Hawkish Bank of England? Don’t be so sure. September 19, 2024 "The economy has been evolving broadly as we expected," Bailey said. "If that continues, we should be able to reduce rates gradually over time".
Bank of England holds interest rates but Andrew Bailey flags further cuts September 19, 2024 The Bank's decision comes after the Fed reduced interest rates by 50 basis points last night, the first cut since the pandemic.
Lotus Theory 1 concept signposts future of electric sports cars September 19, 2024 The wraps are off a radical new electric concept car from Lotus, designed to showcase the ‘future of intelligent performance vehicles’. The Lotus Theory 1 demonstrates the British company’s new design manifesto – and reveals new technological innovations. From robotic textiles and haptic feedback on the inside, to recycled materials for its exterior, the Theory [...]
Quorn: Meat-free food brand loses more than £60m as supermarket sales slashed September 19, 2024 The company behind meat-free food brand Quorn lost more than £60m during its latest financial year as its sales in UK and US supermarkets continued to decline. The North Yorkshire-headquartered Marlow Foods has posted a pre-tax loss of £63.4m for 2023, having also made a loss of £15.4m in 2022. The last time the Quorn [...]
FTSE 100 remains in the green after Bank of England holds rates September 19, 2024 Traders had been concerned that the Fed had waited too long to cut interest rates, causing unnecessary damage to the US economy.
Ocado shares jump after firm hikes sales outlook on M&S joint venture September 19, 2024 Ocado shares jumped more than 10 per cent in early deals this morning after the company hiked its sales guidance. The retail arm of the London-listed group, Ocado Retail, a 50:50 joint venture between Ocado Group and Marks & Spencer Group, reported revenue growth of 15 per cent in the 13 weeks to 1 September [...]
Next upgrades guidance again as the company welcomes ‘new phase’ September 19, 2024 Retail industry bellweather Next has upgraded its guidance by £15m after sales and growth “exceed expectations”, while it vies for £1bn in profit. The retailer upgraded the profit guidance it issued on 1 August by £15m, to £995m, “as a result of the strength of our full price sales over the last six weeks”. This [...]
Fed lowers interest rates by 50 basis points in first cut since 2020 September 18, 2024 Today's rate decision was the most uncertain in years, with investors torn in the run-up to the decision about whether the Fed would cut rates by 25 or 50 basis points.
Train drivers accept £9K pay deal to end two years of UK rail strikes September 18, 2024 Train drivers on Wednesday voted to accept a new pay deal, bringing to an end a two-year industrial dispute over pay and conditions.
Why the Bank of England will hold interest rates tomorrow September 18, 2024 The firm consensus is for the Bank of England to hold rates tomorrow, but this will not prevent a further cut in November.