Profit slumps by over £400m at Lloyds-owned car leasing firm August 27, 2024 Profit at the car leasing company owned by Lloyds Bank slumped by more than £400m during 2023, it has been revealed. Lex Autolease, which is headquartered in London, has posted a pre-tax profit of £124.4m for its latest financial year, according to newly-filed accounts with Companies House. The new total comes after the business posted [...]
Heineken’s biggest-ever price rises fail to stop slash in UK profit August 27, 2024 Heineken’s biggest-ever price rises in the UK failed to stop its profit being slashed during its latest financial year as it battled “economic volatility”. The Edinburgh-based division raised its prices in 2023 as it faced “significant inflationary pressure on input costs”, reducing consumer spending, higher labour costs and rising energy bills. According to newly-filed results, [...]
Labour should not be taking inspiration from Kamala Harris August 27, 2024 Labour has a long-standing love affair with the Democrats, but while the Vice President’s plans for price controls by any other name may be popular, but they are economically illiterate, says Eliot Wilson It is hard to believe that barely a month has passed since Joe Biden announced he would not seek re-election in November [...]
Ofgem’s energy price cap to increase by 10 per cent from October August 23, 2024 Households will pay £12 a month more for their gas and electricity bills starting in October after Ofgem announced it would lift its price cap. The energy price cap for the final quarter of 2024 will rise 10 per cent to £1,717 for a typical household in the UK, the energy regulator confirmed today. That [...]
Enough with the hysteria, NHS pay rises make us all richer August 22, 2024 NHS pay rises have sparked apocalyptic headlines, but a better public sector makes us all richer, writes Sam Fowles.
Tourists’ return boosts sales at Italian luxury fashion house Zegna August 21, 2024 Sales at the UK arm of Italian luxury fashion house Zegna jumped by almost a quarter in 2023 thanks to the return of tourists following the Covid-19 pandemic. The division has reported a turnover of £30.7m for the 12 months, up from the £24.8m it posted for 2022. Newly-filed accounts with Companies House also show [...]
Can we stop AI from destroying the planet? August 16, 2024 AI is increasingly finding itself in the crosshairs of investors concerned about its environmental toll. Many are coming to terms with the fact that the technology supposedly leading us into a smarter future might be dragging the planet backwards when it comes to climate commitments. Big tech’s climate ambitions are hitting a rather inconvenient truth: [...]
LG Electronics: UK sales suffer almost £100m fall as Samsung rivalry heats up August 14, 2024 Sales at the UK arm of LG Electronics have been slashed by almost £100m after it lost market share and Samsung stepped up its competition. The Surrey-headquartered division has reported a turnover of £561.4m for 2023, down from £654.3m, according to newly-filed documents with Companies House. Its pre-tax profit was also cut from £19.7m to [...]
UK inflation comes in below expectations in July August 14, 2024 UK inflation jumped back above the Bank of England’s two per cent target in July, but came in below City estimates for the period. According to figures released this morning by the Office for National Statistics (ONS), prices rose 2.2 per cent in July. Meanwhile, core inflation, or price rises excluding volatile food and energy [...]
UK economic data dump set to bolster case against September rate cut August 12, 2024 A slew of official UK economic data this week is poised to bolster the case for policymakers at the Bank of England not to cut interest rates next month, with inflation forecast to rise for the first time this year.