Traders braced for busy week as pound opens flat and European markets edge up October 21, 2019 Traders are bracing themselves for a fresh week of market mayhem amid trade war negotiations and Brexit uncertainty. Optimism over an end to the US-China tariff battle has pushed European markets up slightly after the opening bell this morning, with both the German Dax and the FTSE 100 rising 0.4 per cent. Read more: Speaker [...]
London house prices rebound with 2.3 per cent growth after election February 19, 2020 London house prices grew at their fastest rate in 15 months in December following Boris Johnson’s election win, official figures showed today, as UK house prices also rose. Homes in the capital enjoyed a 2.3 per cent rise to £484,000 after a 2019 full of falls, according to the Office for National Statistics (ONS). The [...]
Introducing the new lord mayor of London November 11, 2019 As the 692nd lord mayor of the City of London, it is an enormous privilege to represent the greatest city in the world. I was delighted to start my term with a spectacular cultural event on Saturday at the Lord Mayor’s Show, which brought together different communities from across the capital and beyond. This showcased [...]
Franco Manca expansion slices owner’s profits in half December 16, 2019 Franco Manca owner Fulham Shore today revealed that profits halved in the six months ending in September despite higher revenue as it continues to expand. The restaurant chain owner saw profit before tax sliced in half from £1.5m last year to just £743,000 in its latest half-year as it poured money into opening six new [...]
High street sales suffer wash out June July 5, 2019 High street retailers suffered a wash out month for sales in June in a further blow for the struggling sector. Brexit uncertainty continued to have a “crippling” effect on retailers three years on from the referendum, accountancy firm BDO said, as it revealed that like-for-like in store sales fell by 0.8 per cent last month. [...]
Dixons Carphone narrows losses as turnaround stings retailer December 12, 2019 Dixons Carphone narrowed losses in its latest half-year performance but a turnaround strategy took its toll on profits, the mobile phone seller revealed today. Read more: Dixons Carphone suffers investor backlash over pay The figures Dixons Carphone pared its loss before tax back to £86m, from a deep loss of £440m this time last year. [...]
Housebuilder stocks facing a Brexit wrecking ball? September 16, 2019 The construction sector seems to be freezing ahead of a potential Brexit. Are investors right to be fleeing housebuilder stocks? The housing sector has been affected throughout the Brexit process, with demand, supply, prices and overall transactions shaken up in the wake of the 2016 referendum. It has not been a straight path for the [...]
KKR acquires majority stake in broadband provider Hyperoptic in £500m deal October 14, 2019 Global investment firm KKR has acquired a majority stake in the UK’s largest residential gigabit broadband provider. KKR bought the stake from funds managed by investment firm Newlight Partners and Mubadala, the UAE sovereign wealth fund. The companies have not announced the details of the deal, but it is understood to be worth £500m. Read [...]
Morrisons sales fall in ‘unusually challenging’ Christmas period January 7, 2020 Supermarket giant Morrisons has announced a drop in sales for the Christmas period amid “unusually challenging” trading conditions and “sustained” customer uncertainty. Group like-for-like sales excluding fuel fell 1.7 per cent for the 22 weeks to 5 January. Including fuel, the drop was 2.8 per cent. Total sales excluding fuel were down 1.3 per cent, [...]
Auto Trader revs up profit despite car market challenges November 7, 2019 Auto Trader – the UK’s largest new and used cars marketplace – reported a jump in revenue and profit in the first half of the year despite the challenges facing the UK car industry. The figures Shares in Auto Trader jumped as much as five per cent after the online car dealer reported that revenue [...]