Sainsbury’s: Business rates ‘nothing more than an unfair tax on shops’ August 12, 2024 Sainsbury’s has urged the government to cut business rates and warned that failure to act could lead to over 17,000 shop closures over the next decade. It has called for a rate cut of 20 per cent in a bid to revitalise the high street and protect jobs. Not only would this project jobs, the [...]
Bivictrix quits London’s AIM to chase private funding as market ‘undervalues’ firm August 12, 2024 Biotech firm Bivictrix Therapeutics is the latest company to exit the London Stock Exchange’s AIM market, citing difficulties in raising funds compared to its privately-owned competitors. The company, which is headquartered in Macclesfield, said it would not be able to raise enough capital to advance its medication to a clinical trial via London’s junior market [...]
WH Ireland: Small-cap broker’s revenue plunges amid AIM swoon August 12, 2024 WH Ireland, the broker for small and medium-sized public companies, has reported a near 20 per cent slump in revenue due to “extremely challenging” market conditions. The group also reported a statutory loss before tax of £5.9m, up from £1.8m in 2023, thanks in part to a £2.9m restructuring charge. “These were principally redundancies and [...]
Marshalls: Revenue at building supplier drops but group ‘cautiously optimistic’ about the future August 12, 2024 Housing industry supplier Marshalls has reported a mixed set of results for the first half of the year due to what management called “weak end markets.” However, despite weakness in the construction market over the past year, the company said it was “cautiously optimistic” about the future. Marshalls announced revenue of £306.7m in the half-year [...]
Heathrow smashes passenger records despite ‘devastating’ hit from new £10 transit charge August 12, 2024 Heathrow Airport has retained its crown as Europe’s busiest airport over the first half of the year as passenger traffic broke records multiple times in July. Some 8m travellers passed through the West London hub over the month, millions more than the likes of Amsterdam Schiphol, Frankfurt, Madrid and Paris’s Charles de Gaulle. Heathrow saw [...]
UK business output jumps to highest level in two years as further rate cuts expected August 12, 2024 UK business output has jumped to its highest level in two years, according to a closely-watched survey, as the expectation of more interest rate cuts provide optimism for the coming months.
Government to double compensation for poor customer service from water companies August 12, 2024 Compensation for customers receiving poor services from water companies who are failing to meet standards could more than double under new Government proposals.
‘Pent-up demand’ drives jump in London prime property sales August 12, 2024 London’s super-prime market seems to following a similar track to the general market: optimism is cautiously increasing as mortgages start to come down following the Bank of England’s rate cut. The number of exchanges in London in June and July was 8.4 per cent above the five-year average, according to Knight Frank. It was a [...]
Meet the fund managers: ESG investing across the globe August 12, 2024 In this new weekly series, investment reporter Elliot Gulliver-Needham sits down with a fund manager for a Q&A. This week, we’re hearing from Geir Lode, lead portfolio manager on the Federated Hermes Global Equity ESG fund. How does your fund stand out from others in the same market? As a firm and as a team [...]
Violence on the streets has a long tail in terms of stability August 12, 2024 Starmer has built his vision on stability - but the riots could undermine all that, writes Eliot Wilson
