Topps Tiles share price up on record sales of £130m despite inflation throwing wrench into profits May 23, 2023 Shares in Topps Tiles soared 4.57 per cent this morning as the retailer reported “record” earnings in the first half of the year, crediting a cooling of high inflation and recruitment woes. The London-listed business said sales were up 9.3 per cent year on year to £130.3m, and group gross profit grew 2.7 per cent [...]
Supermarket wars: Tesco rakes in £8.92bn of sales as clubcard points entice cash-strapped shoppers May 23, 2023 Tesco remains Britain’s favourite supermarket with clubcard points helping cash-strapped shoppers in the cost of living crisis – but Waitrose was given a sales boost thanks to luxury purchasing during the King’s Coronation. Figures released by Kantar show that in the 12 weeks to 15 May, ‘Big Four’ grocer Tesco raked in £8.92bn in sales [...]
Yes, inflation will fall – but back to Bank of England target? Well, that’s anyone’s guess May 23, 2023 Inflation is definitely on its way down, but no thanks to the Bank of England – well, yet. Most of the drop will be driven by energy price rises falling out of the ONS’s numbers. Tomorrow’s figures are poised to start that descent, with the rate of inflation probably falling to around eight per cent [...]
Sadiq Khan hosts crunch business talks with City figures May 23, 2023 Sadiq Khan has warned London’s businesses are facing “the most difficult period in living memory” as a result of Brexit, the Covid-19 pandemic and the inflation crisis. The Mayor of London has called for the government to devolve some immigration powers to City Hall as a means of tackling regional labour shortages sparked by the [...]
Sadiq Khan: London needs more powers to ensure its businesses thrive post-Brexit May 23, 2023 Businesses in London are struggling to attract the right talent post-Brexit. To ensure the Square Mile remains the most competitive financial system, London needs more decisional power, writes Sadiq Khan
Chancellor to discuss food prices with CMA May 23, 2023 Today the Chancellor Jeremy Hunt will meet with food manufacturers to discuss the cost of food and explore ways to ease pressure on households. The government says Hunt will raise concerns about high prices of food in the UK and discuss measures the government and industry could put in place to help households. Hunt said: [...]
FTSE 100 close: NatWest lifts after government stake sale as Burberry and JD Sports bump London index May 22, 2023 London’s FTSE 100 started what will be a quiet week in decent style today, driven higher by investors piling into Britain’s largest retailers. The capital’s premier index jumped 0.21 per cent to 7,773.49 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, edged lower to [...]
Begbies Traynor: Jump in businesses going bust lifts firm’s profit guidance May 22, 2023 Begbies Traynor expects its annual sales and profits to trade ahead of market expectations thanks to a surge in the number of businesses going insolvent.
Pint pourers pocket 11.3 per cent pay rise beating UK average amid staff shortage May 22, 2023 Pub workers are raking in some of the biggest pay rises in the UK caused by landlords stepping up benefits in a bid to lure and retain staff, new figures out today show. Wages for people working in the country’s drinking holes climbed 11.3 per cent over the last year, higher than the hospitality sector’s [...]
UK inflation poised to slip out of the double digits to lowest level in over a year May 22, 2023 UK inflation is poised to tumble to its lowest level in over a year in what is expected to begin a steady descent from its multi-decade highs, new figures out this week are likely to reveal. The rate of price increases in April is tipped to have dropped markedly to 8.2 per cent last month, [...]