Brokers urge investors to buy Topps Tiles shares as sales grow July 3, 2019 Topps Tiles posted like-for-like sales growth of 3.8 per cent for its third quarter today, as softer trading a year ago helped the retailer boost revenue. Read more: Profits slip nearly 20 per cent at Topps Tiles A 2.3 per cent drop in sales for the four weeks to the end of June last year [...]
Sainsbury’s sales slip in ‘tough’ supermarket environment July 3, 2019 Sainsbury’s sales fell in its latest quarter, the supermarket revealed today, as boss Mike Coupe warned of the consequences of a no-deal Brexit. Like-for-like sales slipped 1.6 per cent year on year for the four months to the end of June while retail sales dropped 1.2 per cent, piling pressue on Coupe after the supermarket’s [...]
Police evacuate Lloyd’s of London offices due to gas leak July 2, 2019 City workers were evacuated from offices including Lloyd’s of London today after a gas leak in London’s financial district. The City of London Police issued an alert urging people to avoid the area and blocked off two roads due to the ruptured gas main on Lime Street. “There is currently a cordon in place affecting [...]
UK construction sector suffers worst output in 10 years July 2, 2019 Activity in the UK construction sector “dropped like a stone” last month as suffered its steepest fall in output since the height of the financial crisis, according to a closely followed industry index. Construction activity plummeted to its lowest level since April 2009 in June, on the back of the sharpest drop in UK housebuilding [...]
Office owner seeks restructure of £45m debt pile July 2, 2019 The owner of footwear store Office today confirmed it is in discussions to restructure £45m of debt at the retailer. South African outfit Truworths, which bought the UK high street giant for £250m in 2015, said it must pay a “significant portion” of the debt in a lump sum payment by December 2020. Read more: [...]
Funding Circle shares dive as it halves revenue growth target July 2, 2019 Funding Circle’s shares collapsed today as it slashed revenue growth predictions in half this year, warning that demand for loans is waning amid an “increasing uncertain economic outlook”. The small business loans firm today warned that 2019 revenue growth will hit 20 per cent, rather than the 40 per cent it originally predicted. The peer-to-peer [...]
UK manufacturing sector records worst month in six years July 1, 2019 UK manufacturing fell to its lowest level of output since February 2013 last month, according to a closely followed measure of industry activity. The sector’s downturn deepened in June as it fell to a 76-month low of a score of 48 on IHS Markit’s purchasing managers’ index (PMI) measure, released today. Read more: Eurozone manufacturing [...]
FTSE 100 reaches two-month high as US-China trade war enters truce July 1, 2019 The FTSE 100 soared to a two-month high as European stocks rallied as G20 summit talks between President Donald Trump and Chinese premier Xi Jinping appeared to offer signs of progress. Trump said negotiations to end the economic dispute are “right back on track” after pledging to pause any new tariffs on Chinese goods in [...]
Jeremy Hunt reveals no-deal Brexit measures July 1, 2019 Jeremy Hunt will today pledge to ringfence £6bn to protect the UK’s fishing and farming industries from potential border delays and disruption in a no-deal Brexit. As Prime Minister, Hunt would also slash taxes to prepare for a sudden departure from the EU. Read more: UK prepares for no-deal Brexit with new freight plans The [...]
Hong Kong protesters clash with police on anniversary of Chinese handover July 1, 2019 Tensions erupted in Hong Kong today between thousands of protesters and police in the early hours of Monday ahead of the anniversary of the island’s handover from British to Chinese rule. Police used pepper spray and batons to control demonstrators outside a venue hosting the annual flag-raising ceremony to mark the 22nd anniversary of the [...]