Shakespeare: Lockdown pups give Pets at Home a boost October 21, 2020 Last month, in the face of the coronavirus, Pets at Home reported glowing results making it the best-performing UK retail stock of the quarter. The pet shop and veterinary services provider said it expected full-year underlying profits to be ahead of current market expectations. Pets at Home said that while strong merchandising sales had helped [...]
Don’t get in over your head – trade smart and trade safe October 21, 2020 With the shift to at-home working resulting in lockdown boredom, there has been a surge in retail day traders around the world looking to profit from the market volatility. With the growing number of brokers committing to commission-free trading and zero-minimum balances, there are more choices than ever for retail traders. However, one must take [...]
Bulmers owner C&C warns over impact of second wave on cider sales October 21, 2020 Bulmers and Magners owner C&C Group today warned that the second wave of the coronavirus pandemic could dent its recovery due to ongoing restrictions in the hospitality sector. For the six months ended 31 August, the company swung from a €64.4m operating profit to a loss of €11.7m, due to the closure of pubs and [...]
Accounting watchdog floats strengthening auditors’ obligation to spot fraud October 21, 2020 The UK’s accounting regulator has proposed increasing the requirements on auditors to detect fraud in company accounts following a spate of high-profile accounting scandals. The Financial Reporting Council (FRC) has launched a review into the international accounting standard outlining auditors’ responsibilities to identify fraud. The watchdog is proposing revisions to the standard to provide “increased [...]
UK public borrowing unexpectedly picks up to hit record £209bn this year October 21, 2020 UK government borrowing rose unexpectedly in September, pushing the budget deficit to a new record high of just under £210bn and the total debt pile to its biggest level as a proportion of GDP since 1960. The government borrowed £36.1bn last month, according to the Office for National Statistics’s (ONS) best estimate. That comfortably beat [...]
UK investors most downbeat in world on own economy October 21, 2020 UK investors are more downbeat about the short-term prospects for their own economy than their global peers, according to new research. Some 43 per cent of UK investors surveyed by UBS in the third quarter said they were optimistic about their own region’s economy over the next 12 months. While the figure represents a three [...]
What is the EU Green Deal and how might it impact business? October 21, 2020 The EU Green Deal is a policy framework and package that aims to transform the European economy with the overarching goal of achieving climate neutrality by 2050 and increasing ambition in existing emissions reduction targets. Announced in 2019, this multi-year project will create new and revamp existing policies, including the EU’s first ever Climate Law. [...]
William Hill warns new lockdowns will hit profit October 21, 2020 Bookmaker William Hill (WMH) has warned that the UK’s new coronavirus restrictions could hit profits as it posted a nine per cent drop in third-quarter revenue. The bookie said it had an “encouraging” third quarter, with a “rapid recovery in UK retail” as footfall grew. But it cautioned that new restrictions would set it back. [...]
Royal Mail accelerates parcel business pivot with collection service launch October 21, 2020 Royal Mail has stepped up its fight back against online delivery giants as it launched a parcel pick-up service across the UK. The postal service is adapting its service to cater for the boom in online shopping, which has accelerated during the coronavirus pandemic, saying the move means sellers and shoppers will “no longer need [...]
UK inflation climbs to 0.5 per cent after Eat Out to Help Out scheme ends October 21, 2020 UK inflation climbed to 0.5 per cent last month as restaurants and cafes hiked their prices following the end of the Eat Out to Help Out scheme. The headline rate of inflation on the ONS consumer price index (CPI), which tracks the prices of goods and services, came in at 0.5 per cent in September, [...]
