Motorists despair as petrol pump prices hit four-year high August 24, 2018 Summer silly season has hit a peak for motorists, as petrol pump prices jumped above 130p a litre for the first time since August 2014. Yesterday, average prices for petrol came in around 130.05p, while diesel stood at 132.72p. It's the most expensive petrol has been since 4 August 2014, and since 30 September 2014 [...]
Federal Reserve chair Powell defends interest rate increases following Trump’s criticism August 24, 2018 Federal Reserve chair Jerome Powell defended the policy of increasing interest rates to protect the economy today, following President Donald Trump’s attacks on rate increases. Powell said he believes the policy of gradual interest rate increases “remains appropriate” for the US economy. “The economy is strong. Inflation is near our two per cent objective, and [...]
Ryanair will charge you for 10kg hand luggage from November August 24, 2018 Ryanair passengers will have to make do with one item of carry-on baggage from November – unless they want to pay. The reason behind the move is "to eliminate boarding/flight delays", according to the budget airline. Nevertheless, passengers will have to pay £6 to add a 10kg cabin bag to their carry-on, with tickets otherwise [...]
New homes: All the new developments going on sale this weekend, including Help to Buy and Shared Ownership August 24, 2018 New developments on the market this week The Quarry, Bexley From £167,500 for a 50 per cent share of a £335,000 home Part-buy, part-rent 27 new homes in Erith on the border of London and Kent. Around 600 Shared Ownership and Help to Buy homes have been built on the site of a disused quarry [...]
Mortgage approvals drop as housing activity slump shows little sign of picking up August 24, 2018 Mortgage lending dipped in July, despite an uptick in homeowners seeking cheaper interest rates ahead of the Bank of England rate rise earlier this month. Approvals for mortgages fell 4.3 per cent year-on-year in July, having risen to a nine-month high in June, in a fresh sign that housing activity in the UK's property market [...]
Foot Locker steps up its game to beat analyst expectations August 24, 2018 Foot Locker surpassed Wall Street expectations today as it reported higher than predicted growth in both sales and earnings. The figures The sports retailer saw sales grow 4.8 per cent to $1.78bn (£1.39bn) in the three months to 4 August, pipping analyst estimates. Meanwhile net income climbed to $88m, compared to just $51m in the [...]
Disaster-struck TSB set to lose three of its executives August 24, 2018 Three top TSB executives are set to retire from the bank, which is still recovering from an IT meltdown that has cost it more than £176m to date. Treasurer Ian Firth and chief marketing officer Nigel Gilbert are both retiring at the end of next month, TSB confirmed today. Current marketing director Pete Markey will [...]
UK businesses, ignore Brexit and focus on becoming an exporter to global markets August 24, 2018 Beyond the political posturing and seemingly endless uncertainty, business leaders must make sense of Brexit and plot a course that protects revenues, employees, and even boosts performance. But how, in the uncertainty-shrouded fog where competing whispers incessantly predict both a golden future and recession, can this be done? Although many feel that the UK is [...]
DEBATE: Following news that Monzo is set to be valued at $1bn later this year, is the company overhyped? August 24, 2018 Following news that Monzo is set to be valued at $1bn later this year, is the company overhyped? YES, says Danny Bluestone, founder and chief executive of Cyber-Duck. Monzo has only been able to grow its cult following of tech savvy millennials because it allows them to get things done at the tap of a [...]
Petrofac sells North Sea interest as it retreats from oil production August 24, 2018 Petrofac abandoned another attempt at oil production today, agreeing to sell its interest in a North Sea field. The company is to hand back its 20 per cent share of the venture in Greater Stella Area to the operator, Ithaca Energy, for $292m (£227.79m). Ithaca, subsidiary of Israel-listed Delek, has cemented its hold in the region [...]