Debenhams shares rebound as wider retail sector suffers in October November 15, 2018 Shares in embattled department store chain Debenhams have rebounded this afternoon after suffering its biggest single day loss in a decade yesterday. Its share price was up 18 per cent to 6.2p having fallen to a low of 4.6p earlier in the day – a 40 per cent drop since Friday. A number of high [...]
Debenhams shares continue to plunge on supplier woes in the run-up to Christmas November 15, 2018 Shares in embattled department store chain Debenhams have continued to plunge this morning on reports of supplier troubles in the run-up to Christmas. A number of high street suppliers have stopped working with the Debenhams after credit insurers reduced protection for suppliers, trade magazine Drapers reported. Its share price has dropped close to nine per cent this [...]
In a rare move, HMRC is refunding some parents who were liable for the child benefit charge – here’s what you need to know November 8, 2018 It is unusual for HMRC to admit that it has been too heavy-handed, so last week came as a welcome surprise to many parents who have been hit with fines in relation to child benefits. If you are responsible for bringing up a child under 16 (or under 20 if they are in education), you [...]
UK manufacturing orders fall for first time since aftermath of Brexit referendum and growth slows November 1, 2018 New orders and employment in the UK manufacturing sector have dropped for the first time since July 2016 in a “worrying turnaround” in October. Conditions in the sector “slowed sharply” as output growth weakened and new order inflows and employment declined for the first time since the aftermath of the EU referendum, according to the [...]
HMRC to be made preferred creditor in tax avoidance crackdown October 29, 2018 A range of measures designed to crackdown on tax avoidance and evasion with a view to raise £2bn over the next five years have been announced by the government. HMRC will be made a preferred creditor in insolvencies, Chancellor Philip Hammond announced today. The government will end the practice of purchasing services through offshore countries and introduce a [...]
Barclays prepares for hard Brexit as Irish expansion gathers pace October 24, 2018 The chief executive of Barclays said the bank is fully prepared for a hard Brexit as its Irish expansion plans gather pace. Jes Staley said it would be business as usual for customers after Britain leaves the EU on March 29. The bank will use its Irish subsidiary as a central European hub to guard [...]
Sports Direct’s Mike Ashley tees off in bidding war for American Golf October 5, 2018 Sports Direct owner and retail tycoon Mike Ashley is set to expand his business empire further, as it suggested he has tabled a bid for Britain's largest golf retailer American Golf. Ashley is among a number of interested parties in the American Golf takeover, including JD Sports Fashion, sources told Sky News. Deloitte, who is advising [...]
Watchdog slaps Lloyds with legal demands over PPI failures October 4, 2018 The UK’s competition watchdog has handed Lloyds legal directions after the lender failed to meet its obligations around managing accounts with payment protection insurance (PPI), the policy at the centre of a huge mis-selling scandal. The Competition and Markets Authority (CMA) has called on the lender to “put effective systems and procedures in place” after it [...]
Greg Clark’s flawed and feeble remedy will fail to stamp out the late payment problem October 4, 2018 Brexit confusion, in-fighting, and leadership peacocking have marred both the Labour and Conservative Party conferences this year, but business secretary Greg Clark provided a glimmer of hope for SMEs this week. Large companies could be forced to nominate a board member to ensure that invoices are paid properly as part of a planned crackdown on [...]
German digital bank N26 backed by Tencent and Peter Thiel launches in the UK October 4, 2018 A German digital bank backed by Tencent, Li Ka-shing and Peter Thiel will launch in the UK today with the aim of taking on the big high street banks and adding to the fierce competition among British app-only banks. N26, which already counts 1.5m customers across 17 European countries, has started rolling out its banking [...]