‘Toxic and bullying’ treatment cited as SNP MP Lisa Cameron defects to Tories October 12, 2023 The Prime Minister said he is “delighted” at her decision while the SNP called on her to “do the right thing” and allow a by-election to take place.
Wells Fargo beats expectations thanks to rising rates as Citi’s profits fall 36 per cent on dealmaking slowdown July 14, 2023 Citi struggled with rising costs and falling fees in the second quarter while its Wall Street rival Wells Fargo benefitted from higher interest rates. Citi saw its profit fall 36 per cent year on year as it was hit by the global decline in dealmaking, but its performance was still better than analysts had predicted [...]
Mike Ashley’s Sports Direct bags stake in designer brand Mulberry February 3, 2020 Sports Direct owner Mike Ashley has snapped up a stake in British luxury handbag company Mulberry, as the billionaire businessman seeks to rebrand his company as a premium retailer. Sports Direct, which has recently been rebranded as Frasers Group, has taken a 12.5 per cent stake in the designer brand. The deal signals a further [...]
FTSE 100 close: Blue chip index ends higher as disappointing retail sales figures fail to dent JD Sports, Frasers and Burberry January 20, 2023 London’s FTSE 100 index closed the week marginally higher, clawing back some some of this year’s earlier gains following a poor performance yesterday. The capital’s premier index climbed 0.3 per cent to 7,770.59 points, while the domestically-focused mid-cap FTSE 250 index rose 0.7 per cent to close at 19,702.63. JD Sports, Frasers and Burberry were [...]
FTSE 100 closes higher despite yet more recession signals November 23, 2022 London’s FTSE 100 finished higher today despite yet more data signalling the UK is on a one ticket to recession. The capital’s premier index climbed 0.17 per cent to 7,465.24 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, jumped 0.4 per cent to 19,500.5 [...]
Five things we learned from Tory conference: The return of Farage and Trumpification October 5, 2023 This week, top Tories, councillors, activists and party members gathered in Manchester for their annual get-together. With journalists also swarming the panel events, hotel receptions and late night bars, there was little that went unreported. But amid the not-so warm white wine, dodgy dance moves, and endless speeches, there were a few things that became [...]
FTSE 100: Shares rise in London despite poor performance from supermarkets June 17, 2023 London’s top shares eked out another small gain, helping the FTSE end the week on 7,643 points. The gains were led by some of the UK’s biggest energy companies, which managed to outweigh some of the pressure put on supermarkets stocks, apart from Ocado which soared. By the end of the day, the FTSE 100 [...]
A REIT mess: Home REIT execs to be grilled on takeover approach and shoddy housing at AGM February 20, 2023 Beleaguered housing investor Home REIT is set to be grilled by investors today over the state of its finances, its dilapidated property portfolio and the suitability of a recent takeover approach from a firm with links to its former investment advisor. The troubled former FTSE 250 firm is due to face shareholders at its annual [...]
Foxtons will take ‘all necessary steps’ to stay in business amid coronavirus outbreak March 20, 2020 Foxtons issued a trading update this morning advising that it will take “all necessary steps” ahead of the “inevitable material disruption to trading in the coming months.” The estate agent reassured investors that the first 11 weeks of the financial year had been in line with expectations but warned that the “significantly weakened economic outlook” [...]
Moss Bros calls on KPMG to help with restructuring plans August 30, 2020 Menswear retailer Moss Bros is heading towards a restructuring that could result in the closure of some of its stores and rent reductions on others. Moss Bros has reportedly called in KPMG, according to the Sunday Times, which could pave the way for a company voluntary arrangement (CVA). A CVA allows companies to settle debts [...]