Flutter: Paddy Power owner slashes loss as US sales double November 13, 2024 Gambling giant Flutter Entertainment, whose brands include the likes of Paddy Power and Betfair, slashed its net loss during its latest quarter as its US sales doubled. The group’s total revenue for the third quarter of 2024 rose by 27 per cent from £2.558bn to £3.248bn while its adjusted earnings before interest, tax, depreciation and [...]
Revolut facing potential legal action in battle with crowdfunding platform November 11, 2024 Revolut is facing potential legal action from a crowdfunding platform after a years-long battle over the sale of its shares by early investors, City AM can reveal.
Lessons from the Gulf: The UK must listen to business November 11, 2024 The UK may feel worlds apart from the Gulf monarchies, but there are lessons to be taken, writes Eliot Wilson.
Europe’s banks brace for tougher competition under Trump 2.0 November 9, 2024 Since early 2010, European banking shares have fallen ten per cent, while US lenders have more than tripled.
Sainsbury’s: FTSE 100 retailer warns Reeves’ budget may push up food prices November 7, 2024 Chief executive of Sainsbury’s Simon Roberts has warned that Reeves’ decision to increase employer’s national insurance contributions (NICs) by 1.2 per cent to 15 per cent next April could lead to price inflation. Sainsbury’s has estimated the cost of the change at £140m, according to the Guardian. “This industry operates on very low margins, and there just [...]
Will the world’s super wealthy still buy in London? November 7, 2024 The abolition of non-dom status and stamp duty on second homes may sound like bad news for super-prime property, but the reality is more nuanced, says Trevor Kearney The delivery of Rachel Reeves’ first Budget marks a significant shift in the UK’s fiscal landscape, especially for London’s super-prime property market. While headlines focus on the [...]
Labour’s farm tax is pure class war November 6, 2024 Socialists targeting landowners is nothing new, but don’t expect the countryside to take Labour’s punitive farm tax lying down, says James Price “Buy land – they ain’t making any more of it”. With apologies to the Dutch and their reclamation efforts, this has been solid investment advice for a long time. But that’s about to [...]
Stamp duty hike: a ‘bitter but manageable pill to swallow’ for UK landlords November 5, 2024 Last week’s Budget announcement raised Stamp Duty Land Tax (SDLT) to five per cent tax, yet household landlords seem unfazed. London-based estate agent Benham and Reeves carried a survey to find out how UK landlords reacted to this hike. Concerns about potential hikes in capital gains tax (CGT) on property investments weighed heavily on landlords [...]
City holds off on big bets ahead of knife-edge US election November 4, 2024 City of London traders are refraining from big bets on US government debt and the dollar as the US election enters its final days on a knife edge, analysts have told City AM. With the last election taking four days to call, and polls suggesting Donald Trump and Kamala Harris are neck and neck heading [...]
Expect anti-growth policies whoever wins the US election November 4, 2024 The result may be too close to call, but both Kamala Harris and Donald Trump are proposing measures that could damage the US economy, says Kallum Pickering As America heads to the polls today, markets are still guessing about who will win. Last week, it looked like Republican candidate Donald Trump had nosed ahead. But [...]