Mike Ashley’s Frasers lowers profit guidance following Budget December 5, 2024 The retailer expects to deliver adjusted pretax profit in the range of £550-£600m for the 2025 financial year, down from £575-625m previously.
Budget tax hikes send business confidence to two year low, survey shows December 4, 2024 S&P's purchasing managers' index (PMI) for the services sector showed that business expectations for the year ahead were at their lowest level since December 2022.
Investors pile into UK equities after pre-Budget selling December 4, 2024 UK equity funds ended a 41-month streak of outflows last month as investors piled back into the market following Rachel Reeves’s tax-raiding Budget. After suffering their worst month on record before in the run up to the October fiscal plans, fund flows reversed sharply as investors poured money back into the market, with buying for [...]
Public spending to ‘boost growth’ next year, but inflation also set to spike December 4, 2024 In its latest economic outlook, the Organisation for Economic Co-operation and Development (OECD) projected that growth would pick up to 1.7 per cent in 2025.
Barclays boss insists Budget has been a ‘success’ despite gloomy forecasts December 3, 2024 The chief executive of Barclays has said Rachel Reeves’s tax-raising Budget has been a “success” so far, arguing it will likely boost economic growth in the longer term despite a raft of gloomy forecasts. Speaking at the Financial Times’ Global Banking Summit on Tuesday, CS “Venkat” Venkatakrishnan said markets for government debt suggested the Autumn [...]
Profit jumps at Upper Crust owner SSP despite sluggish European performance December 3, 2024 In the 2024 financial year, the firm's operating profit jumped by 23 per cent to £206m, up from £167m last year. Pretax profit rose by 35 per cent.
Tom Kerridge warns Budget tax hike will have ‘catastrophic’ effect on hospitality firms December 3, 2024 Tom Kerridge has warned that the government's tax hikes will have a "catastrophic" impact on many hospitality firms in the new year.
Festive period off to a ‘bad start’ for retail sector as sales drop December 3, 2024 The British Retail Consortium's (BRC) sales monitor showed that sales volumes fell 3.3 per cent in the year-to-November, compared to a 2.3 per cent increase last year.
Business confidence takes ‘decisive turn for the worse’ after Budget, says CBI December 2, 2024 The Confederation for British Industry's (CBI) growth indicator showed that more firms expected activity to fall in the three months to February than to increase.
Topps Tiles hits back after major shareholder calls out ‘costly blunders’ December 2, 2024 Topps Tiles has hit back after a major shareholder called for an overall of its top team and strategy following a series of “costly blunders”. The London-listed company has issued a statement in the wake of the managing director of Austrian investment company MS Galleon, Piotr Lipko, writing to Topps Tiles’ chair Paul Forman last [...]