Profits plunge 26 per cent at Ted Baker after ‘difficult’ year March 21, 2019 Profits fell at Ted Baker last year for the first time since the financial crisis as the company faced “very difficult trading conditions” in a year when harassment claims dogged its chief executive. The figures Profits before tax at the menswear retailer dropped by 26 per cent to £51m even as revenue increased 4.4 per [...]
May tells public ‘I’m on your side’ as she calls for Brexit date extension March 21, 2019 Theresa May last night conceded that any delay to Brexit was “a matter of deep personal regret” as she used a live Downing Street address to pile pressure on MPs to back her unpopular deal. Speaking from Number 10, the Prime Minister said the public has “had enough” of the Brexit debate and wanted politicians [...]
City Moves for 21 March – who’s switching jobs at Orchard Street, Dechert and Lloyds Bank? March 21, 2019 Who’s on the move today? Orchard Street Investment Management Orchard Street Investment Management, the specialist commercial property investment manager, has appointed Dawn Marie La Monica head of compliance and risk. She will be responsible for ensuring compliance with the relevant regulations and laws impacting the firm, guiding the shape of corporate governance and culture, and [...]
Record label income grows amid rise in streaming subscriptions March 21, 2019 UK recorded music revenues rose more than three per cent last year as the popularity of streaming services shows no signs of slowing. New figures from trade body BPI revealed record label revenues hit £865.5m in 2018, the highest level in almost a decade. Read more: Music streaming revenues overtake ownership for the first time [...]
TV advertising revenue stalls as viewers switch to streaming March 21, 2019 TV advertising revenue growth stalled last year as traditional broadcasters continue to lose ground to streaming services. Overall revenue totalled £5.11bn in 2018, equal to the amount invested during the previous year, according to figures from industry body Thinkbox. Read more: Advertising outlook clouds picture at ITV The stagnating figures highlight the challenge faced by [...]
Report predicts sluggish UK growth and lower consumer spending March 21, 2019 Britain’s economic growth is due to slow in 2019 as political uncertainty bites, professional services giant PwC has said, making it the latest forecaster to predict sluggish growth for the country. Consumer spending growth is also predicted to slump to 1.4 per cent in 2019, from 1.9 per cent the year before, according to PwC’s [...]
Hungarian PM’s party kicked out of European centre-right political group amid worries over anti-immigration rhetoric March 20, 2019 The party of Hungary’s right-wing Prime Minister Victor Orban has been suspended from its political group in Brussels as concerns grow over his disregard for the rule of law. European People’s Party (EPP) delegates today voted overwhelmingly to exclude Orban’s Fidesz party from its meetings, strip it of voting rights and the ability to propose [...]
City A.M.’s rate-setting committee vote to hold interest rates as Brexit uncertainty peaks March 20, 2019 The Bank of England must hold interest rates as Brexit uncertainty looks set to continue beyond 29 March, City economists have said. The Bank’s rate-setting monetary policy committee (MPC) will announce its decision at midday on Thursday and is expected to leave rates unchanged at 0.75 per cent. Read more: Bank of England leaves policy unchanged [...]
US Fed slows balance sheet reduction and holds dovish line on interest rates March 20, 2019 The Federal Reserve tonight announced that it will hold interest rates and predicted no hikes this year in a dovish decision amid stronger economic headwinds than previously anticipated. In line with market expectations the Fed also said it would slow the reduction of its holdings of US Treasury bonds, built up following its programme of quantitative [...]
Pimlico Plumbers boss Charlie Mullins blasts ‘small-minded haters’ after gig economy tribunal victory March 20, 2019 The boss of Pimlico Plumbers Charlie Mullins has blasted critics of his company as “small-minded haters," following a victory today at an Employment Tribunal in Croydon on whether a former plumber at the company was entitled to holiday pay. “This decision is a vindication of everything that Pimlico Plumbers stands for. It also sends a message [...]