Monthly insolvencies tick up again as firms feel the brunt of the Bank of England’s interest rate hikes February 16, 2024 According to figures from the Insolvency Service, there were 1,769 company insolvencies in January, five per cent higher than in the same period last year driven by an increase in forced closures.
Letters to the editor: Tourist tax proves puzzling, cross words for our crossword February 16, 2024 Each week we at City A.M. Towers receive some enlightening and occasionally constructively critical letters. Here are our favourites from this week.
Inflation and cost rises bring losses near £50m at Harringtons pet food maker February 16, 2024 A rise inflation and costs contributed to losses nearing £50m at the company behind the Harringtons pet food brand during its latest financial year, it has been revealed.
Outlook for London tenants improves (slightly) as rents stabilise after period of rapid growth February 16, 2024 The rental market in London appears to have peaked, with price growth steady month on month, according to new government figures.
EDF swings to profit on back of high electricity prices but notes £11bn Hinkley hit February 16, 2024 French nuclear power giant EDF swung to profit in 2023, despite booking a large impairment on the struggling Hinkley Point C project.
Scotch and spirits gave Treasury £1.4bn boost thanks to tax freeze February 16, 2024 Scotch whisky and spirits sales contributed more to the Treasury as a whole thanks to increased sales despite being taxed at a lower rate
Natwest notches highest profit since 2007 as bank feels interest rate boost February 16, 2024 The group said it had recorded an operating profit of £6.2bn for 2023, up 20 per cent on 2022's recorded figures.
Strong January retail sales raise hopes UK already ‘moving out of recession’ February 16, 2024 Retail sales rebounded much more than expected in January, following a poor Christmas period, raising hopes that the UK economy will be able to escape recession within a matter of months. Figures from the Office for National Statistics (ONS) showed that sales volumes were up 3.4 per cent in January, compared to the 1.5 per [...]
Moving markets today: What’s shaping the FTSE 100 this morning February 16, 2024 The S&P 500 hit a record high despite big tech losses, while the Nikkei reached new heights and oil remained stable. Investors awaited the release of UK retail sales and US PPI data.
FTSE 100: London markets rise as UK recession and poor retail sales bolster hope for interest rate cuts February 15, 2024 The UK economy shrunk 0.1 per cent in December meaning it contracted 0.3 per cent over the fourth quarter of last year, a worse performance than economists had expected.