UK retail sales flatline again after bruising Christmas January 28, 2020 UK retail sales flatlined for the third month in a row in January, survey data showed today, as Britain’s high street braces itself for “another tough year for the sector”. The CBI’s distributive trends survey said sales were also expected to be flat next month, marking a disappointing start to the year for the UK’s [...]
Electric avenue: E-scooters to get green light for road use January 28, 2020 Eco-conscious commuters are set for a welcome boost to their journey under plans to legalise the use of electric scooters on roads and cycle lanes. The government is expected to launch a consultation next month on how to regulate the speedy scooters and ensure safety, the Times reported. This will be followed with trials in [...]
Virgin Money boosts consumer loan book in ‘difficult market’ January 28, 2020 The UK’s sixth-largest lender Virgin Money oversaw a solid expansion of its personal and business loan book in the three months to December despite a “difficult market”, it announced today in a trading update. Virgin Money – which was bought by CYBG for £1.7bn in 2018 – also confirmed the worst is over in terms [...]
Combine points and salary threshold in new immigration system, MAC report suggests January 28, 2020 Downing Street should introduce a points-based system for skilled workers already with a job offer, when drawing up its post-Brexit immigration system, an influential new report has recommended. The Migration Advisory Committee’s long-awaited review, which the government is expected to lean heavily ahead of bringing forward its immigration bill in March, said the current Tier [...]
Profit tumbles at retirement specialist McCarthy & Stone January 28, 2020 Profit at UK retirement home-builder McCarthy & Stone dropped sharply last year against the backdrop of “a challenging market” and costs related to a new strategy, the firm announced today. Shares in the company were up 0.5 per cent in morning trading at 154.6p, however, indicating that investors were anticipating weak results. The figures Profit [...]
Exchange-traded funds: why you need to ‘know what you own’ January 28, 2020 | City Talk Do exchange-traded funds (ETFs) pose systemic risk? Or are such concerns exaggerated? It’s been more than 10 years since the outbreak of the global financial crisis, and the bull market (the longest ever) is in late-cycle territory. This combination of concern over the next downturn – what could set it off, spread it, or push [...]
City watchdog demands banks explain similar overdraft pricing January 28, 2020 The City watchdog has demanded that high street lenders explain why they have aligned their new overdraft rates at around 40 per cent following a rule change. The Financial Conduct Authority (FCA) will from April ban banks from charging more for unarranged overdrafts, in response to complaints that such fees were regularly 10 times as [...]
AG Barr shares pop on strong profit forecast January 28, 2020 Shares in Irn Bru-maker AG Barr jumped today after it told the market it expected profit before tax for its full-year to be in the upper end of expectations. The soft drink maker said adjusted profit before tax is expected to exceed £37m in the financial year ended 25 January. It said revenue for the [...]
Crest Nicholson blames Brexit uncertainty for profit plunge January 28, 2020 Crest Nicholson’s profit plunged 39 per cent to miss revised forecasts in a terrible year for the housebuilder, it said today. The figures Profit before tax sank from £168.7m in 2018 to £102.7m for the year ending in October. That missed guidance of between £120m and £130m, the result of last October’s profit warning. Profit [...]
Saga takes £4m hit from Thomas Cook collapse January 28, 2020 Over-50s insurer Saga has said underlying profit before tax will meet expectations despite the company taking a £4m hit from the administration of Thomas Cook. However, it warned home and motor insurance policies will pull in revenue three per cent lower than the previous year. But margins will still hit the higher end of Saga’s [...]