Landscaping firm Marshalls back to pre-pandemic levels of profit March 17, 2022 Marshalls, which produces stone and concrete for landscaping, has returned to pre-pandemic levels of revenue and profit. The Yorkshire-based construction firm’s full year results for 2021 include revenue of almost £590m, a 25 per cent increase on 2020, and nearly £50m, more than for 2019, pre Covid. Its EBITDA (earnings before interest, taxes, depreciation, and [...]
Think tanks call for government to ensure secure gas supplies as market crisis deepens March 16, 2022 Think tanks call on government must ensure gas supplies are resilient this winter following Russia's invasion of Ukraine and spiking wholesale costs.
US Federal Reserve hikes rates for first time since 2018 as lift off begins March 16, 2022 The US Federal Reserve today hiked the world’s most important interest rate for the first time since 2018 in what is expected to be the first step in one of the fastest tightening cycles in recent history. Fed Chair Jerome Powell and the Federal Open Market Committee (FOMC) raised rates 25 basis points to between [...]
HMRC contacts just 0.4 per cent of UK crypto holders about tax rules March 16, 2022 HM Revenue & Customs contacted just 0.4 per cent of the estimated 2.3m crypto holders in the UK about owing tax on their investments.
Rampant inflation to push tax bills £12bn above forecasts March 16, 2022 Rampant inflation is set to deliver an even harsher hit to households’ tax bills than first thought, reveals fresh analysis released today. A higher cost of living will result in a £12.5bn larger tax hike, piling more pressure on Brits’ already stretched finances, according to the Institute for Fiscal Studies (IFS). Chancellor Rishi Sunak’s decision [...]
Interview: Former rate setter Andrew Sentance on Governor Bailey’s ‘off the cuff’ remarks and where the BoE went wrong March 16, 2022 It is often a mark of how dire an economy’s situation is when incremental rises in interest rates hit the front pages. The worst cost of living crunch in a generation has, however, sent the Bank of England to the front of many households’ minds. Those outside of the City care less about the vagaries [...]
BMW cuts 2022 profit margins as Ukraine war worsens supply chain issues March 16, 2022 BMW announced today it was cutting its 2022 profit margin forecast after the war in Ukraine caused new supply chain disruptions. The automotive maker said its EBIT margin will go down from between 8 and 10 per cent to between 7 and 9 per cent, warning supply chain issues could severely hinder production. Despite engaging [...]
China to dial back crackdown on overseas listings as markets leap March 16, 2022 China is set to ease its crackdown on overseas listings following months of market volatility and work with the US to reach an agreement on audit requirements. The China Securities Regulatory Commission confirmed today that China will communicate with US regulators to usher in greater cooperation between the pair. The government will begin to “actively [...]
What is the outlook for UK dividends in a less certain world? March 16, 2022 Russia’s invasion of Ukraine looks set to exacerbate economic trends which had already been influencing markets. Amid the uncertainty, experienced investors Sue Noffke and Graham Ashby give their views on the outlook for UK dividends. Investors had already been viewing markets in a more cautionary manner, even before Russian troops amassed on the border with [...]
Soft drink giant Fever Tree highlights short term cost ‘uncertainty’ amid war in Ukraine March 16, 2022 Beverage maker Fever Tree has said Russia’s invasion of Ukraine has caused “significant uncertainty” for short term costs. Tim Warrillow, co-founder and CEO of Fever-Tree, said the war in Ukraine had “resulted in significant uncertainty in relation to our input costs in the short term.” UK revenue leaped 15 per cent in full year results [...]