Marks & Spencer blames weak consumer confidence for drop in Christmas sales January 10, 2019 Sales slumped at Marks & Spencer over the key Christmas shopping period, the retailer said today, as analysts criticised its "outdated" business model for an over-reliance on high street shoppers. The figures Like-for-like UK sales fell by 2.2 per cent year on year in the three months to the end of December to hit £2.78bn. [...]
UK car sales fall for the second year in a row as Brexit uncertainty dampens demand January 7, 2019 UK car sales have fallen for the second year running, according to figures from an industry trade body released today. Dealerships sold 2.37m new cars in 2018, 6.8 per cent fewer than it managed in 2017, and 12 per cent below 2016’s peak of 2.69m, The Society of Motor Manufacturers and Traders (SMMT) said. The [...]
Marston’s cheers rise in profits after strong easter May 15, 2019 Pub giant Marston’s posted a bump in underlying revenues and profits today, as a strong Easter showing bolstered the group’s half-year trading performance. Shares in the brewery giant, which operates more than 1,500 pubs in the UK, rose five per cent in late-morning trading. Read more: Pub operator Ei Group’s profits rise thanks to drinks [...]
UK car production slumps 20 per cent in biggest decline since 2009 recession December 21, 2018 Britain's car output tumbled by almost 20 per cent in November as Brexit worries weighed on consumer and business morale. It is the biggest decline in car production that the UK has seen since the last recession in 2009, with November's output heavily down on the same period last year. The number of cars produced in Britain [...]
UK house prices drop in March amid Brexit uncertainty after shock rise, says Halifax April 5, 2019 UK house prices grew 2.6 per cent year on year in March, but fell compared to the month before, according to data released today. The value of the average UK home hit £233,181 last month, after growing 1.6 per cent between January to March compared to the three months to the end of December. Read [...]
Last Week in the City: Stiff competition in funerals? June 1, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (28 May to 1 June 2018). Shares in listed funeral director Dignity slumped after the UK Competition and Markets Authority (CMA) said it will examine the pre-paid funeral sector, a move that could see tougher regulation. [...]
The burden of business rates falls unfairly on the West End April 4, 2019 This week, UK retailers received one of their biggest tax bills of the year. The consequences of the 2017 revaluation of business rates will again be felt, with a further hike of nearly 50 per cent for some companies. Retailers in London’s West End and Mayfair will once again be hardest hit, paying the lion’s [...]
Retail sales fall as ‘suffocating’ Brexit uncertainty envelopes UK high streets January 18, 2019 Retailers suffered a weak end to 2018 as Brexit uncertainty saw shoppers spending less in the face of Brexit uncertainty, the latest data shows today. Sales fell 0.9 per cent month on month in December as shoppers kept their purses closed, the Office for National Statistics data revealed. Read more: All the high street giants [...]
Labour’s renationalisation plan isn’t just illiterate, it’s immoral May 8, 2019 Want to buy something, but can’t quite afford it? Just use a simple trick from John McDonnell. Here’s how it works. You say: “We’ll pay a fraction of the actual price.” They say: “Sorry, you can’t do that.” You say: “Yes, we can. We’re the government.” That, in essence, is Labour’s plan to renationalise the [...]
Goldman Sachs backs digital wealth manager Nutmeg January 22, 2019 Goldman Sachs has taken a stake in digital wealth manager Nutmeg as part of a £45m funding round. The round was co-led by Goldman Sach’s Principal Strategic Investments Group, which invests in “fast-growing technology companies”. Read more: Goldman Sachs launches UK consumer bank Hong Kong financial advisory firm Convoy, which is an existing investor, also upped [...]