Federal Reserve expected to raise US interest rates this week as all eyes on predictions for 2019 December 16, 2018 The US Federal Reserve is this week widely expected to raise interest rates for the fourth time this year, with an anticipated range of between 2.25 and 2.50 per cent. But doubts have begun to emerge about Wednesday’s announcement among analysts, after comments from Federal Reserve chairman Jerome Powell that the level of interest rates [...]
Bonmarche shares tank after it slashes profits, blaming Brexit for bleak high street trading December 13, 2018 Retailer Bonmarche lost nearly half its value this morning after investors sold out following a bleak profit warning. Its share price fell 45 per cent this morning after the markets opened. Having closed on 80p last night, shares were trading at 44p this morning. The retailer said its Black Friday sales were “extremely poor” and had [...]
Dixons Carphone sinks to £440m loss, sending share price falling December 12, 2018 Dixons Carphone sank to a huge loss in its half-year result today, as a £500m writedown in its Carphone Warehouse division weighed the company and its share price down. The figures Dixons swung to a £440m loss for the six months to the end of October after paying out £490m in impairment charges for a restructure of [...]
Mixed bag for Britain’s grocers as market cools despite record Christmas spending forecasts December 11, 2018 Shoppers have been taking fewer trips to the supermarket in recent weeks after a bumper summer of demand, according to new data that suggests Britain's grocery sector has slowed to its lowest rate of growth in more than a year. Despite projections that spending this Christmas will break UK records, the supermarket sector grew at two [...]
Footfall takes a tumble as online retailers snap up Black Friday business December 10, 2018 Footfall slumped for the twelfth consecutive month in November as brick and mortar stores saw their Black Friday business snapped up by online competitors. Footfall in the UK fell by 3.2 per cent last month, a significant decline from the 0.2 per cent growth seen in the same period last year, according to retail data [...]
Consumer spending growth falls as festive shopping fails to boost high street December 4, 2018 Consumer spending growth fell year-on-year in November to its lowest level since March as falling confidence continues to impact struggling retailers. Growth in consumer spending was just 3.3 per cent, dragged down by poor sales in the retail sector, according to new figures from Barclaycard. The figure is the lowest since March this year, when [...]
A new hope: Backing firms of the future November 30, 2018 If you missed the big news of the last couple of weeks, you must have been hiding under a rock. And no, I’m not talking about the Prime Minister’s Brexit deal – but rather Small Business Saturday, which is returning for a sixth year on 1 December. This is the most important day in the calendar [...]
Ukraine bans Russian men from entering country as tension continues to grow November 30, 2018 Ukraine has banned Russian men aged between 16 and 60 from crossing the border into the country as tensions between the two continue to rise. It comes after three Ukrainian ships and their crews were seized by Russia in the Black Sea last weekend, leaving several Ukrainians injured. Parts of the country became under marital [...]
Spark Energy customers moved to a new supplier after company reaches deal with Ovo November 27, 2018 Ovo Energy has come to the rescue of 290,000 customers after its former rival Spark collapsed last week. The company will serve the customers through its own license, but keep Spark’s name and staff after acquiring the business, a spokesperson told City A.M. Customers will remain on the same tariffs they had with Spark, Ofgem, [...]
Black Friday draws in biggest ever week of sales for John Lewis November 27, 2018 John Lewis Partnership said today that it has seen its biggest ever week of sales as shoppers flooded the beleaguered retailer’s stores for Black Friday discounts. Total sales for the week jumped 7.7 per cent when compared with the same week last year, as purchases hit a record in the firm’s 150-year-old history. Fashion and home [...]