Why better business planning can help us save the world November 24, 2022 The recent COP27 summit in Egypt has further reinforced the urgency of the climate threat. As countries, as organisations, and as individuals, we need to do far more to combat climate change, and act much faster than we’re acting today. I believe that finance professionals can play a crucial role in the collective effort to [...]
Taxman grabs 30 per cent more from Brits over last five years November 23, 2022 The amount of money the taxman takes away from Brits has climbed 30 per cent over the last five years, City A.M. analysis of official figures shows. In the year to 31 October this year, HMRC collected £757bn in taxes, up from £584bn in 2015/16, stats out this week reveal. The rise in tax revenues [...]
Investment in public health could boost GDP by £180bn each year, says CBI November 23, 2022 Investments in healthcare and wellness are investments in the economy, according to the Confederation of British Industry (CBI). The UK loses 131m working days a year to ill-health, costing the nation around £180bn in GDP, data from the CBI’s new Work Health Index revealed yesterday. “Labour market resilience is a precondition to growth,” CBI president [...]
F1 testing provider AB Dynamics ‘not impacted’ by UK financial turmoil November 23, 2022 The UK’s current financial turmoil will not impact automotive testing system provider AB Dynamics, its chief executive James Routh said. “The UK is typically about 2 per cent of our revenue, so the turmoil doesn’t really bother us too much,” Routh told City A.M. on Wednesday. “Only when it comes to dealing with local inflation [...]
Londonmetric suffers £100m rates-fuelled blow to property portfolio value November 23, 2022 Londonmetric Property has emerged as the latest real estate investment trust to suffer an interest rates-fuelled hit to its portfolio. The portfolio, which still stands at £3.5bn, has shed £100m in value since March, as the company’s property and capital returns dwindle. Rising interest rates has eroded the value of several of the UK’s largest [...]
UK economy arrests decline but recession still coming November 23, 2022 The UK economy has arrested a decline, but it still looks likely to tip into a long recession, a closely watched survey out today has unveiled. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) flash purchasing managers’ index (PMI) for November inched up to 48.3 points from 48.2 in October. It is [...]
Johnson Matthey profits chipped away by inflation and supply chain woes November 23, 2022 Johnson Matthey’s profits have been eaten into by soaring inflation and ongoing supply chain disruptions. The British chemicals maker had its operating profit dive a quarter to £222m on an underlying basis in the six months to the end of September, according to the group’s latest results. Supply chain constraints have hit the group’s clean [...]
Halfords focusing on offering shoppers more essentials as they slash discretionary spending November 23, 2022 Halfords must transform into offering more essential products as shoppers trim back discretionary purchases, bosses said on Wednesday morning. The cycling specialist said that a switch-up to selling more “needs-based” items was key as the firm must become less “reliant and exposed to the volatility of more discretionary product markets.” It warned it was expecting [...]
Discoverie weathers UK economic storm with record orders November 23, 2022 British electronics designer and manufacturer Discoverie is hoping the size – and cost – of its products will be the key to weathering the UK’s economic storm. The London-listed company has seen its underlying operating profit rise more than a third to £25.6m in the past six months, while pre-tax profit boomed over 130 per [...]
Pets At Home: Animal ownership ‘not just Covid trend’ as profit slips November 23, 2022 The chief of Pets At Home has said pet owners are keen to treat their animals still, as the FTSE 250 firm posts subdued profit before tax. In interim results, the London-listed business posted underlying profit before tax of £59.2m, some 9.3 per cent below its previous half-year sum of £65.3m. Profit slipped due to [...]