FTSE 100 boosted by US inflation print and watering down of banking rules September 12, 2024 London markets received a boost on Thursday morning following a strong performance from US stocks and the Bank of England watering down proposals for new bank capital rules.
John Lewis: ‘Transformation on track’ but chain still in the red September 12, 2024 The John Lewis Partnership has reported an improved set of half-year results and has said it is on target to significantly boost its performance for the full year. The iconic UK name, which also owns Waitrose, said sales topped £5.9bn in the 26 weeks ended 27 July, up by two per cent year on year. [...]
The City’s salad cult: What’s up with Farmer J? September 12, 2024 People in the City are addicted to Farmer J's large, expensive salad bowls. Why so?
Square Mile and Me: Capital Rise CEO Uma Rajah on navigating London’s fintech scene September 12, 2024 Each week we ask a City figure to take a trip down memory lane. Today, Uma Rajah, CEO of Capital Rise, looks back on her journey from car factory floor to fintech boss.
US inflation falls to lowest level since February 2021 as Fed prepares to cut interest rates September 11, 2024 US inflation fell to its lowest level since February 2021 in August, new figures show, but core prices rose faster than anticipated. Figures from the Bureau of Labor Statistics showed that inflation fell to 2.5 per cent in August, down from 2.9 per cent the month before and in line with expectations. Prices increased 0.2 per [...]
Luke 1977: UK’s economic woes to hit fashion industry for next three years September 11, 2024 Menswear brand Luke 1977 has warned that the “current economic climate” will continue to impact on the fashion industry for the next two to three years. The Oxfordshire-headquartered business said the fashion industry is also “experiencing challenges relating to climate control”, ranging from the reduction of carbon foot prints to the use of recyclable materials. [...]
Economists are not concerned by the lastest GDP figures. They should be September 11, 2024 The growth party was always going to end sooner or later. In the first half of 2024, the economy exceeded expectations month after month, making the UK the fastest-growing economy in the G7. One statistician at the ONS even said the economy was growing “gangbusters“. Alas, nothing lasts forever. Figures out this morning showed that the [...]
Boohoo makes major US change in bid to broaden appeal September 11, 2024 Boohoo has announced significant changes to its operations in the US market as it looks to broaden its product offering across the Atlantic. The Manchester-headquartered group will stop supplying US customers from its distribution centre in Pennsylvania, as the company’s management look at ways to drive a more sustainable and profitable business. Orders will instead [...]
Asos slashes £500m debt pile as refinancing deals revealed September 11, 2024 Asos has announced the successful refinancing of the majority of its £500m debt due in 2026, with only just over £70m outstanding. The online fast-fashion retailer, which has struggled with post-pandemic shopping trends, had £500m in convertible bonds due 2026. The London-headquartered company has now exchanged £253m into convertible bonds due in 2028 rather than [...]
The winter fuel cut is Starmer’s first peek into the Too Difficult Box. Now give him courage! September 11, 2024 Means-testing winter fuel payments show Starmer is willing to peek into the Too Difficult Box, but he must resist to urge to slam it shut again, writes James Price