Busiest Black Friday on record as Brits make the most of sales in cost of living crisis November 26, 2022 This year’s Black Friday was the busiest on record, as Brits look to make the most of deals amid the cost of living crisis. The number of purchases jumped on Friday, up 10 per cent in comparison with last year, according to data from Nationwide today. The rate of spending has risen more than a [...]
Tesco invests further £14m into egg industry as avian flu sparks rationing November 26, 2022 Tesco is leading the charge in supporting egg suppliers, as British supermarkets begin rationing egg sales amid an outbreak of avian flu. Egg farmers in the UK have been wrestling with an outbreak of avian flu, on top of soaring inflation which has ramped up the price of feed and energy. Tesco has set aside [...]
China Covid-19 cases hit record high as Beijing postpones ‘reopening’ November 24, 2022 Daily Covid-19 cases in China have hit a record high, cementing a fresh wave of concern that the country will not ‘open up’ after all. Wednesday saw 31,527 cases recorded compared with an April peak of 28,000. The figures are relatively small for the country of 1.4bn people. Beijing’s controversial ‘zero-Covid’ policies were hoped to [...]
Oxford Street to welcome fashion brand Reserved amid revamp of retail district November 24, 2022 London’s Oxford Street is welcoming a new retailer to the block, as fashion brand Reserved has signed up for its second London store. GPE, formerly Great Portland Estates and one of the biggest property leasers in the capital, has signed a letting with Reserved for a more than 19,600 square foot space, which is expected [...]
Dr Martens yet to see cost of living crisis hit as revenue jumps November 24, 2022 Dr Martens is yet to see the impacts of the cost of living crisis in the UK, as it keeps its outlook firmly in place. The footwear retailer enjoyed a revenue jump of 13 per cent to £418.6m in the six months to the end of September. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) [...]
Covid-19 test supplier Abingdon suffers heavy losses amid stock price crash November 24, 2022 Abingdon Health, one of the UK’s major suppliers of Covid-19 lateral flow kits, has suffered heavy losses as the pandemic retreats out of the country. The London-listed diagnostic test provider had its revenue plunge to £2.8m in the year to the end of June, from £11.6m in the same period a year prior. Losses swelled [...]
Investment in public health could boost GDP by £180bn each year, says CBI November 23, 2022 Investments in healthcare and wellness are investments in the economy, according to the Confederation of British Industry (CBI). The UK loses 131m working days a year to ill-health, costing the nation around £180bn in GDP, data from the CBI’s new Work Health Index revealed yesterday. “Labour market resilience is a precondition to growth,” CBI president [...]
Londonmetric suffers £100m rates-fuelled blow to property portfolio value November 23, 2022 Londonmetric Property has emerged as the latest real estate investment trust to suffer an interest rates-fuelled hit to its portfolio. The portfolio, which still stands at £3.5bn, has shed £100m in value since March, as the company’s property and capital returns dwindle. Rising interest rates has eroded the value of several of the UK’s largest [...]
Johnson Matthey profits chipped away by inflation and supply chain woes November 23, 2022 Johnson Matthey’s profits have been eaten into by soaring inflation and ongoing supply chain disruptions. The British chemicals maker had its operating profit dive a quarter to £222m on an underlying basis in the six months to the end of September, according to the group’s latest results. Supply chain constraints have hit the group’s clean [...]
Discoverie weathers UK economic storm with record orders November 23, 2022 British electronics designer and manufacturer Discoverie is hoping the size – and cost – of its products will be the key to weathering the UK’s economic storm. The London-listed company has seen its underlying operating profit rise more than a third to £25.6m in the past six months, while pre-tax profit boomed over 130 per [...]
