Morgan Stanley: Bank of England to cut interest rates five times in 2025 January 28, 2025 The US investment bank slashed its growth forecasts on Monday, citing both the lingering impact of the Bank's monetary tightening and the fallout from the Budget.
FCA chief: City firms should get ready for a ‘different relationship’ with us January 28, 2025 City firms should expect a “different relationship” with the Financial Conduct Authority (FCA) and fewer “detailed rules”, as the watchdog rows in behind the government’s drive for growth, its chief executive Nikhil Rathi has said. In an interview with the Following the Rules podcast, the FCA boss warned the regulator was being forced to “rigorously” prioritise its [...]
Foxtons: Share price soars after London estate agent outperforms market January 28, 2025 London estate agents Foxtons has reported double digit growth driven by market share gains in both sales and lettings. Revenue in the year ended December 2024 grew 11 per cent to £163m, from £147.1m in 2023, while adjusted operating profit grew 33 per cent to £19m, from £14.3m in 2023. Its share price rose nearly [...]
Wickes: Share price jumps as recovery gets underway January 28, 2025 Wickes has reported an uptick in the revenue for the second half of the year, driven by small retail purchases and lower losses in its installation segment. The company’s share rose more than 10 per cent in early trades. Revenue at the home improvement firm rose by 1.8 per cent in the six months ending [...]
Pets at Home: Revenue dips but veterinary arm shows double-digit growth January 28, 2025 Animal care retailer Pets at Home has reported a slight dip in profit due to lower retail revenue, although vet revenue has soared. The FTSE-listed company, which offers both pet purchases and vet care, told markets that revenue fell 0.2 per cent to £361.6m in the 12 weeks to January 2. Retail revenue fell 2.8 [...]
Brits warned to brace for higher alcohol prices from next week January 28, 2025 On February 1 new duty rates on wine and spirits will come into force, meaning a rise in price for most alcohol. Under a new sliding system of duties, wine with a higher abv (alcohol by volume) will see the biggest price increase, with the duty on a 14.5 per cent abv wine to rise [...]
Pension industry backs Reeves’ £160bn investment drive January 28, 2025 The pensions industry has said it is willing to back the Chancellor Rachel Reeves’ plans to unlock up to £160bn in corporate surpluses if retirees are given “appropriate protection” by the government. Reeves and the Prime Minister Keir Starmer are set to meet with business leaders in the City of London today to outline pension [...]
UK dividends fall in 2024 after miners cut payouts January 28, 2025 UK dividends fell 0.4 per cent on an underlying basis in 2024 after miners slashed payouts by 40 per cent compared to the previous year. While headline dividends in 2024 rose 2.3 per cent to £92.1bn, this was thanks to a surge in one-off payments to £5.6bn. Underlying or regular dividends fell to £86.5bn, thanks [...]
Food prices set to rise ‘across the board’ as inflation fears build January 28, 2025 The BRC's shop price index showed that food prices rose 0.5 per cent month-on-month, up from 0.1 per cent in December
Why Chancellor Rachel Reeves opted for the ‘jobs tax’ in the Budget January 28, 2025 The government has frantically been searching for a story to tell on the economy since the turn of the year, after the Budget was so poorly received by both businesses and households.
