Services sector dips under weight of high interest rates as staff layoffs hit fastest pace since early 2021 October 4, 2023 The UK's service sector remained stuck in contraction in September for the second consecutive month, according to a closely watched survey, with firms laying off staff at the fastest rate since early 2021.
FTSE 100 close: London markets dip again as ‘chill winds’ dent sentiment October 4, 2023 London markets opened lower again on Wednesday as the gloomy market sentiment of the last few days continued following stronger than expected US data.
Hitachi’s £1.5bn Thales tie-up gets green light from CMA after proposed sell off October 4, 2023 The UK competition watchdog has given the green light for Hitachi’s £1.5bn takeover of Thales’ rail signalling interests, after the Japanese firm agreed to sell parts of its European mainline business. The Competition and Markets Authority (CMA) launched an investigation into the deal amid concerns that it would reduce competition in the supply of rail [...]
Spirent: Telecoms firm’s share price plummets over 30 per cent after profit warning October 4, 2023 British telecoms testing services provider Spirent Communications warned of lower annual profit on Wednesday, saying the telecommunications market was "extremely challenged at this time" and Chinese spending had reduced.
Rishi Sunak to defy backlash by axing HS2 route to Manchester October 4, 2023 Rishi Sunak is expected to defy a backlash from Tory colleagues and northern leaders by abandoning the high-speed rail route to Manchester as he seeks to portray himself as a radical reformer. The Prime Minister is expected to use his Conservative conference speech in the northern city to axe the HS2 leg from Birmingham as [...]
Superdry sells South Asian IP to Indian retail giant for £40m October 4, 2023 Struggling fashion retailer Superdry has signed a joint venture with Reliance Brands Holding UK Ltd (RBUK) for the sale of its intellectual property in South Asia, in its latest bid to boost funds. As part of the £40m deal, RBUK and Superdry will own 76 per cent and 24 per cent of the joint venture [...]
Topps Tiles reports record £263m sales as retailer shrugs off year of soaring inflation October 4, 2023 Topps Tiles reported a record year of sales this morning, outstripping pre-Covid figures as the group shrugged off continued inflationary pressure.
Tesco pledges an ‘affordable Christmas’ as it raises profit guidance on slew of price cuts October 4, 2023 Tesco raised its profit guidance for the year ahead to up to £2.7bn, as the Big Four grocery thanked a slew of price cuts for surging revenues in its interim results. Britain’s biggest grocer’s adjusted operating profit reached £1.48bn during the term, a 13.5 per cent leap when compared to the same period the prior [...]
Scandal-stricken Wandisco confirms rebrand as bosses eye fresh start October 4, 2023 Embattled data firm Wandisco has confirmed it will rebrand as Cirata today as it looks to move on from a major fraud scandal that saw it write off over $100m in bookings earlier this year.
Long-termism makes for good policy, if not a catchy slogan October 4, 2023 As election pitches go, the one that Rishi Sunak is going to try out today is a tad unusual. “You’re all fed up of us, so give us another shot” is not obvious campaigning gold. Yet there may be a nugget in there nonetheless. Sunak’s contention in his speech will be that the country is [...]
