Britain missing out on billions of crypto tax revenue as HMRC fights back August 27, 2024 The UK could be missing out on billions in tax revenue from crypto investors that is currently going unreported. As Norwegian tax returns are public, recent research from Norway was able to find that 88 per cent of all Norwegian crypto investors fail to declare their holdings. While each tax-avoiding investor owed on average between [...]
Unilever considers sale of Kate Somerville’s skincare line August 27, 2024 Kate Somerville’s premium skincare brand has become the latest Unilever brand to go up for sale as the group continues its restructuring plan announced earlier in the year. As well as Somerville’s eponymous facialist line, which the FTSE-100 giant has owned since 2015, it is also looking to offload sensitive-skincare specialist REN Skincare, according to [...]
Klarna swings to adjusted profit in first half of 2024 ahead of planned listing August 27, 2024 Klarna swung to an adjusted profit in the first half of 2024 as the buy-now pay-later giant makes progress on its bottom line ahead of a planned stock market listing.
Weetabix sale helps snack maker Wholebake slash loss August 27, 2024 Wholebake, the company behind snack brands Brynmor, Nine and Bounce, has significantly cut its loss after selling its cereal business to Weetabix, according to newly-filed accounts. The manufacturer, which is headquartered in the Welsh town of Corwen, Debighshire, saw its pre-tax loss slashed to £1.8m in the year ending 30 March, 2024, down from £6.7m [...]
‘Painful’ Budget ahead, Keir Starmer warns in gloomy No10 speech August 27, 2024 Sir Keir Starmer has warned Brits to expect a “painful” Budget this autumn as he insisted the state of the public finances is “worse than we ever imagined”. The Prime Minister addressed the nation from the No10 Rose Garden as he cautioned voters his government’s first fiscal statement would be “short-term pain for long-term good”. [...]
Primark owner AB Foods’ shares drop after investors advised to sell up August 27, 2024 Shares in Associated British Foods, which owns British stalwarts like Primark, Kingsmills and Twinings, dropped this morning after stockbroker Deutsche Numis downgraded its rating from ‘hold’ to ‘sell’. Shares in the FTSE 100 firm, which owns businesses in five segments including grocery, sugar, agriculture, ingredients and retail, dropped more than three per cent in early [...]
Santander launches £1.3bn share buyback under new payout scheme August 27, 2024 Santander has launched a share buyback for up to €1.5bn (£1.3bn) as the banking giant fulfills its promises to boost investor payouts.
Oaknorth: London challenger bank readies for US expansion as New York office authorised August 27, 2024 Oaknorth has received regulatory approval to open a representative office in New York, paving the way for the digital challenger bank to expand further into the US market ahead of a potential stock market listing.
Temu owner PDD shares plunge after profit warning August 27, 2024 Shares in Pinduoduo (PDD Holdings), the Chinese owner of discount retailer Temu, have plunged by nearly 29 per cent in New York in a move that has wiped $55bn (£41.6bn) off the company’s market value. The steep decline followed a warning from management about an impending nosedive in profits, causing investors to reassess the company’s [...]
Arts and crafts giant Hobbycraft sold to Ted Baker investor August 27, 2024 Hobbycraft, which is one of the UK’s biggest arts and crafts retailers, has been snapped up by a specialist investor whose team has previously supported chains including Paperchase and Tie Rack. Investment group Modella Capital announced it had bought the Bournemouth-headquartered company from its majority owner, the fund management group Bridgepoint, for an undisclosed sum. [...]
