Housing crisis ‘hampers growth’ but minister vows 1.5m target on track November 20, 2024 The UK’s housing crisis “hampers economic growth and productivity”, the housing minister has said, as he insisted the target of 1.5m new homes can be achieved. Labour pledged in its manifesto ahead of the election to deliver the 1.5m net additional dwellings over the course of the Parliament, ending in 2029. It came in response [...]
London rents rise again as Savills warns of double-digit UK increase November 20, 2024 Analysts have warned rents are being pushed to unsustainable levels amid another yearly jump and concerns there is no natural plateau in sight. The average UK private rent rose by 8.7 per cent in the year to October, up from 8.4 per cent in the year to September, according to the ONS. The increase was [...]
Santander UK sets aside £295m for motor finance payout November 20, 2024 Santander UK has set aside £295m in its quarterly results to pay out to motor finance customers following a landmark court ruling on the topic last month. The bank had previously delayed its third-quarter results thanks to the high court ruling, which it said had left it unable to calculate the potential cost of the [...]
Maersk: Shipping giant to relocate from Felixstowe to London Gateway November 20, 2024 Container shipping giant Maersk is to relocate from the Port of Felixstowe to London Gateway following a strategic review of its Asia to Europe services. The Danish firm said the London hub, which carries more than a quarter of the UK’s deep sea shipping cargo, was the “most optimal port” to serve its import and [...]
Lidl boss warns retailers are ‘reeling’ after Budget tax raid November 20, 2024 The boss of budget supermarket Lidl has warned retailers are “reeling” following Labour’s tax raid in the Autumn Budget. The German supermarket’s UK boss Ryan McDonnell said the discount brand was staring down the barrel of “tens of millions of pounds” in extra costs. This comes after the Chancellor unveiled a £25.7bn tax-raising package, with [...]
Sage: Profit booms sends FTSE 100 tech shares flying November 20, 2024 Enterprise technology firm Sage has reported a boom in revenue and profit as the UK tech champion has capitalised on artificial intelligence. Underlying operating profit at the Newcastle-based firm rose 21 per cent over the last year to £529m. Its operating profit margin grew 220 basis points to 22.7 per cent. Meanwhile, Sage’s annualised recurring [...]
J20-maker Britvic boosted by non-alcoholic shift before Carlsberg deal November 20, 2024 A shift towards healthier drinking patterns has driven Britvic to new heights this year ahead of its acquisition by Carlsberg. Britvic told markets this morning revenue in the year to September 30 increased 9.5 per cent to £1,89bn. Adjusted earnings before interest and tax (EBIT) increased 15.2 per cent to £250.9m, while EBIT margin increased 60 basis [...]
Ofgem consults fund to speed up UK power projects November 20, 2024 The new scheme would provide billions of pounds to help owners cut delays, bring down costs and attract international investment, Ofgem said.
Ofgem tells E.ON Next to pay up over prepayment meter failings November 20, 2024 The energy regulator Ofgem has told provider E.ON Next to pay up £14.5m for failing to provide final bills and refunds to its customers. E.ON failed to provide customers energy bills or give them back money owed on credit balances for prepayment meters. This comes after an investigation by Ofgem found that nearly 250k prepayment [...]
British Land ups guidance amid pivot into retail parks November 20, 2024 Property giant British Land has upped expectations for the year as the group continues its push into retail parks. In its half-year results for the six-month period to 30 September, which were published this morning, the real estate investment trust upped its outlook for earnings per share from 27.9p to 28.1p. Meanwhile, the group’s EPRA [...]
