Investors ditch London shares after fifth successive Bank of England rate rise June 16, 2022 Investors ditched London-listed stocks today after the Bank of England raised interest rates for the fifth successive meeting. The capital’s premier FTSE 100 index dropped 3.14 per cent to 7,044.98 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 3.05 per cent to below [...]
RPC posts record revenues after sales surge 10 per cent year on year July 20, 2022 City of London law firm RPC today posted record revenues of £149.4m across its global operations, after the firm’s sales jumped 10 per cent on the previous year. The commercial law firm’s record results mark a 36 per cent increase in RPC’s revenues since the financial year 2020 – on the back of surging demand [...]
MPs slam ‘short-sighted and incredibly damaging’ tax-free shopping u-turn October 24, 2022 Cross-party MPs have warned that a u-turn on tax-free shopping for overseas tourists is “short-sighted and incredibly damaging” as the tourism sector hopes to recover post-Covid. In a new report, the Digital, Culture, Media and Sport (DCMS) Committee said Chancellor Jeremy Hunt’s u-turn was hindering the sector. The committee said it felt the government was [...]
Sharpening inflation concerns weigh on FTSE 100 retailers August 23, 2022 Sharpening concerns over high inflation triggering a slowdown in consumer spending weighed on London markets today. The capital’s premier FTSE 100 index dropped 0.61 per cent to 7,488.11 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.99 per cent to 19,306.89 points. Retailers [...]
Asos drive to turn “stock into cash” by buying less and flogging discounted old items June 15, 2023 Asos is buying less stock and ramping up sales of its current items in the latest efforts to boost profit, as the struggling online retailer steams ahead with its turnaround plan – posting a £20m rise in earnings. The fashion brand said it is on-track to deliver adjusted earnings before interest and taxes (EBIT) guidance [...]
Job Hunting? Three In-Demand Jobs In London This Week March 20, 2023 The London labour market is starting to cool, although we’re not quite facing the big freeze that many analysts had predicted––at least not yet. According to the latest Office for National Statistics (ONS) figures, vacancies across the UK dropped in the three months to December 2022 (the sixth consecutive fall), but remained elevated at 1.16 [...]
City Moves: Who’s switching jobs in the Square Mile? March 29, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Dominvs Group London-based real estate developer Dominvs Group has appointed the former CEO of Travis Perkins Properties (TPP) as a senior advisor. Martin Meech steps onto the board with more than four decades of property experience, spanning M&A, strategic development, finance structuring, and [...]
FTSE 100 dragged down by Persimmon tumbling after property market warning November 8, 2022 London’s FTSE 100 today was pulled down by house builder Persimmon tumbling after it warned rising rates will hit its bottom line. The capital’s premier index edged 0.08 per cent higher to 7,306.14 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0,75 per [...]
Tesco, Sainsbury’s, Aldi: Who owns Britain’s biggest supermarkets after Asda takeover? June 12, 2024 British supermarkets like Tesco, Asda, Sainsburys, and Waitrose might be household names, but who is pulling their strings?
LXi REIT’s £500m bid for Sainsbury’s stores collapses amid market volatility September 26, 2022 LXi REIT's proposed takeover of 18 Sainsbury's stores has collapsed after the group pulled out of a share issue.