Motor finance industry in crisis mode after landmark court ruling November 1, 2024 Motor finance providers are scrambling to avoid a full-blown market meltdown after a landmark London court ruling on "secret" car loan commissions sparked chaos across the sector.
Retail footfall returns to downward trend after September spike November 1, 2024 After a brief rise in September, retail footfall has fallen again in October, as the number of feet on Britain’s streets returns to its downward trend. Total UK footfall decreased by 1.1 per cent year on year in October, down from a rise of 3.3 per cent in September. Many in the sector, which has [...]
Santander UK profit slides as analysts forecast £1.8bn motor finance hit October 29, 2024 Santander has revealed a sharp fall in its UK profit during the third quarter, while delaying the publication of more detailed figures as it digests a landmark motor finance court ruling in London.
Lloyds shares slump as analysts warn of £3.9bn motor finance bill October 28, 2024 Shares in Lloyds Banking Group and Close Brothers fell further on Monday after a landmark London court ruling that could expose motor finance providers to billions in extra compensation.
John Lewis set for Black Friday and Christmas hiring spree October 28, 2024 The John Lewis Partnership (JLP) is gearing up for a hiring offensive in the coming months as the retail group looks to bring in thousands of temporary staff for the festive season. Some 12,500 new workers are set to join its John Lewis department store and Waitrose grocery arm, up 4,100 on the same period [...]
Starmer denies misleading the public over tax rises in Labour manifesto October 26, 2024 Sir Keir Starmer has denied misleading the public at the general election over tax plans after he suggested people who make money from shares and property could face greater levies. The Prime Minister rejected claims he was waging a “war on middle Britain” amid pre-Budget speculation he could increase the burden for those who have [...]
Shares drop at Close Brothers as court sides with consumers in motor finance claims October 25, 2024 In a landmark decision in the motor finance test case, a court has resoundingly sided with consumers against the banks and lenders, including Close Brothers
UK banks to post first results since interest rate cut October 20, 2024 Major UK banks are to reveal whether borrowers are benefiting from lower interest rates as they report third-quarter results over the next two weeks.
Procook: Kitchenware brand serves up ‘pleasing’ results October 16, 2024 Kitchenware brand Procook offered a “pleasing” set of quarterly results, analysts said, as the group delivered a fifth consecutive quarter of retail growth. Procook’s revenue jumped to £17m in the quarter, an 8.8 per cent increase from the previous year, thanks largely to a 12 per cent increase in Ecommerce sales. However, the larger retail [...]
Boots: Online and makeup sales boost earnings ahead of Christmas October 15, 2024 High street pharmacy chain Boots has said a surge in sales online and for makeup helped increase its turnover during its latest financial year. The Nottingham-headquartered company has revealed its year-on-year turnover increased by 6.9 per cent in the 12 months to 31 August, 2024. During its final quarter, its retail sales rose by 6.2 [...]