No Brexit is more likely than a no-deal Brexit, Theresa May warns on eve of parliament’s crunch vote January 14, 2019 Prime Minister Theresa May is set to warn MPs today that no Brexit at all is the most likely outcome if parliament blocks her EU exit agreement tomorrow. May is expected to urge lawmakers to back her deal in tomorrow’s crunch parliamentary vote in order to secure Brexit, saying a no-deal Brexit is less likely [...]
Goals Soccer Centres miskicks on profits as US sales slow January 14, 2019 Goals Soccer Centres today warned that it is set to miss the target on its full-year profits. The five-a-side football firm blamed the mis-hit on slower US growth and tight margins in “ancillary activities” such as food and drink, sending shares down 2.8 per cent in early morning trading. As a result, Goals expects profits [...]
UK economy posts slowest growth in six months but beats lower expectations January 11, 2019 The UK economy grew at its slower rate in six months between September and November, data released today shows, but still managed to beat lower expectations. GDP grew by 0.2 per cent in November compared to the month before, and by 0.3 per cent in the 12 weeks to the end of the month, the [...]
Flybe shares in turmoil as Virgin-led consortium makes cut-price offer for struggling airline January 11, 2019 Struggling airline Flybe is set to be picked up in a basement bargain deal from a Virgin-led consortium that values the budget business at just £2.2m. Shares were sent crashing 80 per cent this morning on news of the offer from Virgin Atlantic, Stobart Aviation and US private equity firm Cyrus Capital Partners, which will leave [...]
Quiz share price plummets as retailer issues second profit warning on poor Christmas sales January 11, 2019 Fashion retailer Quiz saw shares plunge this morning as it issued its second profit warning in just three months today, after Christmas sales fell below expectations. Profits are now expected to hit £8.4m for 2018, down from October’s estimate of £11.5m, with shares nosediving by 24 per cent in early morning trading to leave Quiz’s [...]
Retail’s Super Thursday: The good, the bad and the ugly January 10, 2019 Today's so-called Super Thursday delivered a very mixed shopping basket of retail results, from some fresh bargains ready to be snapped up to others in danger of being labelled as out of date. Tesco, John Lewis, DFS, Debenhams and more released their results on a day dubbed Super Thursday, but which coincided with a dire [...]
Jaguar Land Rover confirms 4,500 job cuts as it switches focus to electric vehicles January 10, 2019 Jaguar Land Rover today confirmed it will swing the axe at 4,500 staff as it looks to safeguard its future after a slump in demand from China and falling diesel sales. Read more: China sales halve at JLR Hacking back its global workforce will help deliver a leaner organisation, JLR said, as the move follows [...]
Marks & Spencer blames weak consumer confidence for drop in Christmas sales January 10, 2019 Sales slumped at Marks & Spencer over the key Christmas shopping period, the retailer said today, as analysts criticised its "outdated" business model for an over-reliance on high street shoppers. The figures Like-for-like UK sales fell by 2.2 per cent year on year in the three months to the end of December to hit £2.78bn. [...]
Jaguar Land Rover set to announce up to 5,000 job cuts January 10, 2019 Jaguar Land Rover is reportedly set to axe 5,000 jobs in a cost-cutting exercise after seeing a slump in Chinese demand for its vehicles coupled with a fall in diesel sales. The mass redundancies would help the company free up £2.5bn in cash flow, a transformation programme it announced in October. Read more: China sales [...]
Mothercare sticks to guidance despite falling UK sales January 9, 2019 Mothercare sales plunged in the three months to mid-January, it told investors today, though the business remains on track to deliver on its full-year guidance. Like-for-like UK sales dropped by 11.4 per cent over the parent and baby chain’s third quarter as it blamed “challenging trading conditions” as well as its programme of store closures. [...]
