European Central Bank leaves rates negative despite inflation hitting record high March 10, 2022 The European Central Bank left interest rates unchanged in negative territory today despite inflation on the Continent running at a record high. President Christine Lagarde and co kept borrowing costs at minus 0.5 per cent, where they have been for several years, sticking with its more dovish stance toward monetary policy. The ECB has been [...]
Gas prices hit record levels this month reveals Office for National Statistics March 10, 2022 Gas prices soared 66 per cent in the week up to 6 March 2022 to record levels at 15.5p per kilowatt hour (kWH), according to the ONS.
Gen I: social media and crypto behind wave of new British investors March 10, 2022 Social media and crypto has inspired a wave of new investors dubbed 'Gen I' to join the market fresh data has revealed.
Crypto markets lose yesterday’s gains ahead of European interest rate announcement March 10, 2022 Any gains made yesterday have been mostly wiped out overnight, with the price of Bitcoin back at around $39k this morning.
Ukraine war backfires as Russia’s economy is expected to take dramatic 10 per cent hit this year March 10, 2022 Analysts this morning revised their economic forecast for Russia in light of international sanctions imposed following the invasion of Ukraine. Experts at the Economic Intelligence Unit (EIU) said they expect economic activity to be severely disrupted with both domestic demand and the external sector taking a hit. “While the full impact of international sanctions and [...]
DS Smith: What inflation? Amazon partner shrugs off rising costs March 10, 2022 DS Smith reported its latest results this morning, which were largely in-line with expectations. The group’s been able to fully offset rising costs with price increases and volume growth. The impact of rising energy costs has been mitigated by improved efficiency and a hedging strategy. Full year like-for-like volume growth is expected to be in [...]
Construction group Hill & Smith reports profits boost despite supply chain strains March 10, 2022 International construction and infrastructure firm Hill & Smith reported a jump in full-year profits today after suffering a slowdown in trading through the pandemic.
Topps Tiles snags majority stake in online tiling supplier March 10, 2022 Topps Tiles has snagged a majority stake in an online tiling supplier, in a bid to bolster its retail and commercial brands. The London-listed tiling company has acquired a 60 per cent share of the supplier for £5.3m in cash. Chief executive Rob Parker added that the deal also moves the company closer to its [...]
Higher return rates impact Boohoo’s sales growth March 10, 2022 Boohoo said today its net sales growth in the fourth quarter of FY22 was impacted by Brits’ post-pandemic ‘buy before you try attitude’ . The company explained that the higher rate of items returned was due to changing consumption patterns, as people shifted from buying more ‘athleisure’ during the pandemic to mixing it up with [...]
Staff at John Lewis to share £46m bonus pot after profits rebound by nearly 40 per cent March 10, 2022 Staff at the John Lewis Partnership will share a £46m bonus pot after the retail giant saw underlying annual profits rebound by 38 per cent. The group, which also owns upmarket supermarket chain Waitrose, said it will pay a bonus of 3% to its employees, or one-and-a-half weeks’ pay, and increase wages by 2 per [...]