UK jobs cuts accelerate as firms fret over stagflation March 5, 2025 UK service firms are cutting jobs at the sharpest rate since November 2020 as fears about the state of the economy spread. S&P Global’s latest UK Services PMI, which measures business activity in the services sector, found that 24 per cent of firms cut their employees in February, compared to only 13 per cent which [...]
M&S to invest £95m in staff pay despite higher wage taxes March 5, 2025 Marks and Spencer will invest £95m into higher pay for its retail staff, despite “cost pressures” from the government. From 1 April, the rate of pay for UK Customer Assistants will increase from £12 to £12.60 per hour, up five per cent year on year and up 26 per cent since 2022. It is higher [...]
Scottish Mortgage Investment Trust: City broker warns of underperformance March 5, 2025 City broker Stifel has warned that popular investment trust Scottish Mortgage might suffer from underperformance in coming years as growth-focused US stocks begin to fall out of favour with markets. In a research note today, Stifel analysts Iain Scouller and William Crighton said that noted that Scottish Mortgage’s share price has jumped around 27 per [...]
Balfour Beatty shares slump as veteran chief Leo Quinn steps down March 5, 2025 Shares in Balfour Beatty slumped on Wednesday after veteran chief executive Leo Quinn announced plans to step down. Quinn departs following a more than 10-year stint leading the UK’s biggest contractor, during which time he significantly reduced debt and put the company on the path to profitable growth. Shares fell more than four per cent [...]
Alcohol-shy Gen Z and erratic weather hits global vineyards March 5, 2025 Changing tastes and a hotter climate have made the future of global vineyards uncertain and unpredictable, according to a new report. With global wine consumption down 12 per cent from its 2007 peak and erratic weather making many sites untenable, few vineyards remain unscathed, according to Knight Frank’s annual wealth report. In France, “only about [...]
Impax slashes jobs after loss of St James’s Place mandate March 5, 2025 Impax Asset Management has made 10 per cent of its employees redundant after losing a £5.1bn mandate from St James’s Place. The 30 layoffs, which Impax said should save over £11m for the firm annually, have occurred over the last six months, the company said in a stock exchange update today. Job losses resulted from [...]
Galliford Try shares jump as construction firm reports profit boost March 5, 2025 Shares in Galliford Try rose nearly eight per cent in early trades after the company reported a double-digit jump in revenue. Revenue increased 12.7 per cent to £923.2m in the six months to December 31, while profit before tax rose 22 per cent to £20.5m. The company also reported “increased confidence” and said revenue and [...]
Brits spent almost £1bn this Valentines Day March 5, 2025 Brits spent almost £1bn on flowers, gifts, and at-home meals this Valentine’s Day as shoppers sought to create a special occasion at home rather than splashing out at a restaurant. According to the latest NIQ Till Tracker, £962m was spent on food and gifting on Valentine’s Day, with the biggest growth in spending on flowers, [...]
Ibstock slashes dividends as profit tumbles March 5, 2025 Ibstock has slashed its annual dividend payout as profit and revenue fell amid “subdued market conditions.” The London-listed brickmaker reported a near third drop in pre-tax profit to £21m for the year ended 31 December. Ibstock said the figure reflected “lower trading performance” and the impact of a one-off £12m charge. Revenue declined 10 per [...]
Breedon Group acquires US firm Lionmark for £187m March 5, 2025 Construction materials firm Breedon Group has acquired US-based Lionmark for £187m as it continues to expand its presence across the Atlantic. Chief executive Rob Wood said he expected the takeover to more than double Breedon Group’s US revenue and be “immediately earnings enhancing” for shareholders. It is expected to be completed by 7 March. Missouri-headquartered [...]
