ECB lifts interest rates to 22-year high as inflation concerns outweigh slowdown fears September 14, 2023 The decision comes amid a backdrop of slowing growth in the bloc, suggesting that the ECB's nine rate hikes are transmitting through to the wider economy.
Gousto eyes return to profit after slashing jobs in the wake of post-pandemic losses September 14, 2023 Gousto, the recipe box delivery service, has said it is on track to return to profit this year, following a year of losses fuelled by soaring inflation and economic headwinds. But losses for the business, whose backers include wellness guru Joe Wicks, widened to £157.6m in 2022, against £19.9m a year earlier, blamed on spiralling [...]
Meet the experts helping thousands with commercial secret commission claims September 14, 2023 Harcus Parker solicitors specialises in commercial litigation, frequently acting in cases involving large groups of claimants and/or defendants. The firm represents a wide range of clients, including businesses, consumers, investors, borrowers, homeowners and shareholders. Reclaiming undisclosed commissions that unfairly inflate the cost of products and services has become a particular focus for Harcus Parker. Currently, [...]
FTSE 100 close: London markets surge after ECB’s ‘dovish’ 25bps hike September 14, 2023 The ECB is set to announce its latest interest rate decision at 1.15pm London time, and economists are divided about what the result will be.
Lidl swings to loss of £76m as fight to keep prices low offset by surging costs September 14, 2023 Discount supermarket chain Lidl has revealed its British arm swung to an annual loss after battling to keep a lid on prices as its costs rose “across the board”. The group reported pre-tax losses of £76 million for the year to February 28 against profits of £41.1 million the previous year as it also invested [...]
John Lewis pushes turnaround plan back two years as losses narrow September 14, 2023 Losses at John Lewis have shrunk but the struggling retailer warned that its ambitious partnership plans have been pushed back two years.
ECB: Analysts reckon “pregnant pause” likely as ratesetters meet today September 14, 2023 Slowing European growth is likely to lead rate-setters at the European Central Bank (ECB) to leave interest rates on hold, economists expect.
Cash usage increases for first time in over a decade as cost of living crisis bites September 14, 2023 Cash payments increased for the first time in a decade last year as concerns over the cost-of-living crisis prompted Brits to take out more cash.
Mark Kleinman: The inquest into Wilko’s demise has only just begun September 14, 2023 Mark Kleinman is City editor at Sky News Inquest into Wilko’s demise has only just begun Few things elicit British consumers’ sentimentality like the imminent disappearance of a once-proud high street name. For Woolworths in 2009 and BHS in 2016, read Wilko in 2023. The sad fate of more than 10,000 employees at the family-owned [...]
Mark Kleinman: Wilko’s demise, the FTSE chair merry-go-round and Bink’s breakup with Barclays September 14, 2023 Mark Kleinman gets the Square Mile talking in his weekly column for City A.M.