What can we expect from a pre-Brexit Annual Budget? October 24, 2018 | City Talk The Budget is the biggest date in the UK’s financial calendar where the Chancellor, Philip Hammond, will deliver the government’s plans for tax and spending for the 2019/2020 financial year, starting in April next year. The Budget is a little unconventional this year as it usually falls on a Wednesday, but all you trick-or-treaters will [...]
Stobart boardroom battle spills over into the courtroom October 24, 2018 A bitter boardroom battle between Stobart and former chief executive Andrew Tinkler spilled over into the courtroom yesterday. The Southend Airport owner claims Tinkler led a conspiracy against the company in an unsuccessful attempt to topple chairman Iain Ferguson in July. Tinkler had supported The Edinburgh Woollen Mill owner Philip Day for the role but he [...]
Metro Bank profits treble as UK’s newest high street bank continues strong growth October 24, 2018 Metro Bank profits have trebled as the UK's first new high street bank in 150 years continues its strong growth. The bank, launched in 2010, reported underlying pre-tax profit of £39.2m for the nine months to 30 September, a 197 per cent increase on the same period in 2017. But the bank said competition in [...]
Mortgage approvals fall to six-month low in September as experts warn of ‘fragile’ housing market October 24, 2018 Mortgage approvals fell to their lowest value in half a year in September, according to the latest data from UK Finance, meaning every month of 2018 so far has dropped against 2017 approval numbers. Lending amounted to £21.5bn for the month, the lowest since the £20.6bn recorded in April and a drop of 1.2 per [...]
Quilter blames market conditions for fall in cash inflows in third quarter October 24, 2018 Wealth manager Quilter has blamed market conditions for a fall in net client cash flow (NCCF) to £1.1bn in the third quarter. Cash inflows (excluding Quilter Life Assurance) dipped from £1.9bn compared to the same quarter last year, a drop of 42 per cent. Read more: Quilter posts strong debut profits after growth in new [...]
Patisserie Valerie survives HMRC’s winding up petition as it looks into share option accounting irregularities October 24, 2018 A winding up petition against debt-ridden cake shop Patisserie Valerie has been dismissed, the company confirmed today. HMRC had sought to liquidate the scandal-hit firm over unpaid tax of £1.14m by seeking the order against parent company Patisserie Holdings' principal trading subsidiary, Stonebeach Limited, yesterday. Read more: HMRC seeks winding up order against Patisserie Valerie [...]
Stobart shares spiral on widening losses as boardroom battle takes its toll October 24, 2018 Southend Airport owner Stobart Group saw its losses increase by almost half in the six months to August, weighed down by ongoing legal disputes and an investigation into reports of bullying. Shares in Stobart fell over nine per cent as markets opened this morning. The figures Revenues at Stobart across its aviation, energy plants and civil [...]
UK energy supplier Yu Group shares plunge 80 per cent as it warns profits will vanish on bad debt and accounting concerns October 24, 2018 Shares in gas and electricity provider Yu Group collapsed today, plunging by as much as 80 per cent in early morning trading after a profit warning. The energy supplier to the UK’s corporate sector told investors that profits would fall by £10m, leading to a loss for this financial year. Read more: Neptune Energy hires [...]
Passengers warned not to travel to Waterloo station after major signal failure October 24, 2018 Rail passengers have been urged not to travel to Waterloo station this morning after a major signalling failure. South Western Railway advised passengers not to travel to Waterloo and to seek alternative arrangements. Read more: Revealed: London's worst train station Network Rail said in a statement: "There is a major signalling failure which is affecting [...]
We owe it to our City to take a stand against homelessness October 24, 2018 For the past six months, my daily entry to work has involved passing a young man who is rapidly decaying beside my office. I have seen his decline from reasonable togetherness to life in his own ordure. This, bear in mind, was through the warm summer months. As winter is coming and the weather starts [...]