Card Factory benefits from pandemic recovery as consumers return to high street September 27, 2022 Greetings and gift specialists Card Factory had bumper revenue and profits in the first half of the year, as it looks to weather choppy economic waters ahead. Card Factory made £198m in the first six months of the year, up almost 70 per cent on the same period last year, while its earnings before tex [...]
Mortgage lenders withdraw some products after mini-budget market turmoil September 27, 2022 By PA Banks and building societies are withdrawing some of their mortgages from sale after the Government’s mini-budget on Friday sparked massive market turmoil. Three lenders have so far withdrawn some of their products amid the uncertainty. Virgin Money said: “Given market conditions we have temporarily withdrawn Virgin Money mortgage products for new business customers. [...]
Deal agreed for the purchase of Biffa for £1.3bn September 27, 2022 An agreement has been reached for the purchase of waste management firm Biffa by Bears Bidco, run by ECP, for £1.3bn. Bidco, a new firm controlled by funds operated by Energy Capital Partners’, will make the purchase subject in the fourth quarter of 2022. The acquisition was announced by the two companies’ board of directors [...]
Despite economic gloom more than 800,000 new firms were created this year September 26, 2022 More than 800,000 new firms were created this year despite economic turmoil and grim prospects for the immediate future. Online shopping was a key driver for the 98,000 new retailers which popped up in wake of the pandemic, as Covid unleashed a wave of entrepreneurialism. Figures from private equity firm Growthdeck show 808,000 new businesses [...]
Labour accused of ‘demonising landlords’ and saying ‘rent is optional’ with new charter September 26, 2022 Labour has been accused of “demonising all landlords” with proposals set to be unveiled today for the private rented sector. Keir Starmer’s party is due to announce a series of pledges today according to the Mirror, with shadow communities, levelling up and housing secretary Lisa Nandy making a speech at its annual conference this afternoon. [...]
Stamp duty cut set to boost property market as analyst ‘highly sceptical’ of demand-side push September 26, 2022 Cuts to stamp duty are set to give the UK property market a boost of more than 25 per cent as thousands of Brits look to cash in. Research from Barrows and Forrester suggests – based on previous stamp duty holidays – that up to a million homes could be sold due to the cut. [...]
David Beckham-backed esports firm signs big sponsorship deal with Sky September 26, 2022 David Beckham-backed Guild Esports has signed a huge sponsorship deal with Sky UK, in its larges agreement to date. The online gaming group signed a three-year agreement with the multi-media giant in the eighth revenue-generating deal signed by the firm since it floated on the London Stock Exchange. It is understood to be one of [...]
Post-Brexit foreign direct investment in the north skyrockets 72 per cent September 26, 2022 Post-Brexit foreign direct investment in the ‘northern powerhouse’ has skyrocketed by 72 per cent compared to the rest of the UK, a new report has shown. Investment in the north rose from £24bn between 2012-16 to £41bn after Britain left the European Union, from 2017-21. The findings, by the Northern Powerhouse Partnership, also found the [...]
All change: Moneysupermarket goes shopping for Ocado’s chief financial officer September 26, 2022 Moneysupermarket.com has swooped in for the Chief Financial Officer at Ocado, who will take up the same role on its board. Niall McBride will join the price comparison site subject to regulatory approval, as he leaves Ocado after having joined in 2020 during the pandemic. The former Rothschild & Co and PwC accountant will likely [...]
Exclusive: HSBC survey shows nearly 80 per cent of firms now prioritising sustainability September 26, 2022 Nearly 80 per cent of UK firms are now prioritising sustainability in a bid to acquire new businesses, research from HSBC exclusively shared with City AM reveals. The bank’s annual capital expenditure (CAPEX) indicated that of 670 firms surveyed, almost two-fifths increasingly value environmental elements to their businesses. The shift has also led to 88 [...]
