Housebuilder Barratt expects record profits despite Brexit blues July 10, 2019 Housebuilder Barratt Developments has forecasted a record rise in annual profits this morning, as it presses ahead with a plan to withdraw itself from Central London’s subdued property market. The FTSE 100 developer, which said today it has been making good progress on its strategy to exit Central London, is set to report pre-tax profits [...]
Page Group warns of lower profits amid economic uncertainty July 10, 2019 Recruiter Page Group today warned that global economic uncertainty will hurt profits this year, sending shares 10 per cent lower in early trading. Challenging macro-economic conditions will send 2019 operating profit down to £161.1m, with the company previously hoping to hit as high as £168m. Read more: Page Group CEO takes leave of absence after [...]
Drying up: Superdry slips to £85m loss as co-founder Dunkerton vows to ‘steady the ship’ July 10, 2019 Superdry shares plummeted in early morning trading after it slumped to a “disappointing” loss as the troubled retailer fights the ongoing stagnation on the high street. The firm, which suffered a boardroom exodus in April after co-founder Julian Dunkerton won an audacious bid to reinstall himself onto the board, saw shares fall six per cent [...]
A share in a housing nightmare? The problems with leasehold contracts and shared ownership July 10, 2019 The saga around leasehold contracts gets more complicated for buyers using the shared ownership scheme
Boris Johnson can deliver a bolder economic vision for Britain July 10, 2019 Brexit Britain is at an impasse. Half-in, half-out, with our politics gridlocked, we are now in serious danger of undermining our traditional attractiveness as a magnet for global investment. This week’s quarterly survey of FTSE CFOs by Deloitte shows that 83 per cent expect the UK’s economic prospects to worsen as a result of Brexit [...]
DEBATE: Should the next Prime Minister legalise recreational cannabis? July 10, 2019 Should the next Prime Minister legalise recreational cannabis? Morgan Schondelmeier, head of development at the Adam Smith Institute, which this week published a new paper on cannabis legalisation, says YES. The next Prime Minister must give the green light to legalising cannabis. We’ve seen the push in the UK towards relaxing the rules around medicinal [...]
We need a man in Washington who can walk the Trump tightrope July 10, 2019 Diplomats are a curious bunch. Usually to be found currying favour by whispering quietly in foreign capitals, their role is largely an unseen one, providing information back home, and intervening subtly to promote their nation’s interests. So when a diplomat becomes the news story, as opposed to providing commentary on a news story, it is [...]
Watchdog warns of ‘real risk’ of repeat to no-deal Brexit ferry fiasco July 10, 2019 The government could waste even more taxpayer money due to its lack of preparation for a no-deal Brexit, a top watchdog has warned, after the Department for Transport (DfT) blew £85m on botched ferry contracts. The DfT’s lack of preparation risks cornering the government into further high-risk procurement contracts, parliament’s Public Accounts Committee (PAC) said [...]
Exclusive: UK companies complacent on productivity, survey shows July 10, 2019 Nearly two-fifths of large UK companies called their productivity levels “very concerning” but big firms are investing only 0.25 per cent of their annual turnover to remedy the problem, new research has revealed. Read more: UK productivity drops for third quarter in a row A survey by the Centre for Economics and Business Research (CEBR) [...]
City Moves for 10 July – Who’s switching jobs? July 10, 2019 Today’s City Moves includes Waverton, Royal London Asset Management and Octopus Ventures. Waverton Waverton Investment Management has announced the appointment of Michael Allen as chief operating officer (COO). Michael joins from Lazard Asset Management, where he was COO for London, Dublin and Dubai. Michael has more than 30 years’ industry experience including roles as COO [...]