Back on track? Toymaker Hornby’s sales in line with expectations as shares rise February 7, 2017 Shares in Hornby steamed ahead by as much as 24 per cent in early trading as it said that full year revenues are on track to be in line with expectations. In a trading update, Hornby said: “As previously announced, revenue is expected to decline by around 20-25 per cent this financial year due to [...]
Tesco announces it is cutting 800 UK jobs January 22, 2018 Tesco is cutting 800 jobs within the business in a bid to simplify its operations. The UK’s biggest supermarket is removing all people managers and compliance managers from its large stores and fulfilment centres, and is removing its customer experience managers. Read more: Tesco “outperforms market” with Christmas sales rise As a result of the [...]
The FTSE 100 closed at a record high topping 7,600 December 21, 2017 There was plenty of Christmas cheer in the City today as Britain’s blue-chip index rose to an all-time high. The FTSE 100 rose above 7,600 points for the first time, closing up 1.1 per cent at 7,603.98. “The FTSE 100 has rallied strongly today moving above its previous record peak set back in June to [...]
Bitcoin price (BTC) tumbles after South Korea crackdown on cryptocurrency December 28, 2017 Bitcoin has tumbled after South Korea announced new rules for trading. The cryptocurrency tumbled under $14,000 in the latest move lower in a volatile period of trading, and was at $13,695 at pixel time according to Coindesk bitcoin price index (BPI). The South Korean government said it will ban anonymous accounts for trading cryptocurrencies and [...]
A Christmas sales boost will help Greggs beat expectations in its full-year results January 17, 2017 Pasty maker Greggs announced a strong finish to the year and said its final results will be slightly ahead of previous expectations in a trading update today. The figures Total sales were up seven per cent for the year ended 31 December, while company-managed shop like-for-like sales were up 4.2 per cent. Greggs' share price was up 3.8 per [...]
Premier Foods plays down Batchelors’ sale speculation January 15, 2018 Shares in Premier Foods are up two per cent this morning after the company played down speculation that it has had initial discussions with one of its shareholders about selling its Batchelors’ brand. The company confirmed in a statement this morning that it periodically had discussions with third parties including Japanese noodle company Nissin, which [...]
First-time housing market booming in the UK despite fall in purchases over the Christmas period January 29, 2016 THE NUMBER of first-time home buyers in the UK fell in December due to the traditional Christmas period slowdown, but showed healthy growth over the year, new data has shown today. First-time buyer numbers fell by 1,300 or 4.7 per cent month-on-month due to the “traditional winter cooling” period, according to the first-time buyer tracker [...]
Retailers sound alarm bells after one of toughest Christmas periods on record January 13, 2016 UK retailers have suffered one of their worst Christmas trading periods on record, according to new research showing a surge in the number of companies struggling to make ends meet. Turnaround specialist Begbies Traynor said 26,013 UK retailers entered the year in significant financial distress – nearly double the amount recorded in the fourth quarter [...]
Bank of England says Brexit trade deal including the City is possible but warns of tensions with EU over investment banks January 16, 2018 A post-Brexit free-trade deal with the EU which includes financial services could be completed in three years, according to the Bank of England’s chief banking regulator, countering the view of the EU’s chief Brexit negotiator, Michel Barnier. Sam Woods, the Bank’s deputy governor in charge of the Prudential Regulation Authority, said it is “plausible” that [...]
“There will be pain”: Bank of England’s Mark Carney warns against no deal Brexit November 28, 2017 Bank of England governor Mark Carney today warned of “pain” for the British economy in the case of a hard Brexit, with no transition or longer-term trade deal secured between the UK and the EU on trade. Speaking at the Bank’s stress tests of the financial system, Carney said UK banks would be able to [...]