Wetherspoons: Pub group hikes dividend despite cost warning March 21, 2025 Pub giant J D Wetherspoon has reported a dip in profits in its half-year results despite an uplift in sales, while chairman Tim Martin warned that rising labour costs and tax disparities are set to hit the pub industry hard. Its share price fell more than seven per cent in early trades. Like-for-like sales rose [...]
UK ambassadors to have growth ‘KPIs’, foreign secretary tells trade summit March 21, 2025 The UK’s ambassadors will have “KPIs that contribute to our economic growth” as diplomats shift to a more economic mindset, the foreign secretary has said. David Lammy told an audience of businesses that he wants the Foreign, Commonwealth and Development Office (FCDO) to become the “international delivery arm of the government’s missions, the first of [...]
Consumer confidence ticks up but ‘little evidence’ of recovery March 21, 2025 Consumer confidence rose by one point in March as Brits became more pessimistic about their own finances but more optimistic about the UK’s. The overall effect was to push confidence up to -19 in March, from -20 in February and -21 in March last year. The index remained below its long-term average. “If consumer confidence [...]
Ukraine peacekeeping talks reaching ‘military plan’ stage, says Starmer March 20, 2025 Talks on the Ukraine peacekeeping force are reaching the stage of a “military plan” aimed at “keeping the skies safe”, Sir Keir Starmer has said. The Prime Minister has said the “timetable now is coming into focus”, and that if a deal comes to fruition, the so-called ‘coalition of the willing’ needs to be ready [...]
Stifel flags disclosure concerns from private equity trust March 20, 2025 Investment bank Stifel has flagged disclosure concerns in a private equity trust that has cut back on the level of detail it provides around its loans. While examining HgCapital Trust’s recent report and accounts, Stifel analysts claimed that there was less disclosure and commentary around debt in the fund than there had been a year [...]
NBA: Sixth Street backing $6.1bn Chisholm bid for Boston Celtics March 20, 2025 Private equity firm Sixth Street is reportedly part of William Chisholm’s $6.1bn takeover bid of NBA team Boston Celtics, in what would be a North American franchise record. The deal, if successful, would surpass the $6.05bn takeover of the NFL franchise Washington Commanders led by Josh Harris and Mitchell Rales. The Boston Celtics’ current owners, [...]
Poppy Gustafsson: UK can be ‘safe haven’ amid Trump turbulence March 20, 2025 The UK can be a beacon of stability to investors and businesses in a world where geopolitical tensions, and “populism and protectionism” are on the rise, the minister for investment has said. Citing the government’s large majority and internationalist outlook, Baroness Gustafsson trumpeted the UK’s offer of long-term certainty to investors, branding the country a [...]
Natwest partners with OpenAI as FTSE giant scales up tech March 20, 2025 Natwest announced on Thursday it has entered a partnership with OpenAI to focus on “bank-wide simplification”. The FTSE 100 lender said it would leverage AI to meet customers’ needs faster and more effectively, whilst increasing productivity and efficiency across operations. The firm said it would deploy “some of the latest and most powerful developments in [...]
Week in Business: Is Keir Starmer leading the UK into recession? March 20, 2025 Following the PM's punchy op-ed in City AM, Editor Christian May gives his reaction to Starmer's article and puts the Prime Minister's prose in context.
Bank of England holds interest rates amid low growth and trade tensions March 20, 2025 The Bank of England has held interest rates at 4.5 per cent as worries over a global trade war flare up. Rate-setter Swati Dhingra, an external member on the Monetary Policy Committee (MPC), was the lone wolf who voted for a 25 basis point cut. The decision saw Catherine Mann split from Dhingra after the [...]