Business Budget backlash builds as hospitality giants write to Chancellor November 11, 2024 The government is under increasing pressure to revisit its hikes to employer national insurance contributions and the minimum wage after a number of the UK’s largest employers voiced concerns about the impact of the changes on their costs and operations. Over 200 of the UK’s biggest hospitality businesses signed a letter to the Chancellor yesterday [...]
Bank of England and Fed to cut interest rates despite fiscal fears November 6, 2024 The Bank held rates at its last meeting in September, but signalled that further cuts were on the way if there continued to be progress on inflation.
What Trump’s victory means for UK markets November 6, 2024 Donald Trump and the Republicans have had a stunning victory in the US elections. Now is the time to dissect what it means for the UK. The win for Trump brings the issue of tariffs front and centre. One of Trump’s main campaign pledges was to impose tariffs on imports. China is likely to face [...]
FTSE 100 falls back as traders digest Trump presidency November 6, 2024 The FTSE 100 pared its gains and sterling tumbled on Wednesday as traders digested how Donald Trump's presidency will impact the global economy and the UK.
Prudential: FTSE 100 insurer posts profit growth in key Asian markets November 6, 2024 FTSE 100 insurer Prudential posted a jump in new business profit for the first nine months of its year today after registering “broad based growth” across its global markets. In a third-quarter trading update today, the Asia-focused insurer said it had notched £2.35bn in new business profit across its global markets, an 11 per cent rise on [...]
Investment can boost growth – if it comes with technological progress November 6, 2024 Economic theory does regard capital investment as a contributor to economic growth, but there is another essential factor: technical progress, says Paul Ormerod The need to boost the UK’s rate of economic growth was a central theme of the first budget delivered by Rachel Reeves, the Chancellor. Reeves emphasised the importance of increasing the amount [...]
Smiths News declares special dividend after profit surge November 5, 2024 Smiths News exceeded its profit expectations during its financial year, leading the UK-based wholesaler to announce a special dividend for its shareholders. According to its full-year results, the company’s revenue for the year ending 31 August 2024, reached £1.1bn, a 1.1 per cent uptick from last year. During that time, its adjusted operating profit also [...]
Mike Ashley helps Hornby clean house after strategic review November 5, 2024 Hornby, the international models and collectables group advised by billionaire Frasers Group founder Mike Ashley, has announced the sell-off of a loss-making part of its business and the departure of its former chairman. The Kent-based listed company, in which Frasers owns a stake, has announced the LCD Enterprises is to be sold to EKD Enterprises, [...]
Natwest shares hit 13-year high after broker upgrade November 4, 2024 Natwest shares jumped to a 13-year high on Monday after a leading broker upgraded the bank’s price target. Shares in the London-listed bank, formerly known as Royal Bank of Scotland Group (RBS), jumped over three per cent on Monday to just under 390p per share. The discernible jump came after analysts at Peel Hunt upgraded [...]
Is London’s AIM set to thrive after the Budget? October 31, 2024 London’s AIM was dealt a smaller blow than expected in the Budget yesterday, with a half levy applied to its inheritance tax exemption, rather than the full 40 per cent expected by markets. The reaction was immediately positive from markets, with the FTSE AIM 100 index jumping more than four per cent in the minutes [...]