Thames Water asks watchdog to let it charge even higher bills February 14, 2025 Thames Water is asking the competition regulator to allow it to charge customers even more over the coming years than had previously been granted. The company has already been allowed a 35 per cent rise in consumer bills over the next five years by water regulator Ofwat, after Thames had previously lobbied for a 59 per cent hike. Now, it wants [...]
Nikon: Profit cut in half amid falling demand February 14, 2025 Profit was cut in half at the European arm of Nikon amid falling demand in its healthcare business, it has been revealed. The division of the Japanese giant has reported a pre-tax profit of €13.5m (£11.2m) for the 12 months to 31 March, 2024, according to newly-filed accounts with Companies House. The latest figure comes [...]
Segro: Data centre demand fuels growth at warehousing giant February 14, 2025 Warehousing giant Segro has reported a double-digit jump in profit driven by demand for data centres and improving investment market conditions. Shares were flat in early trades. Adjusted profit before tax at the FTSE-100 real estate investment trust (REIT) grew 14.9 per cent in the year ended December 31 to £470m. Adjusted earnings per share rose 5.5 per [...]
Natwest skims past profit expectations February 14, 2025 Natwest narrowly beat analysts’ annual profit expectations after posting a bump in its consumer lending. The FTSE 100 lender posted a £6.2bn pre-tax profit, ahead of £6.1bn pencilled in by analysts and up 0.3 per cent on 2023. Net loans to customers hit £368.5bn, an increase of £12.9bn, which reflected Natwest’s acquisition of Metro Bank’s [...]
HSBC to unveil $1.5bn in savings alongside financial results February 14, 2025 Citing two people familiar with the matter, the FT reported that the savings will largely come from HSBC's decision to withdraw from non-core markets.
Whisky Business: The Glenlivet’s oldest permanent expression to date February 14, 2025 Whisky Business: City AM’s monthly look at the world of whisky. The key to whisky’s unique flavour is patience, but for producers, there will always be a trade-off between patience and profit. While the process of distilling whisky only takes a few days, Scotch whisky must be matured for a minimum of three years, a significant [...]
National insurance hike has ‘taken a bite’ out of London labour market February 14, 2025 Permanent placements made by recruitment firms fell for the sixth consecutive month in January, according to a survey from KPMG and the REC.
What do falling interest rates mean for my finances? February 14, 2025 The Bank of England trimmed interest rates to 4.5 percent in February, the first of what could be multiple cuts this year aimed at kickstarting the UK’s weak economic growth. This raises questions about what loosening monetary policy could mean for savers’ finances. The BoE now expects GDP growth “to be notably weaker in the near [...]
Rachel Reeves ‘investigated over expenses’ in HBOS banking job February 13, 2025 Rachel Reeves was investigated over her use of expenses while working in a banking job before becoming an MP. The Chancellor, alongside two colleagues, was subject to an internal probe into expenses claims, while she was a senior manager at Halifax Bank of Scotland (HBOS) in the late 2000s, the BBC has revealed. Reeves is [...]
‘Temporary share price glitch’ sends Barclays shares lower February 13, 2025 Shares in Barclays slumped on Thursday morning after the bank posted its annual results. The Big Four bank reported a £8.1bn pre-tax profit, up 24 per cent from 2024, surpassing analyst expectations of £8.07bn. However, its stock dropped five per cent, as low as 290.34p after the market opened. Still, despite the drop, Peel Hunt [...]