M&S revamps leadership team in next chapter of transformation February 7, 2025 Marks and Spencer has announced significant changes to its non-food leadership team as it enters the next phase of its turnaround project. Clothing and home director, Richard Price, will be replaced by ex-Boohoo CEO, John Lyttle. Lyttle headed Boohoo for five years, but left last Autumn amid claims of “corporate espionage”, with allegations he was [...]
Cost-cutting pays dividends at TSB as bank reports record year February 7, 2025 TSB's pretax profit increased to £290.4m, 22 per cent higher than the year before and a record since the bank returned to the high street in 2013.
House prices hit record high in January ahead of stamp duty deadline February 7, 2025 According to new data, the average UK house price hit a record high of £299,138 in January ahead of the loss of first-time buyer stamp duty relief in April. House prices rose 0.7 per month on month and three per cent year on year, with London retaining the highest average house price in the UK [...]
JP Morgan Global Growth & Income makes offer for Janus Henderson competitor February 7, 2025 JP Morgan’s Global Growth & Income trust, one of the most popular investment trusts on the market, is set to take over a smaller competitor run by Janus Henderson. The £3.1bn JP Morgan trust has launched a takeover of the £329m Henderson International Income trust, the two funds announced in a stock exchange notice today. [...]
Landlords granted reprieve by Labour as energy efficiency timeline extended February 7, 2025 The government has officially extended the deadline for landlords to tighten energy requirements in the privately rented sector by two years to 2030. As of 2030, all private landlords will be required to meet a higher standard of Energy Performance Certificate (EPC) C or equivalent in their properties – up from the current level of EPC E. [...]
Legal & General shares soar as firm sells US insurance business for £1.8bn February 7, 2025 Following the deal, Meiji Yasuda will own L&G's US protection business and have a 20 per cent economic interest in its pension risk transfer (PRT) business.
Ashmore: Emerging markets giant stock jumps after beating expectations February 7, 2025 Emerging markets specialist Ashmore has once again beaten expectations despite recording yet more outflows, leading its stock price to rise 1.6 per cent. The FTSE 250 money manager’s half-year results revealed adjusted operating profit totalled £33.7m over the last six months of 2024, compared to the £31m forecast by analysts. Assets under management stood at $48.8bn (£39.2bn) [...]
UK private medical insurance sign-ups near-record high amid NHS backlog February 7, 2025 Nearly one in eight Britons now have medical insurance, a near-record high, as delays to NHS care drive customers to go private. The number of people with private medical insurance rose to a record high of 4.68M by the end of 2023, according to the latest figures from healthcare analysts LaingBuisson. But a total of [...]
Phone thefts: How are the Met Police tackling the crisis in London? February 6, 2025 If you live or travel in London, it’s fairly likely that you, or someone you live, work or socialise with, will – at some point or other – have had their phone stolen. Whether it’s slipped out of your pocket, or snatched from your hand, the experience has become commonplace – but remains stressful, frustrating, [...]
Why the Bank of England slashed its growth forecasts February 6, 2025 The Bank of England delivered Chancellor Rachel Reeves a mixed blessing on Thursday. Alongside cutting interest rates by 25 basis points, Bank officials halved the UK’s expected growth rate in 2025 to 0.7 per cent from a previous estimate of 1.5 per cent. This will come as a blow to Reeves, who has staked her [...]
