Persimmon CEO to depart after just 15 months in role February 27, 2020 Persimmon’s CEO signalled his intention to step down today just over a year after replacing the housebuilder’s former boss Jeff Fairburn, who left in 2018 amid outrage over a huge £75m bonus. Group chief executive Dave Jenkinson will depart “in due course”, he said today as Persimmon revealed a drop in 2019 profit as it [...]
Amazon shares bounce as figures leapfrogs expectations in Prime boost January 30, 2020 Amazon reported better-than-expected results for its fourth quarter tonight, sending shares up more than 13 per cent in after-hours trading and pushing it back above $1 trillion in market value. For the three months to the end of December 2019, the e-commerce giant posted a profit of $6.47 per share, or $4.2bn, jumping well ahead [...]
UK house prices grow at slowest rate for six years October 7, 2019 UK house prices grew at their slowest annual rate in six years in September, a closely-watched gauge has revealed, as Brexit uncertainty continues to smother activity in the sector. Read more: UK house prices: Brexit holds back September growth House prices grew by just 1.1 per cent over the last year, undershooting economists’ expectations of [...]
TK Maxx defies retail gloom as sales top £3bn October 25, 2019 Budget retailer TK Maxx topped £3bn in sales in the last year, shrugging off high street woes with a rise in profit. US group TJX US, which is the parent owner of the fashion group, has reported a 6.4 per cent rise in sales to £3.1bn in the 12 months to February 2019. Read more: [...]
Rishi Sunak Summer Statement: All the Chancellor’s spending pledges July 8, 2020 Chancellor Rishi Sunak today announced a raft of measures in his Summer Statement in a bid to help the UK economy recover from the worst effects of coronavirus. The Treasury boss revealed massive public spending to bolster the UK economy in what people are calling his mini-Budget. While he did not extend the government’s furlough [...]
Saga to sell care operations under Elliott break-up threat December 8, 2019 Travel and insurance company Saga today put its care business up for sale, under pressure from activist US hedge fund Elliott Advisers. The FTSE 250 firm is working with accountants Grant Thornton on the sale of live-in care brands Patricia White’s and Country Cousins, which brought in £4m in revenue last year and have 1,500 [...]
Rolls-Royce falls to £852m loss as engine trouble persists February 28, 2020 FTSE 100-listed Rolls-Royce today reported a loss of £852m after problems with its Trent 1000 engine overshadowed record engine deliveries at the firm. The figures Operating profit rose 25 per cent to £808m, ahead of £616m last year, driven largely by an improvement in the engine maker’s civil aerospace division. Revenue increased seven per cent [...]
On a roll: Greggs upgrades profit forecast again as sales increase November 11, 2019 Greggs has upgraded its profit expectations for the year after the bakery chain reported boosted sales for its latest period. Total sales were up 12.4 per cent in the six weeks to 9 November while like-for-like sales in company-managed shops increased 8.3 per cent. Read more: Greggs is cooking up vegan versions of popular products [...]
Accuracy of Companies House data questioned by reporting firm September 8, 2019 An organisation that produces reports into the health and credit-worthiness of small firms has cautioned that there is no guarantee that the Companies House data it uses is accurate. Read more: Goals up for sale in wake of £12m fraud accusations Company Watch, a City-based provider of company assessments, has added a disclaimer to its [...]
Surveyors forecast fall in house prices as house buyers decline October 11, 2018 A renewed decline in the number of house buyers is piling further pressure on London’s strained property market, according to a closely followed survey out today. The Royal Institution of Chartered Surveyors (Rics) has said there was “caution” from buyers last month, as Bank of England governor Mark Carney reportedly warned prices could drop 35 [...]