FTSE 100 close: ASOS and Centrica pop to crystalise strong start to 2023 January 12, 2023 London’s FTSE 100 built on gains yesterday that propelled to its highest level since 2018 after a series of British bellwether retailers posted a decent set of results this morning and the owner of British Gas skyrocketed. The capital’s premier index closed up 0.89 per cent at 7,794.04 points, while the domestically-focused, mid-cap FTSE 250 [...]
British Gas owner Centrica predicts eightfold profit hike after energy price surge January 12, 2023 British Gas owner Centrica has predicted a near eightfold increase in its full-year profits, powered by soaring energy prices.
Mark Kleinman: My bold predictions for 2023 in the City – from Natwest to Spurs January 11, 2023 After the political and economic events of 2022, the idea of being able to predict anything with confidence seems even more outlandish than usual. Nevertheless, with the UK economy precariously balanced less than two years before a general election, these seem – in early January – to be sensible bets for UK plc in 2023. [...]
FTSE 100 close: JD Sports springs London flagship index to 2018 high January 11, 2023 London’s FTSE 100 index leapt to its highest level since 2018 in afternoon exchanges in the City today after a series of strong retailer earnings signalled the UK consumer is holding up well amid the cost of living crunch. The FTSE 100 index climbed 0.99 per cent to 7,770 points, while the domestically-focused mid-cap FTSE [...]
Boohoo: Tears as online retailer prepares major jobs cull at London Soho office January 11, 2023 Online fast-fashion retailer Boohoo is preparing to slash over 100 jobs in its London Soho office as it continues to integrate a recent spate of big brand acquisitions. The majority of roles at risk of being cut are believed to be among Boohoo’s e-commerce, buying and design teams,; although the exact number of redundancies is [...]
Stop blaming lazy landlords for empty shops and look for the cause not the symptom January 11, 2023 We're blaming landlords for empty high streets because we're too scared to look at the real problem underneath, the falling incomes across the country putting retail in a binds, writes Dominic Curran.
Letters: A birthday wish for the internet January 11, 2023 [Re: As the Internet turns forty, we must invest in digital skills, Jan 4] With the internet turning middle-aged this year, the importance of data for businesses has never been more central. The 40th birthday of the internet should act as a call to arms for business leaders as online innovation enters a new stage. [...]
Recruiter Robert Walters sounds profit alarm on recession chilling UK jobs market January 10, 2023 Jitters over the UK economy tumbling into a tough recession is likely to trigger a hiring slow down, sparking recruiter Robert Walters to today warn its full year profits will drop below expectations. The alert sent the firm’s London-listed shares down more than three per cent today, clawing back some ground after shedding around nine [...]
Scrapping bankers’ bonus cap is a return to global norms, says City minister January 10, 2023 City minister Andrew Griffith said today that scrapping the bankers’ bonus cap would realign Britain with global financial norms, as he faced questions from MPs in parliament about the government’s so-called Edinburgh Reforms. Discussing bankers’ bonuses, Griffith said “we have departed from global norms… the global competitive set do not have this (bonus cap).” London, [...]
Plus500: Fintech group tops analysts’ estimates after boost in ‘high-value’ traders January 10, 2023 Fintech trading group Plus500 topped market expectations today as it said revenues for its full year swelled to around $832m on the back of a boost in "high value, long term" customers.