Standard Chartered mulls sale of three African units November 27, 2024 Standard Chartered is exploring a sale of its wealth management and retail operations in three African countries as the banking giant seeks to free up firepower for its investment plans.
‘Were did you get that?’ How an entrepreneur is taking word of mouth online November 26, 2024 How many times have you found yourself distracted by a paid advertisement pop-up while endlessly scrolling through your favourite social media platform? This type of algorithm is an average experience for the majority of social media users today, and one that often dominates a large portion of any brand’s marketing budget. Tiktok, for example, is [...]
MPs to vote on smoking ban bill and ‘harmful’ vape sales aimed at children November 26, 2024 MPs are to vote on a landmark smoking bill which would raise the legal tobacco purchasing age and clamp down on “harmful” childhood vaping. Parliament will have its first debate on the measures in the proposed new law, followed by a vote in the House of Commons later today, in what’s known as the ‘second [...]
Halfords to take £23m hit from Budget but maintains 2025 guidance November 26, 2024 In its latest interim results, the retailer said that the combined effect of policies announced in the Budget would put up costs by around £23m, of which around £9m was already fully mitigated.
AO World: Double-digit growth ahead of musicMagpie deal November 26, 2024 Electrical retailer AO World has announced double-digit growth in retail revenue and operating profit as it continues its “laser focus” on cost and efficiency ahead of its acquisition of musicMagpie. Business-to-consumer retail revenue grew by 13 per cent year on year in the six months ended 30 September from £339m to £382m, AO World told [...]
Retail chief warns about return of inflation after tax-raising budget November 26, 2024 The chief of the British Retail Consortium (BRC) has warned that tax-raising measures announced in the latest government may lead to the return of inflation in the UK. Shop prices remained in deflation in November, down 0.6 per cent month on month, up from deflation of 0.8 per cent in the previous month. Shop price [...]
Investors shed Kingfisher stocks as trading update a ‘clear disappointment’ November 25, 2024 After a strong run for much of the year, Kingfisher stocks have plummeted more than 13 per cent this morning as investors reacted to an underwhelming sales update. The top end of its previously-guided profit forecast of between £510m and £550m has been shaved to between £510m and £540n. While the estimate “does not represent [...]
Very Group: Loss widens at Nadhim Zahawi-led Littlewoods owner November 25, 2024 The Very Group, which is chaired by former Chancellor Nadhim Zahawi, lost more in the first quarter of its new financial year than it did in its last 12 months, it has been revealed. The Liverpool-headquartered group, which is owned by the billionaire Barclay family, has reported a pre-tax loss of £22.9m for the 13 [...]
B&Q and Screwfix owner Kingfisher: Weak trading in France and £45m tax hit cause shares to plummet November 25, 2024 Shares in Kingfisher, the parent company of B&Q and Screwfix, have dropped nearly 13 per cent after it tightened profit guidance due to weak trading in France and a higher tax bill in both France and the UK. Kingfisher expects the impact of changes to employers’ national insurance contributions (NICs) announced in the UK’s latest [...]
Labour’s Budget will ‘hit growth’, CBI boss warns November 25, 2024 In a speech set to be delivered at the CBI's annual conference later today, Newton-Smith will warn about the impact of the Budget on businesses.