Redrow share price boosted by share buyback announcement September 15, 2016 Housebuilder Redrow's share price was boosted three per cent in morning trading after the company said it would be initiating a share buyback programme. The FTSE 250 company recently posted record profits, but said fluctuations in the company's share price meant it would be aiming to buy back 10 per cent of its share capital. [...]
A tale of two retail sectors: Shares in fashion retailers fall as supermarkets jump September 15, 2016 It was the best of times, it was the worst of times in the retail sector today, as shares in retailers led both the risers and the fallers in the FTSE 100. Firmly in the spring of hope was the supermarket sector, where Morrisons led the risers, with shares jumping 7.13 per cent to 207.4p in [...]
Three signs the iPhone 7 will be a huge hit for Apple September 15, 2016 The iPhone 7 received a cautiously optimistic welcome when it was unveiled a week ago. While new features such as being waterproof and a shiny new jet black colour were largely surface changes rather than a revolutionary new direction for the brand, they were certainly likely to dazzle potential buyers, analysts thought. Apple has quite a bit riding [...]
Big brewer “beerhemoth” companies such as AB InBev and SABMiller are putting the craft beer revival under threat September 15, 2016 In a blow to hipsters and ale aficianados, big brewers' ability to provide significantly cheaper beer is at risk of undercutting Britain's thriving community of local, independent beer producers, the Campaign for Real Ale (Camra) has warned. More than 200 new breweries opened in the past year alone, with 1,540 now operating in Britain. However, the [...]
New service Stuart brings on demand delivery to customers of UK retailers September 15, 2016 A NEW on-demand service that aims to deliver products to customers in less than an hour by using retail outlets as mini-depots is launching in the UK today. Called Stuart, the French-backed business will focus initially on London after raising €22m in pre-launch funding from French postal service GeoPost, among others. It has developed a [...]
How business and politics reacted to the government go-ahead for Hinkley C September 15, 2016 The UK government gave the green light to plans to build the controversial Hinkley Point C nuclear power plant in Somerset today, but with a few revised conditions which should help allay its security concerns. The widely-watched decision has so far received a mixed reception across business and politics. While supporters applauded the project's ability to create [...]
John Lewis warns on job losses due to its commitment to staff pay September 15, 2016 The John Lewis Partnership warned this morning that it may be losing staff "over time" due to its paying its employees higher than the government-imposed national living wage. The company committed to paying workers "well above" the new national living wage, but said this had landed it with £33m in extra costs. If the department store had [...]
Next posts a fall in profits in “challenging and volatile” trading environment September 15, 2016 Announcing a fall in profits this morning, Next said that trading since its July sale had been "challenging and volatile". The figures Next's pre-tax profit fell 1.5 per cent to £342.1m, down from £347.1m a year earlier. It was weighed down by profit falls at Next Retail and Next Brand which dropped 16.8 per cent and [...]
Government approves Hinkley Point C nuclear power plant but with revised conditions September 15, 2016 The government approved plans to build the controversial £18bn Hinkley Point C project, but with revised conditions. The move, which paves the way for the UK's first new nuclear power plant in a generation, includes measures to ensure French utility giant EDF remains the controlling partner during the construction phase. Whitehall will also be able to intervene in the sale of [...]
Knowingly undersold? John Lewis profits fall 15 per cent – but not because of Brexit September 15, 2016 You know things are bad when the chattering classes stop spending: today John Lewis admitted things had gone downhill in the first half as market conditions worsened. The figures Profit before tax and exceptional items fell 14.7 per cent to £81.9m in the six months to the end of July, despite a 3.1 per cent rise in gross sales, to £5.27bn. Although [...]