Impax slashes jobs after loss of St James’s Place mandate March 5, 2025 Impax Asset Management has made 10 per cent of its employees redundant after losing a £5.1bn mandate from St James’s Place. The 30 layoffs, which Impax said should save over £11m for the firm annually, have occurred over the last six months, the company said in a stock exchange update today. Job losses resulted from [...]
The Co-op admits blocking rivals from opening competing stores March 5, 2025 The Co-op has become the latest major UK supermarket to fall foul of a targeted campaign by the Competition and Markets Authority (CMA) to stop the use of ‘unlawful land agreements’ in grocery retailing. The group has admitted to 107 breaches of an order to stop supermarkets imposing restrictions that block rivals from opening competing [...]
UK business confidence in crisis, new report says March 5, 2025 More than three quarters of bosses have low confidence in the UK business environment, according to a survey by the Adam Smith Institute (ASI) think tank. The ASI Business Confidence Survey took the temperature of 192 business leaders, who between them represent 100,000 employees – from sectors including finance, retail and manufacturing. It paints a [...]
Chancellor lining up billions in spending cuts as fiscal headroom wiped out March 5, 2025 The Chancellor Rachel Reeves is preparing to announce “major measures” including substantial spending cuts to a number of government departments – including welfare – in the Spring Statement. According to BBC News, sources said that “the world has changed” since the Budget, and that £9.9bn in fiscal headroom projected by the Office for Budget Responsibility [...]
Jollyes sinks further into the red despite sales surge at Pets at Home rival March 5, 2025 Jollyes has sunk further into the red despite its sales continuing to surge as it attempts to increase its rivalry with Pets at Home. The company has posted a pre-tax loss of £13.3m for the year to 26 May, 2024, after having also made a £5.3m loss in the prior 12 months. However, newly-filed accounts [...]
Galliford Try shares jump as construction firm reports profit boost March 5, 2025 Shares in Galliford Try rose nearly eight per cent in early trades after the company reported a double-digit jump in revenue. Revenue increased 12.7 per cent to £923.2m in the six months to December 31, while profit before tax rose 22 per cent to £20.5m. The company also reported “increased confidence” and said revenue and [...]
Alan Sugar: The Apprentice star sells entire stake in recruitment firm March 5, 2025 Lord Alan Sugar has sold his entire stake in an engineering and technology recruitment agency which he has backed for more than four years. Hernshead Group was set up by Tom Johnson in 2019 who shortly afterwards persuaded Lord Alan Sugar to invest despite him not going on hit BBC One show, The Apprentice. Johnson [...]
Brits spent almost £1bn this Valentines Day March 5, 2025 Brits spent almost £1bn on flowers, gifts, and at-home meals this Valentine’s Day as shoppers sought to create a special occasion at home rather than splashing out at a restaurant. According to the latest NIQ Till Tracker, £962m was spent on food and gifting on Valentine’s Day, with the biggest growth in spending on flowers, [...]
Ibstock slashes dividends as profit tumbles March 5, 2025 Ibstock has slashed its annual dividend payout as profit and revenue fell amid “subdued market conditions.” The London-listed brickmaker reported a near third drop in pre-tax profit to £21m for the year ended 31 December. Ibstock said the figure reflected “lower trading performance” and the impact of a one-off £12m charge. Revenue declined 10 per [...]
Trump ‘just getting started’ as tariffs take hold March 5, 2025 In a major joint address to Congress Monday night, a defiant President Trump declared that he is “just getting started” as the backlash to the new Administration’s tariffs against Canada and Mexico intensifies. Trump gave this major speech on the day that he delivered a key campaign pledge, to impose sweeping taxes on the US’s [...]