Mitchells & Butlers: Sales at Toby Carvery and All Bar One operator outperform September 26, 2024 Restaurant, pub, and bar operator Mitchells & Butlers, which owns the Toby Carvery and All Bar One brands, has reported rising sales in a slowly recovering industry. Like-for-like sales at the no-frills pub chain grew by 5.2 per cent during the 51 weeks to 21 September, driven by growth of 7.7 per cent in the [...]
Pound’s strength against the dollar risks ‘damage’ to UK’s competitiveness September 25, 2024 The pound reaching its highest level in over two years against the dollar risks damaging the international competitiveness of the UK, City analysts have warned. Sterling now sits at $1.34, its highest since February 2022 and far from its low point of $1.03 in the days after Liz Truss’ mini budget. However, while the strength [...]
Bank’s Megan Greene calls for ‘steady-as-she goes’ approach to cutting interest rates September 25, 2024 Megan Greene, one of the Monetary Policy Committee's (MPC) more hawkish members, said a "gradual approach" to lowering borrowing costs was "appropriate" given the balance of risks facing the economy.
Asos to cut 200 jobs at head office as it battles cheaper fast fashion rivals September 25, 2024 Asos is planning to chop 200 roles from its head office as it looks to restructure its business in the face of mounting difficulties post-pandemic due to intense competition from cheaper rivals, according to reports. Asos said that current set-up was “no longer suitable for today’s business priorities and context… We need to move faster [...]
UK economy gets another growth upgrade but OECD warns on ‘sticky’ inflation September 25, 2024 Chancellor Rachel Rachel said she "welcomed" the upgraded projection, but said there is "more to do".
Andrews Sykes: Profit dips at air conditioning supplier after cool summer trading September 25, 2024 Andrew Sykes said revenue for the six months ended 30 June came in at £38.4m, down from £38.8m the year prior.
On the Beach hails record booking haul after summer travel boom September 25, 2024 On the Beach told markets the performance had been "underpinned" by 13 per cent volume growth over the peak summer trading period.
Take it from a tax expert, we are all too obsessed with Reeves’s Budget September 25, 2024 Reeves' Budget has become the talk of the town, but even KPMG tax expert Tim Sarson thinks we should calm down about it
Dulux: Paint giant to slash 2,000 jobs September 24, 2024 Thousands of jobs are set to be lost after the paint giant behind Dulux revealed plans to scale back its headcount in a bid to cut costs. In a statement issued on Tuesday, AkzoNobel confirmed it plans to complete a raft of redundancies by the end of 2025 to make its operations more efficient. The [...]
Bank of England’s Bailey doubts interest rates will fall back to near zero September 24, 2024 With inflationary pressures easing, rate-setters cut rates for the first time since the pandemic in August. However, they subsequently voted 8-1 to keep rates steady last week.