UK edges further away from recession as families’ economy and inflation outlook brightens February 24, 2023 Another brighter than expected set of economic numbers out today indicate the UK has a chance of avoiding a much-tipped recession this year. Consumer confidence climbed faster than forecast to minus 38 points this month, up seven points from minus 45 points in January, according to research firm Growth for Knowledge’s index which has been [...]
Hargreaves Lansdown chief on spats with the founder, his time at the top and the power of retail investors February 23, 2023 At times of turbulence, retail investors are entirely rational creatures. At least, that’s the view of Chris Hill, the outgoing boss of Britain’s largest retail investment and savings platform, Hargreaves Lansdown. Hill – who has been at the helm of the retail giant since 2016 and is preparing to step down in November – was [...]
Drax: Biomass energy giant which received £6bn from taxpayer reports 84 per cent earnings hike February 23, 2023 Power generation firm Drax is the latest winner from the energy price crisis, with its earnings up 84 per cent in the last 12 months to £731m. Drax, which received £6bn in green energy subsidies from British taxpayers over the last four-decades, was the latest energy giant to announce bumper profits; recent announcements include Shell [...]
The Square Mile and Me: Aon’s Dominic Christian on the Lamb, the Broker and the City’s green ambitions February 23, 2023 Every week we ask the great and good of the Square Mile to share their memories of the City – and their favourite pubs and restaurants. This week it’s Dominic Christian, Chair of Aon’s Global Reinsurance Solutions business and a City councilman First memory of the Square Mile Scary, surreal, fascinating. Suits everywhere. Everyone seemed [...]
We didn’t know it, but it was 2015 not 2008 that changed the housing market forever February 23, 2023 2015 was the year when the "demand and supply" argument in housing was won and lost. Supply won the argument, because in order to build more, we have to drive more affordability first, writes Giles Mackay
FTSE 100 close: Wall Street sell off spreads to London pushing premier index further away from 8,000 point mark February 22, 2023 London’s FTSE 100 was drawn into a sell off on Wall Street last night, pushing it further below the 8,000 point threshold today. The capital’s premier index fell 0.59 to 7,930.64 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, slid 0.82 per cent to [...]
Cost of living crisis forces Brits to abandon saving, with more than one in five taking on EXTRA debt February 22, 2023 The cost of living crisis is poised to force Brits to shun setting cash aside each month for a rainy day, official figures out today show. More than four in 10 of the population expect to save no money whatsoever over the next year, according to the Office for National Statistics (ONS). Inflation has raced [...]
Zalando forced to axe jobs as retailer admits it expanded ‘too much’ February 21, 2023 The German-based group, which sells a range of brands such as adidas and Nike, said it had expanded some parts of its company “too much”.
BT Sport to become TNT Sports: Here’s what it means for price, programming and existing customers February 21, 2023 BT Sport is to be rebranded as TNT Sports in the first major development of the joint venture between BT Group and Warner Bros Discovery. Under the rebrand, which will take place in July, programming will stay largely the same, with TNT Sports remaining centred around live Premier League and Champions League football, domestic and [...]
FTSE 100 close: London index dips below 8,000 point mark on interest rate hike fears February 21, 2023 London’s FTSE 100 closed below the 8,000 point today driven lower by a broad sell off fuelled by investors sweating over more interest rate rises from central banks. The capital’s premier index slipped 0.46 per cent to 7,977.74 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]