Starmer declines to confirm Reeves will be Chancellor at next election January 13, 2025 Sir Keir Starmer has declined to confirm that Rachel Reeves will be Chancellor at the next general election. The Prime Minister was asked about Reeves’ role following a speech in London on artificial intelligence (AI) and insisted he was “completely confident” in her. However, he declined to guarantee she would still be in post at [...]
FTSE 250 closes down four per cent in worst week since 2023 January 10, 2025 The FTSE 250 fell almost four per cent this week, experiencing its worst week since August 2023 as fears mount over the stability of the UK economy. With pound sterling sinking and UK gilt yields rising to decade-long highs, investors have begun to panic that the UK economy and government are coming under pressure. “The [...]
Rachel Reeves eyeing spending cuts in spring January 10, 2025 Rachel Reeves is considering cutting departmental spending as UK borrowing costs soar, despite risks it could “dampen” activity and “further dent anaemic” growth. The Chancellor is said to be eyeing further reductions to unprotected government departments’ budgets after she ruled out additional tax rises or more borrowing to avoid breaking her fiscal rules following the [...]
M&S: City broker slashes share price target on lower profit prospects January 10, 2025 Berenberg has downgraded its share price target for Marks and Spencer following lower estimates of long-term growth for the high street darling. The broker downgraded its price target from 410p to 384p, a cut of six per cent, due to a decrease in its profit estimate. “The potential for upside surprise now looks more limited [...]
The runners and riders to replace under-fire City minister Tulip Siddiq January 10, 2025 Downing Street is reportedly weighing up a number of potential candidates to replace Tulip Siddiq as her position as City minister comes under increasing pressure. Siddiq, the niece of ousted Bangladeshi leader Sheikh Hasina, has been in the headlines since last month when she was named in an investigation into whether her Bangladeshi family embezzled [...]
M&S, Greggs and Sainsbury’s shares slide on shaky outlook for UK economy January 9, 2025 Marks & Spencer (M&S), Greggs, Sainsbury’s and B&M shares have all slumped today after investors took fright at warnings of a slowdown in consumer spending over the next year. Aside from Sainbury’s, whose results will be announced on Friday morning, all the firms released solid earnings updates this morning, with M&S reporting an 8.7 per [...]
Sadiq Khan urged to declare ‘public order emergency’ after teen stab death January 9, 2025 Sadiq Khan has been urged to declare a “public order emergency” after a 14-year-old boy was fatally stabbed on a bus in Woolwich, south east London. Kelyan Bokassa died shortly after 2.30pm on Tuesday, 7 January, after being treated for stab wound injuries, the Met Police said. His mother, Mary Bokassa, told the BBC she [...]
Best cocktails in London: the freezing martini at Hawksmoor January 9, 2025 Next in our recommendations for the best cocktails in London, the freezing martini at Hawksmoor While we wait for the announcement about the new James Bond, pass the time at the Hawksmoor, with its new ultrasonic homogeniser martini. Like drinking a super-refined slush puppy, it has a thicker consistency, adding texture to the drink’s formidable [...]
Greggs: Sausage roll-maker passes two milestones despite ‘subdued’ footfall January 9, 2025 Greggs reported a record-breaking year in 2024 as the sausage-roll maker surpassed two key milestones, but warned on headwinds in 2025 after “subdued” footfall. In an update to markets today, the high street bakery reported an 11.2 per cent uptick in total sales, which sprung the company upwards of its sales milestone of £2bn. However, [...]
The Capitalist: WFH rows, Zuck’s new watch and the City’s Tesco habits revealed January 9, 2025 WFH causes a ruckus, Zuckerberg's eye-catching watch and the nation's favourite meal deal: catch up on the latest gossip in The Capitalist.