FTSE 100 dragged down by Persimmon tumbling after property market warning November 8, 2022 London’s FTSE 100 today was pulled down by house builder Persimmon tumbling after it warned rising rates will hit its bottom line. The capital’s premier index edged 0.08 per cent higher to 7,306.14 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0,75 per [...]
Watchdog ‘cherry-picking’ buy-now pay-later rules, fintech groups claim November 8, 2022 Fintech bodies have rounded on the City watchdog for “cherry-picking” its regulation of buy-now pay-later firms today, after it threatened executives with jail time for contravening financial promotion rules.
London markets ‘completely throttled’ by regulation, says former exchange chief November 8, 2022 The UK’s equity market has been “taxed to death” and “completely throttled” by fiscal policies and regulation, the former chief of the London Stock Exchange Group has claimed, as he warned the Capital was in danger of losing its status as a global financial services hub.
Treasury-backed fintech body calls in open banking chief as chair November 8, 2022 A government-backed body set up to boost the country’s fintech sector has appointed industry grandee Charlotte Crosswell as its chair today, as it readies to start operations following a £5.5m Treasury funding commitment last year.
Hilton Foods warns profit will be dented after slower than expected cost mitigation talks November 8, 2022 Meat packer Hilton Foods warned its annual operating profit would take a hit after challenges passing on high inflationary costs in its seafood arm, causing shares to plunge. In a trading update on Tuesday morning, the FTSE 250 firm admitted its profit would come in at a lower than anticipated sum following challenges in its [...]
Primark owner takes £1bn extra inflation hit amid ‘most challenging’ economy for many years November 8, 2022 Primark owner Associated British Foods (ABF) saw inflationary costs leap by £1bn this year alone, as it weathers “highly volatile” economic conditions and hopes to retain shoppers with its low prices. The chairman of the fashion and food business, Michael McLintock, said ABF had “encountered the most challenging economic conditions for many years with sharply [...]
Retailers bet on coronation boost after extra May bank holiday announced November 6, 2022 Retailers are hoping for a royally big boost next year after the government announces an extra bank holiday for King Charles III’s coronation. In an announcement today, Prime Minister Rishi Sunak confirmed the UK-wide holiday would fall on Monday 8 May, following the Coronation on Saturday 6 May. “The Coronation of a new monarch is [...]
West End Christmas intake to be squeezed by pandemic and cost of living at £1.55bn November 3, 2022 West End Christmas intake is set to be a quarter up from last year but still almost 30 per cent down on pre-Covid levels. Around £1.55bn is set to be splashed out in the heart of London’s shopping district, as the capital bounces back from the pandemic in a restriction-free Christmas. The cost of living [...]
Next sales ahead of expectations as analysts warn ‘worst still to come’ November 2, 2022 Fashion stalwart Next posted better than expected full price sales while analysts have warned the full impact of market volatility is yet to be seen. The retailer shared a 0.4 per cent boost to sales in its third quarter versus last year. The London listed chain reiterated full year guidance for profit before tax of [...]
London’s FTSE 100 kicked higher by Ocado skyrocketing 38 per cent November 1, 2022 London’s FTSE 100 kicked higher today, driven by middle class favourite and online supermarket Ocado being goosed after it said it was partnering with a South Korean retailer. The capital’s premier index climbed 1.29 per cent to 7,186.16 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the UK economy, added [...]