Why is the UK economy poised to tumble into a recession and fall behind Europe, US and even Russia? February 16, 2023 Britain avoided a much-tipped recession at the end of last year. Phew. “However, we are not out of the woods yet,” warned Chancellor Jeremy Hunt after last Friday’s GDP figures from the ONS revealed the economy stagnated at the end of 2022, meaning it narrowly avoided the technical recession definition of two consecutive quarters of [...]
London is being hollowed out of clever 20-year-olds refusing rent hikes February 16, 2023 Young, talented people are leaving London in flocks because they can't afford the record spike in rents. It risks making the capital a place for the super wealthy only, writes Elena Siniscalco
FTSE 100 close: London index breaches 8,000 mark for first time ever despite Barclays tumbling February 15, 2023 London’s FTSE 100 today breached the 8,000 point mark for the first time ever despite Britain’s biggest banks tanking after Barclays posted a big profits drop. Today’s move higher crystalises the premier index’s bullish start to 2023 that has seen it surged more than seven per cent. The new year rally builds on advances that [...]
Are house prices really going up? London had lowest change across UK with average in capital now £543,000 February 15, 2023 The average UK house price ended last year £26,000 higher than when 2022 started, although the annual pace of growth in property values is slowing. Property values increased by 9.8 per cent in the 12 months to December 2022, which was weaker than the 10.6 per cent annual growth recorded the previous month. London’s average [...]
Crypto traders shrug at latest inflation data February 15, 2023 The price of Bitcoin sits around $22,260 this morning, up by 2% over the last 24 hours while Ethereum is up 3% at $1,556.
UK inflation drops for third straight month in sign Bank of England is nearing end of interest rate hikes February 15, 2023 Inflation in the UK is falling faster than experts expected which may convince the Bank of England to consider ending its aggressive campaign to tame prices with interest rate rises, official figures out today reveal. The rate of price increases in Britain dropped to 10.1 per cent last month, down from 10.5 per cent in [...]
Dunelm’s profits dip as end of home improvement boom and high inflation eats into margins February 15, 2023 Homewares retailer Dunelm today said its profits have dipped since the pandemic due to soaring inflation and the end of the Covid house improvement boom. The Leicestershire firm said higher prices and slower sales had caused its pre-tax profits to drop by 16.6 per cent to £117.4m. Dunelm’s results come as the amount of [...]
Castore co-founder Tom Beahon on shelving IPO plans, bucking the Brexit trend by expanding in Europe, and the Andy Murray-backed sports brand’s first shoe launch February 15, 2023 At a time when Brexit has caused some British businesses to retreat from Europe, fast-growing premium sportswear brand Castore is eager to buck the trend. The company, founded by former City boys Tom and Phil Beahon and which counts Andy Murray among its investors, has opened a distribution centre in the Netherlands and is increasingly [...]
Hargreaves Lansdown pledges to hike dividend after profit grew by 30 per cent despite market turbulence February 15, 2023 Investment platform Hargreaves Lansdown today pledged to hike its dividend after it successfully boosted its profits in the face of widespread market turbulence. The online trading platform, which is known for its index fund offerings, said it grew its revenues by a fifth (20 per cent) over the final six months of 2022 despite the [...]
Supermarket wars: Waitrose to invest £100m in own brand products as it squares up to discount rivals February 15, 2023 Waitrose is to invest £100m in cutting prices on hundreds of its own-brand products amid intense competition in the sector as consumers battle record inflation. The upmarket grocer is reducing the prices of almost a third of its lowest-priced Essential Waitrose range by an average 14%, while almost a quarter of the cuts, which come [...]