Currys commits to price freeze as full year profits jump July 7, 2022 Electrical retailer Currys committed to a price freeze on dozens of products today as it reported a jump in profits to £126m for the full year.
UK house prices hit average of £294,845 in largest growth spurt since 2004 July 7, 2022 House prices leaped in June in the largest increase of monthly growth since 2004, hitting an average of £294,845 after months of declining growth. Climbing ever-closer to the £300,000 mark, house prices jumped 1.8 per cent in June, after climbing one per cent in May, when the average cost of a home was £289,099, according [...]
More engineers needed to meet heat pump targets and net zero goals, reveals UK charity July 7, 2022 Not enough people are being trained as heat pump engineers to meet government targets for installations, warned charity Nesta.
Sign-up economy falls apart as Brits ditch costly subscriptions en masse due to fast-shrinking budgets July 7, 2022 New figures out this morning show that the growth of the “subscription economy” is stalling rapidly as living costs squeeze household budgets and people return to pre-coronavirus pandemic routines. More than a third (36%) of people say they have cancelled at least one subscription because their disposable income has fallen as interest rates and inflation [...]
Sink or swim: The peril of floating as an online media firm July 7, 2022 The excitement surrounding Buzzfeed’s IPO was palpable. It had a loyal following of millennials, millions of investment, and a private-market value of around $1.7bn (£1.4bn). Last summer, Buzzfeed founder and CEO Jonah Peretti said the float was about “taking the next step in BuzzFeed’s evolution, bringing capital and additional experience to our business”. He said [...]
London shops hit by falling footfall as Brits tighten belts amid inflation July 7, 2022 Central London shops may see a spending slowdown in the weeks to come, with city centres still reeling from the impact of office workers remaining at home, industry experts have warned. While the gap between 2019 footfall levels did narrow slightly in June versus May due to the Platinum Jubilee, sales lagged towards the end [...]
Pandemic-born businesses could add over £20bn to UK economy, study shows July 7, 2022 Businesses started during the Covid pandemic could add £20.4bn to the UK economy as the number of start-ups during the pandemic grew. About 800,000 companies were registered in the first year of the pandemic in the UK, 22 per cent more than the year before, a joint report by CBI Economics and NatWest showed. 80 [...]
London IPO activity plunges as market volatility puts a stop to listings boom July 7, 2022 The amount of cash raised via initial public offerings in London plunged in the first half of the year as firms pull back from the public markets amid extreme volatility and historic levels of inflation, new data has revealed.
GSK shareholders give Haleon split the green light July 7, 2022 Shareholders in British pharmaceutical giant GlaxoSmithKline (GSK) gave its historic demerger the “expected” seal of approval yesterday, meaning its consumer division will be able to list on the London Stock Exchange as a separate entity later this month. In the most significant corporate change at GSK for the last two decades, the split will see [...]
Investors pour £22m into real estate trust Impact Healthcare July 6, 2022 Investors have poured more than £22m into a London-listed healthcare real estate investment trust (REIT), the company’s board announced today. Impact Healthcare REIT, which specialises in care home investments, has grown its market capitalisation north of £450m since listing on London’s main market in 2017. The funds from a share placing, which the board announced [...]