hospitality sector named the UK as their top location, according to a survey of 21,000 employees carried out by Caterer.com. In addition, almost [...]
Glass half empty for retailer Majestic Wine as losses drive shares down November 22, 2018 Majestic Wine’s share price took a 14 per cent hit this morning after it posted half-year losses and predicted its full-year results to be “flat at best” against the year before. The figures The retailer posted a £200,000 loss for the six months to 1 October, down on a £3.1m profit for the same period last year. [...]
British Gas owner Centrica expects £70m hit from government’s energy cap November 22, 2018 Shares in British Gas owner Centrica dropped almost eight per cent this morning as it revealed a new cap on energy bills will cost £70m in the first quarter of next year. The £1,137 cap, revealed by regulator Ofgem earlier this month, is £68 lower than prices paid by 3.1m British Gas customers. It has [...]
Intu granted second deadline extension for Whittaker consortium takeover offer November 22, 2018 Shopping centre giant Intu has again extended the deadline for finalising a takeover offer, the company said today. Intu, which owns the Trafford Centre in Manchester, said a consortium of buyers now has until 5pm on 30 November to announce its firm intention to make an offer on the company. The consortium is made up [...]