Kwarteng makes permanent cut to stamp duty in a bid to drive growth September 23, 2022 Kwasi Kwarteng confirmed stamp duty would be slashed from today in a bid to drive growth and boost confidence in the economy. Announcing his mini-budget, Kwarteng said: “Today’s statement is about growth. Home ownership is the most common route for people to own an asset, giving them a stake in the success of our economy [...]
Kwarteng launches most radical tax cut programme in a generation September 23, 2022 Kwasi Kwarteng unleashed a tax cut bonanza in the House of Commons today, helping millions of Brits keep hold of more of their money
Things can only get worse before they get better in this economic climate September 23, 2022 In his Friday review, Jason Deane zooms out on the world's tangled web of macro economics as a worrying picture emerges.
Pound plummets to 37-year low against dollar ahead of Kwarteng’s mini-budget September 23, 2022 The Pound has plummeted to a fresh 37-year low against the dollar ahead of the Chancellor’s mini-budget today. Sterling dropped below $1.12 against the backdrop of a new low for consumer confidence, while FTSE 100 fell early. The pound has been on a poor recent run, with it announced this week the UK borrowed more [...]
Average monthly mortgage bill rises to £1,150 as new buyers set to struggle September 23, 2022 Average mortgage repayments are now above £1,150, as house sales are set to plummet with further rate-rises expected. Experts at Savills have said the Bank of England’s seventh consecutive base rate rise is hitting home-owners hard, and new buyers even harder. The hike to 2.25 per cent yesterday, the highest since 2014, means home-owners may [...]
The Works continues post-pandemic comeback as arts and crafts sales soar September 23, 2022 The Works continues its valiant post-pandemic comeback as revenue climbs for the high street arts and crafts store. For the year ending 1 May, total revenue hit £264.6m for the retailer, up 46.5 per cent compared with 2021 levels. This was bolstered by the fact that two-year like-for-like sales climbed 10.5 per cent, with positive growth [...]
Made.com to cut staff as it mulls sale of the business September 23, 2022 Beleaguered retailer Made.com said it will conduct a strategic review of its future options, including job cuts and possible sale of the business. The online furniture and homewares firm came to market in January last year at a price of 200p per share, valuing the group at £775m. The shares have steadily slumped ever since [...]
Investec expects earnings per share and profits to climb despite volatile backdrop September 23, 2022 Investec said it expects profits to continue to climb as the specialist banking and asset management group rides out the volatile macro environment with diverse revenue streams. The firm said it expects adjusted operating profit before tax to be between £372.6m and £406.2m in its pre-close trading update, with the UK business’ figure at least 20 [...]
Top investor may go against £9.5bn Schneider takeover bid for AVEVA September 23, 2022 A top AVEVA investor is reportedly planning to go against a £9.5bn takeover offer by Schneider Electric because it represents an “opportunistic bid”. Peter Lampert said the bid, at £31-a-share would undervalue the UK technology group, the Financial Times reported. This comes after numerous major UK firms have been approached by foreign investors, including Ted [...]
Revolution Beauty calls in independent investigators over ‘serious’ auditing concerns September 23, 2022 Revolution Beauty has called in the investigators after auditors continue to flag “serious concerns”. The auditor BDO has recommended that the beauty firm appoint independent external advisers to carry out an independent investigation, adding to the initial announcements made last month surrounding “certain accounting issues”. Revolution said this morning that it has hired City law [...]
