PMQs: Reeves ‘coming back for more’ in next Budget, Badenoch warns December 4, 2024 Chancellor Rachel Reeves will be “coming back for more” borrowing and further tax rises in her next Budget, according to Tory leader Kemi Badenoch. During a feisty PMQs the Conservative leader railed against the Prime Minister who she said “failed to repeat the Chancellor’s pledge of no more borrowing and no more taxes”. After referencing [...]
Budget tax hikes send business confidence to two year low, survey shows December 4, 2024 S&P's purchasing managers' index (PMI) for the services sector showed that business expectations for the year ahead were at their lowest level since December 2022.
Public spending to ‘boost growth’ next year, but inflation also set to spike December 4, 2024 In its latest economic outlook, the Organisation for Economic Co-operation and Development (OECD) projected that growth would pick up to 1.7 per cent in 2025.
Gymshark: Finance chief abruptly leaves apparel giant December 3, 2024 The chief financial officer of Gymshark has abruptly departed the business after two years in post. Mat Dunn joined the Solihull-headquartered company in December 2022, having been hired from Asos where he was chief operating officer and chief financial officer. He had previously worked as CFO at Robinsons squash maker Britvic and at South African [...]
Barclays boss insists Budget has been a ‘success’ despite gloomy forecasts December 3, 2024 The chief executive of Barclays has said Rachel Reeves’s tax-raising Budget has been a “success” so far, arguing it will likely boost economic growth in the longer term despite a raft of gloomy forecasts. Speaking at the Financial Times’ Global Banking Summit on Tuesday, CS “Venkat” Venkatakrishnan said markets for government debt suggested the Autumn [...]
Households cut back on spending at fastest pace in five years December 3, 2024 According to figures published by Barclays, essential spending fell by 3.1 per cent in November, the sharpest monthly fall since 2019.
Goldman Sachs: Why Budget tax hikes may hit harder than economists expect December 3, 2024 The research from the US investment bank is the latest attempt to get to grips with the likely impact of the tax changes announced in October's Budget.
M&S and Waitrose meal deal maker Greencore rebuilds profits December 3, 2024 Food manufacturer Greencore has experienced a “stronger than expected” year of trade as the meal deal producer rebuilds profitability ahead of 2025. The Irish business, which supplies sandwiches and sushi to the likes of M&S and Waitrose, told markets this morning that like-for-like sales jumped from 29.7 per cent to 33.2 per cent in the [...]
‘Good news for insurers’ after government ups personal injury discount rate December 2, 2024 Lord Chancellor revealed that the personal injury discount rate will increase to 0.5 per cent, in a move welcomed by the insurance industry
Manufacturing activity drops to nine-month low following Budget December 2, 2024 Rob Dobson, director at S&P Global Market Intelligence, said manufacturing was struggling due to a combination of high costs, weak demand and concerns over the economic outlook.