Barclays shares rise as booming US credit cards and higher interest rates helps bank beat expectations April 27, 2023 Barclays shares rose after it beat expectations in its first quarter results, as pretax profit rose 16 per cent on a strong performance from its domestic bank and booming US credit card spending. Across the group, Barclays’ pretax profit was £2.6bn, up 16 per cent from last year and comfortably beating company compiled consensus of [...]
Sainsbury’s profits takes inflation and cost of living hit as supermarket faces stark choice April 27, 2023 In its full year results for the year ending 4 March 2023, Sainsbury’s pre tax profits fell from £854m to £327m as the retailer battled to keep its pole position as one of the UK’s largest supermarkets. The supermarket giant said it was impacted by non-cash asset impairments, driven by a higher discount rate, and [...]
Netflix’s £2bn gamble on South Korea and a new Squid Game is an unlikely nuclear deterrent April 27, 2023 Netflix's £2bn investment in South Korea isn't only about entertainment; it also shows South Korea's soft power works in uniting the West against a possible attack from North Korea, writes Leon Emirali
FTSE 100 close: Persimmon and Standard Chartered peg losses on London index April 26, 2023 London’s FTSE 100 skidded lower today despite a decent batch of results pumping up banks and house builders. The capital’s premier index lost 0.49 per cent to close at 7,852.63 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, edged 0.04 per cent lower to [...]
Pret hikes price of coffee subscription in wake of soaring inflation April 26, 2023 Pret-A-Manger has revealed that it is increasing the price of its subscription service by £5 in the wake of soaring inflation. The London-born coffee chain said that the price of its ‘Club Pret’ loyalty service is rising from £25 to £30, however, fans of the cafe will now also receive a 10 per cent discount [...]
UK workers clocked zero productivity growth in last year continuing long trend of sluggishness April 26, 2023 British workers clocked no improvement in the amount of goods and services they can produce per hour over the last year, official statistics released today show. According to the Office for National Statistics (ONS), output per hour worked in the three months to December last year was no different compared to the same period in [...]
US Bitcoin Policy Summit: It’s time for the US to embrace crypto April 26, 2023 Ahead of the US Bitcoin Policy Summit, Nigel Green sets out some ideas for senators and congressional leaders to consider.
Bank of England interest rate hikes would squeeze Jeremy Hunt’s room for tax cuts by £8bn, City economist claims April 26, 2023 The Bank of England could squeeze Chancellor Jeremy Hunt’s room to cut taxes in the run up to the next general election if it keeps hiking interest rates to tame inflation, a City economist has calculated. Officials at Threadneedle Street would swell Britain’s debt interest bill by around £8bn if they send borrowing costs to [...]
GSK brings in zosta lot more cash as drugs giant’s turnover boosted by shingles vaccine and HIV medicines April 26, 2023 Drugs giant GSK has posted better-than-forecast revenues for the first quarter thanks to strong sales of its shingles vaccine and HIV medicines. The FTSE 100 group saw earnings fall 15 per cent on a constant currency basis to £2.1bn in the first quarter as revenues dropped eight per cent to £7bn after sales of its Covid-19 treatment [...]
Persimmon Homes: Share price lifts on recent uptick despite 42 per cent knock in home sales April 26, 2023 Persimmon Homes share price lifted nearly four per cent this morning, after the group reporting a 42 per cent knock in the number of homes completed in the first leg of the year. The house building group reported strong traffic to its website and improvement in sales reassured investor confidence. The house building group, which [...]