Home repossessions rise as higher interest rates bite borrowers February 10, 2025 The number of homeowners with mortgages facing repossession rose in the fourth quarter of 2024 as buyers struggled with higher interest rates. UK Finance figures show that repossessions rose 12 per cent in the last three months of 2024 compared to the previous year and were up 54 per cent yearly. Overall, 1,030 residential houses [...]
Watches of Switzerland: Rolex retailer bolstered by US sales February 6, 2025 Watches of Switzerland has expressed optimism about the European luxury market and noted momentum in the US, in the latest signs the global luxury market is beginning to recover from a two-year downturn. The watch retailer said the luxury market, which has been under pressure from lower disposable income and changing trends, has stabilised. The [...]
If you want to WFH, maybe you should work for yourself February 6, 2025 The reason behind the WFH crisis? People want the lifestyle of an entrepreneur but without the risks, writes Jamila Robertson.
LK Bennett: Luxury fashion brand loved by Princess of Wales slumps into the red February 5, 2025 LK Bennett, the luxury fashion brand loved by the likes of Catherine, Princess of Wales, has slumped into the red. The London-headquartered retailer has reported a pre-tax loss of £3.1m for the 12 months to 27 January, 2024, according to newly-filed accounts with Companies House. The loss comes after LK Bennett posted a pre-tax profit [...]
Grocery inflation slowed as supermarket discounts deepened February 4, 2025 Grocery inflation in January slowed for the first time in six months after supermarkets lowered prices in response to stretched household budgets. Inflation was 3.3 per cent in January, easing from 3.7 per cent in December, according to the latest figures from Kantar. Prices rose for chocolate, juices and butters, but fell for cooking sauces, [...]
Businesses welcome Reeves’ growth agenda but what about the public? February 3, 2025 Rachel Reeves is talking a good game on growth, but Labour won’t be rewarded at the ballot box unless they can help ordinary people to feel better off, says Theresa Bischof Growth is in. And so too, is business apparently. Last week, Rachel Reeves and her growth brigade took a trip to Siemens in Witney [...]
House price growth slows despite ‘busier January than normal’ January 31, 2025 House price growth slowed slightly in January, but year-on-year growth remained robust despite higher interest rates. The annual rate of house price growth slowed to 4.1 per cent in January, compared with 4.7 per cent in December, according to the Nationwide House Price Index. House prices increased by 0.1 per cent month on month, after [...]
Pembroke VCT boss Andrew Wolfson: ‘New founders aren’t blaming Brexit’ January 30, 2025 Pembroke VCT boss Andrew Wolfson has backed brands like TALA and Pasta Evangelists. He tells us the wisdom he's picked up along his career.
Virgin Wines: ‘A decent Christmas was needed and delivered’ January 29, 2025 Virgin Wines delivered a strong Christmas trading performance and outperformed the wider market, although revenue remained flat year on year. Revenue increased by 6.7 per cent year-on year during the six weeks to 27 December, 2024, the company told markets this morning. Sales rose nine per cent in December 2024 versus December 2023, reaching the highest level since the Covid-19 lockdowns, [...]
Grow, baby, grow… but will Labour’s growth agenda be enough? January 29, 2025 City AM’s politics reporter, Jessica Frank-Keyes, unpacks the week in Westminster. Today, she tackles Labour’s growing promises. Picture a graph with the x axis stretching from 1800 to the present day. The data is represented as a fairly flat line along the bottom, up to about 1960. Then it bumps around at about a quarter [...]