Reeves’ taxes push inflation to 3.5 per cent in ‘Awful April’ May 21, 2025 Inflation bounced back up to 3.5 per cent in April, official data has revealed, underlining the cost burden firms are taking on after Chancellor Reeves’ tax hikes on employers and rise to the national living wage came into effect. Consumer price inflation rose by 1.2 per cent on a month-on-month basis, higher than the last [...]
Currys: Shares dip despite interest rates helping sales at retailer May 21, 2025 Electrical retailer Currys has reported a jump in profit after sales jumped thanks in part to a boost from lower interest costs. In a trading update on Wednesday, the firm said it expects pre-tax profit to come in at £162m, up 37 per cent year-on-year. Previous guidance had indicated profit for the period ending May [...]
M&S raises dividend after profit surge – despite cyber hit May 21, 2025 Marks and Spencer has boosted its dividend after reporting profit at a 15-year high, despite the significant impact of its ongoing attack. M&S told investors it would raise its yearly dividend by 20 per cent to 3.6p this year. The dividend boost came after the high street darling told markets that profit before tax and [...]
Red Bull diluted: Energy drink giant reduces stake in Leeds United May 21, 2025 Red Bull’s stake in Leeds United has reduced to below 10 per cent after the German energy drinks company declined the opportunity to invest in the issue of £120m of new shares ahead of the club’s return to the Premier League. The new funding has been provided by members of the 100-strong consortium of investors [...]
Pisces has the potential to flourish – if the FCA plays its cards right May 21, 2025 New Pisces markets could begin trading before the end of this year, in what the government hopes will be a boost for fast-growing companies in search of a stepping stone before reaching IPO. The framework, known as the Private Intermittent Securities and Capital Exchange System, will allow the creation of a new type of private [...]
Uber unveils tie-up with Eurostar challenger May 21, 2025 Uber is planning a partnership deal with one of the firms seeking to oust Eurostar as the sole operator of the Channel Tunnel. Gemini Trains, spearheaded by the Labour peer Lord Berkeley, is one of several competitors looking to break Eurostar’s 30-year monopoly on cross-channel services. Passengers will be able to book tickets via the [...]
UK SMEs could ‘unlock £78bn’ by using AI May 21, 2025 The UK’s small and medium enterprises (SMEs) could unlock up to £78bn for the economy over the next decade through greater adoption of generative AI. Despite the transformative potential of AI tools like ChatGPT, Copilot, and other large language models (LLMs), uptake among SMEs remains limited. Less than one in five small businesses are currently [...]
Charles Tyrwhitt to move London office HQ as profits climb May 21, 2025 British menswear brand Charles Tyrwhitt is set to relocate its head office from London Bridge to Bankside in a drive to occupy higher-quality, more sustainable space. Charles Tyrwhitt will relocate its 240-strong head office team to The Forge on Bankside, a few minutes walk from the Tate Modern. Alongside Charles Tyrwhitt, new occupiers include advanced [...]
Exclusive: Oberon AIM VCT relaunches in search of small cap rebound May 21, 2025 Oberon is relaunching its AIM VCT led by a team of City veterans as the firm prepares for a swell in valuations for small cap stocks. In a strategic repositioning of the former New Century AIM VCT 2, the venture capital trust will relaunch with an aim to raise £5m, with an over-allotment facility of [...]
Londoners working from home could boost pension pot by £236,000 May 21, 2025 Commuters could save hundreds of thousands of pounds in their pension pots by working from home three days a week, a new study has found. Working from home for three days a week reduces the annual cost of commuting by as much as £2,000, which when put into a pension, could pay big boons in [...]