Rachel Reeves warned a capital gains tax hike could trigger a market sell-off October 17, 2024 Investors could begin offloading stocks ahead of the Budget this month amid rumours the Chancellor is preparing to hike the level of capital gains tax (CGT) paid on shares, analysts have warned. Rachel Reeves is set to use her inaugural budget on 30 October to lift by several percentage points the charge paid by investors [...]
Why investors are switching from bullion bars to coins amid Budget capital gains tax fears October 17, 2024 The sale of bullion bars has suffered a sharp drop amid fears Chancellor Rachel Reeves could hike capital gains tax in the Budget later this month. The Royal Mint has revealed sales of bullion bars, which are subject to capital gains tax, fell by 11 per cent year on year in the three months to [...]
Arbuthnot: Historic bank leans on wealth unit as rate cut hits lending income October 17, 2024 Arbuthnot Banking Group reported growth in its wealth management arm as the historic lender looks to weather a fall in interest rates.
HS2 back on track: Troubled line will run from London Euston after all October 17, 2024 The government is reportedly planning to reverse its decision to scrap the northern leg of HS2, extending the high-speed rail line from London Euston to Crewe. Having originally planned for the project to cost £37.5bn in 2009, the government’s latest estimation in Febuary this year ballooned to anywhere between £72bn and £98bn. Private talks involving [...]
Mecca Bingo owner Rank Group wins again with double-digit growth October 17, 2024 Mecca Bingo owner Rank Group has reported double-digit growth as UK patrons flock back to casinos and digital gambling channels. In an update to markets this morning, the London-listed gambling firm said group like-for-like Net Gaming Revenue (NGR) jumped 12 per cent to £197.4m, building on the momentum of a return to casinos. Venues NGR [...]
Weak Rathbones results cause wealth manager’s stock price to dip October 17, 2024 Rathbones reported a weak three months as assets dropped by 0.1 per cent thanks to investors pulling £561m from the wealth manager. The wealth manager’s stock dropped by more than three per cent upon market open this morning following the publication of its quarterly results. Withdrawals from the business were caused by a variety of [...]
Tarmac: Building materials group sheds jobs as turnover hits £2bn October 17, 2024 Turnover at building materials group Tarmac hit £2bn during its latest financial year as its profit jumped, it has been revealed. The Solihull-headquartered company’s increased sales in 2023 come after its turnover stood at £1.99bn in 2022. Newly-filed accounts with Companies House also show its pre-tax profit improved from £125.9m to £168.1m over the same [...]
Man Group outflows jump after large client pulls funds October 17, 2024 Man Group was hit by $5.5bn (£4.2bn) in outflows during the three months to September, driven by a single client redeeming its money.
TJ Maxx sales pass £4bn to hit new record October 17, 2024 Sales at the UK arm of TJ Maxx passed the £4bn mark during its latest financial year to hit a new record, it has been revealed. Newly-filed accounts with Companies House show the firm’s turnover increased from £3.88bn to £4.02bn in the 12 months to 3 February, 2024. Despite the rise in sales, TJ Maxx’s [...]
Ibstock: Housebuilding is recovering, but rebuilding supply chains will take time October 17, 2024 Building supplies company Ibstock has said that it has seen early indications of a positive trend in the UK’s housing market, but a full recovery in end markets won’t happen soon. It said that it saw new-build residential activity improving, but that it “expect[s] this to take time to feed through into sustainably stronger demand [...]