Natwest shares downgraded by analysts after recent run March 6, 2025 Peel Hunt analysts have downgraded their rating on Natwest stock to ‘Add’ after previously telling investors to ‘Buy’. An ‘Add’ rating serves as a diluted version of the ‘Buy’ recommendation, which strongly recommends investors to purchase the stock. The analysts raised the Natwest’s target price to 510p, up from 470p, but said due to the [...]
Week in Business: Who will Rachel Reeves blame for higher taxes in Spring Statement? March 6, 2025 City AM Editor Christian May looks at the biggest business stories in his weekly video, today focusing on the UK economy and upcoming Spring Statement.
Harbour Energy shares tumble as profit wiped out by windfall tax March 6, 2025 Harbour Energy shares slumped on Thursday after the North Sea producer swung to an annual loss. The stock tumbled more than eleven per cent in early deals as the London-listed company reported losses of $93m (£72.1m), down from a prior year profit of $45m. North Sea producers have hit out at the UK’s windfall tax, [...]
FTSE 100 giant Admiral announces bumper special dividend as profit jumps March 6, 2025 FTSE 100 insurance giant Admiral has reported a significant jump in profit for 2024. Earnings per share nearly doubled to 216.6p, up from 111.2p in the previous year, as pre-tax earnings increased by 90 per cent to £839.2m Turnover rose by 28 per cent to £6.15bn, as insurance revenue grew by 37 per cent to [...]
Dettol and Nurofen owner Reckitt to sell divisions as it slims down March 6, 2025 Dettol, Lysol, Durex, and Nurofen owner Reckitt has delivered a mixed financial performance for 2024, with modest like-for-like revenue growth and increased profitability but a decline in reported net revenue due to foreign exchange impacts. Like-for-like net revenue rose 1.4 per cent, driven by gains in Hygiene and Health, while Nutrition declined. Hygiene and Health [...]
UK government plans to end North Sea windfall tax March 5, 2025 British oil and gas drillers could face a new tax regime following the energy crisis, which pegs levies to fluctuations in global oil and gas prices. The mechanism is intended to replace the notorious “windfall tax” and was outlined in a consultation on the North Sea published on Wednesday. The consultation also seeks to unravel [...]
Bank of England warns ‘age of uncertainty’ stopping rapid rate cuts March 5, 2025 An “age of uncertainty”, especially over the path of inflation, means that rapid interest rate cuts are unlikely to be coming to the UK, top Bank of England officials have said. Huw Pill, chief economist at the Bank of England, said the central bank was unlikely to make “larger and more rapid cuts to interest [...]
Legal sector continues to grow despite rising costs March 5, 2025 New research indicates that the legal sector remains resilient in uncertain ties after law firms' average earnings experienced single-digit growth.
UK jobs cuts accelerate as firms fret over stagflation March 5, 2025 UK service firms are cutting jobs at the sharpest rate since November 2020 as fears about the state of the economy spread. S&P Global’s latest UK Services PMI, which measures business activity in the services sector, found that 24 per cent of firms cut their employees in February, compared to only 13 per cent which [...]
M&S to invest £95m in staff pay despite higher wage taxes March 5, 2025 Marks and Spencer will invest £95m into higher pay for its retail staff, despite “cost pressures” from the government. From 1 April, the rate of pay for UK Customer Assistants will increase from £12 to £12.60 per hour, up five per cent year on year and up 26 per cent since 2022. It is higher [...]