City of London Group plots £50m capital raise for SME bank December 17, 2019 City of London Group is planning a capital raise of up to £50m early next year to develop its new UK small and medium enterprise bank, the company said as it revealed losses widened in the six months to the end of September. The figures The company’s losses widened from £2.35m to £3.34m after it [...]
Wetherspoons resolves pigs in blankets shortage in time for Christmas December 17, 2019 JD Wetherspoon customers can breathe a sigh of relief as pigs in blankets are back on the menu in the run up to Christmas following a shortage earlier this week. Pigs in blankets had been served without their blankets in some pubs due to supply chain problems earlier this week. Read more: Which wines to [...]
First-time buyer mortgage approvals increase in October December 17, 2019 The number of first time buyers securing mortgages jumped in October, according to the latest data. There were 32,260 new first-time buyer mortgages completed, 2.8 per cent more than in October last year. Read more: UK mortgage lending dips as buyers hesitate in Brexit uncertainty The number of homemover mortgages completed in the month grew [...]
Unilever shares slip on warning full-year sales growth will miss expectations December 17, 2019 Unilever has warned this morning that it will miss sales growth expectations this year due to challenging trading environments in some of its largest markets. The consumer goods giant’s share price fell more than five per cent after it said full-year underlying sales growth is expected to be below three per cent, and warned that [...]
Ted Baker shares dip as long-serving director exits December 17, 2019 Ted Baker’s share price dipped this morning after the retailer announced a long-serving board member will step down just a week after the firm’s chief executive and chairman quit. Shares slumped more than five per cent after the embattled fashion brand announced that non-executive director Ron Stewart has left with immediate effect after nine years. [...]
Boeing halts production of 737 Max planes December 17, 2019 Boeing has announced that it will halt production of its grounded 737 Max jet in January, after the US aviation regulator said it would not approve the aeroplane’s return to service before 2020. The decision was made by Boeing’s board last night following a two-day meeting in Chicago. Read more: Boeing 737 Max: Grounding could [...]
Distribution giant Bunzl buys Australian emergency supplies firm December 17, 2019 Distribution giant Bunzl has acquired an Australian emergency response supplies business, the company announced this morning, as it confirmed that its full-year expectations remain unchanged. The London-based company said it had bought Fire Rescue Safety Australia (FRSA) – which serves government departments and mining sector companies – bringing the total amount spent on acquisitions this [...]
Sports Direct shares soar on profit jump December 16, 2019 Sports Direct’s shares soared this morning as the retailer posted a jump in profit and revealed that it was beginning to see the “green shoots of recovery” at House of Fraser. The figures The company’s share price surged more than 30 per cent to 470p after the high street store said reported profit before tax [...]
Mike Ashley urges government to reform business rates system quickly December 16, 2019 Sports Direct owner Mike Ashley has warned that more House of Fraser stores will be forced to close unless the new government tackles the “broken and unworkable” business rates system. Retailers have repeatedly urged politicians to take action on business rates, and ahead of his election win Boris Johnson pledged to launch a fundamental review [...]
Mike Ashley mulls £100m staff bonus scheme December 16, 2019 Sports Direct owner Mike Ashley revealed that his business, which today rebranded as Frasers Group, is mulling a £100m share bonus scheme for employees. The proposals are at an early stage, but the scheme would only be open to full-time employees and would not include staff members on zero-hour contracts, Ashley said today. Read more: [...]
