Post Office: MPs to hold inquiry into compensation ‘unfinished business’ October 31, 2024 MPs are set to launch an inquiry into the “unfinished business” of financial redress for victims of the Post Office Horizon scandal. The business and trade committee will hold a short probe focused on “fast and fair redress” for those affected by what has been dubbed the biggest miscarriage of justice in UK history. It [...]
Selfridges sinks further into the red as sales at luxury department store falter October 31, 2024 Luxury department store chain Selfridges has lost more than £400m since it last made a pre-tax profit, it has been revealed. The business, which has UK stores in London, Birmingham and two in Manchester, passed the milestone after falling to a £41.9m loss in the year to 3 February, 2024. It comes after Selfridges previously [...]
The Capitalist: Brewdog’s Linkedin love-in; Stormzy’s house party; a new City landmark October 31, 2024 Hair dyeing disasters, Brewdog's Linkedin love-in and a Christmas visit for the City: catch up on the latest gossip in The Capitalist.
Let’s be honest… this Budget is austerity for the private sector October 30, 2024 Rachel Reeves has introduced a new kind of Marxism with this Budget, where private industry foots the bill for an expanding public sector, and the poorest don’t get better off, says Mattew Lesh Just two months ago, in a speech delivered inside Downing Street, Keir Starmer declared that growth and wealth creation were his government’s [...]
Autumn Budget 2024: All the key announcements October 30, 2024 After weeks of speculation, Rachel Reeves has delivered her first Budget as Chancellor to the House of Commons. The Budget was the first from a Labour government in 14 years and the first one ever by a female Chancellor. The 77-minute address to MPs featured a wide range of announcements which City AM has summarized [...]
Autumn Budget 2024: Taxes rocket by £40bn as employers told to pay more October 30, 2024 Rachel Reeves has hiked employers’ national insurance contributions (NICs) by 1.2 per cent, as she delivered the Labour government’s first Autumn Budget in office, which saw taxes rise by a record £40bn and government borrowing increase. The Chancellor unveiled the rise – which is set to see the levy hit 15 per cent for firms [...]
Google: AI investment pays off as cloud drives revenue growth October 30, 2024 Google’s parent company, Alphabet, reported increased revenue in the third quarter due to its strong performance in its Google Cloud division. In its third-quarter trading update, the company posted revenue of $88.3bn (£67.8bn), a 15 per cent increase from the second-quarter. However, growth at the firm’s core advertising business lagged the wider group. The total [...]
Bulmers help C&C outperform the alcohol market October 29, 2024 Drinks company C&C has reported results in line with expectations as its core brands Bulmers and Tennent’s outperformed the market. The company has also reconfirmed its commitment to return a minimum of €150m (£125m) to shareholders over the next three years, adding that it has already completed €38m of buybacks. C&C will pay an interim [...]
BP beats estimates despite lower oil prices October 29, 2024 FTSE 100 oil giant BP has reported strong-than-expected earnings for the third quarter. On Tuesday, it posted an underlying replacement cost profit, used as a proxy for net profit, of $2.3bn (£1.8bn) for the three months to 30 September. The figure beat analyst expectations of $2.1bn (£1.6bn), according to an LSEG-compiled consensus. However, the figure [...]
Hundreds gather for Tommy Robinson’s protest which he will miss in custody October 26, 2024 Hundreds of Tommy Robinson supporters are gathering in central London for a planned protest which the political activist will miss after he was remanded into custody by police. Chants of “Oh Tommy, Tommy” and “We want Starmer out” were heard outside Victoria station ahead of the Unite The Kingdom rally on Saturday. The demonstration is [...]