Eurozone inflation rises faster than expected in October October 31, 2024 New 'flash' figures from Eurostat showed that inflation rose back up to 2.0 per cent, rising from 1.7 per cent in September and slightly higher than markets had expected.
Halloween Budget could still give businesses a fright in the night October 31, 2024 The Budget was not as shocking as some were expecting, but a few things could still go bump in the night, says Tim Sarson Today saw the delivery of one of the most hotly anticipated Budgets in living memory. After 14 years in opposition and an election manifesto with relatively muted tax rises, it must [...]
AI is about to go nuclear – so the UK needs to, too October 31, 2024 As the artificial intelligence (AI) industry hurtles headlong towards what can only be described as nuclear-level growth, the UK needs a matching energy source to keep up. But data centres, responsible for powering the floods of new generative AI models and applications, rely on vast, consistent energy supplies to keep their servers ticking. According to [...]
Game developer targets London for dual listing to expand Western reach October 31, 2024 Winking Studios, a Singapore-based game development giant, has announced plans to list on the London Stock Exchange’s AIM market, as it looks to strengthen its foothold in Western markets. Already listed on Singapore’s Catalist board, Winking says the dual listing will allow it to tap into the UK’s capital-rich tech investor pool and drive growth [...]
Huge debts at Titanic shipbuilder Harland & Wolff revealed October 31, 2024 Titanic shipbuilder Harland & Wolff owed more than £160m when it collapsed into administration last month, it has been revealed. Teneo was appointed to oversee the process at the 162-year-old holding company in September while its subsidiary firms, including its prized Belfast shipyard, will continue to trade under the control of the directors. Now a [...]
Sainsbury’s sells Argos credit cards for £720m in financial services retreat October 31, 2024 Sainsbury’s has struck a deal to sell its Argos credit card portfolio for roughly £720m as the supermarket withdraws further from financial services to focus on retail.
Hotel group PPHE reports double-digit growth after strong summer October 31, 2024 Hospitality real estate group PPHE has reported strong growth driven by higher occupancy rates in central and eastern Europe. The LSE-listed company posted record revenue of €125.4m (£104.8m), an increase of €12.6m, or 11 per cent, year on year. The firm, which is registered in Guernsey, said that demand continued to increase for its city centre hotels [...]
Labour’s inheritance tax reforms ‘threaten the very fabric of the countryside’ October 31, 2024 In yesterday's Budget, the Chancellor announced a sweeping overhaul of the inheritance tax system, including changes to a relief which had allowed agricultural land to be passed on tax-free.
Andy Murray-backed Castore slumps to loss despite sales surge October 31, 2024 Castore, the British sportswear brand backed by the likes of Sir Andy Murray and the billionaire Issa brothers, has slumped to a loss despite its sales jumping by £75m. The Manchester-headquartered business has reported a pre-tax loss of £28.8m for the year to 4 February, 2024, according to newly-filed accounts with Companies House. The loss [...]
Selfridges sinks further into the red as sales at luxury department store falter October 31, 2024 Luxury department store chain Selfridges has lost more than £400m since it last made a pre-tax profit, it has been revealed. The business, which has UK stores in London, Birmingham and two in Manchester, passed the milestone after falling to a £41.9m loss in the year to 3 February, 2024. It comes after Selfridges previously [...]