Next upgrades guidance again as the company welcomes ‘new phase’ September 19, 2024 Retail industry bellweather Next has upgraded its guidance by £15m after sales and growth “exceed expectations”, while it vies for £1bn in profit. The retailer upgraded the profit guidance it issued on 1 August by £15m, to £995m, “as a result of the strength of our full price sales over the last six weeks”. This [...]
Close Brothers to sell asset management arm as motor finance bill looms September 19, 2024 Close Brothers' shares are down by around a third since the Financial Conduct Authority announced in January that it would review whether customers were overcharged via now-banned discretionary commission arrangements on car loans.
Close Brothers boss to take temporary medical leave of absence September 16, 2024 The bank said it would provide a further update "in due course". Its full year results will be announced on Thursday as planned.
Property market turns positive for first time in two years September 12, 2024 House prices significantly outperformed analyst expectations after the Bank of England cut its base interest rate, data from a closely watched survey from the Royal Institute of Chartered Surveyors (RICS) showed. The survey found that the UK house price balance, which measures the difference between the percentage of survey respondents reporting rising house prices and [...]
Meet the fund managers: Euro bond hunting with conviction September 9, 2024 In this weekly series, investment reporter Elliot Gulliver-Needham sits down with a fund manager for a Q&A. This week, we’re hearing from Neil Mehta, manager of the RBC BlueBay Investment Grade Euro Aggregate Bond Fund. How does your fund stand out from others in the same market? We embrace a truly active mindset unlike many [...]
Bank bosses set for Downing Street summit amid windfall tax fears September 8, 2024 The bank CEOs are likely to be just as nervous about the prospect of any windfall taxes which could be announced in October's Budget.
Watches of Switzerland: The worst is over for the luxury watch market September 3, 2024 Watches of Switzerland has said the worst is over for the luxury market in the UK as it reported steadying demand for high-end watches from its stores. In a trading update this morning, the retailer said it was trading in line with expectations and “on track” to meet 2025 guidance. Its shares rose by more [...]
How much could a UK bank windfall tax raise? August 29, 2024 The banking sector is considered an easy target for an energy-style windfall tax, with lenders enjoying record profits on the back of interest rate hikes from the Bank of England last year.
Close Brothers shares jump as RBC sees ‘a number of potential catalysts’ August 29, 2024 Shares in Close Brothers jumped on Thursday after RBC upgraded its recommendation on the lender's stock, which has been dragged down by its exposure to a City watchdog review into unfair car loans.
Primark owner AB Foods’ shares drop after investors advised to sell up August 27, 2024 Shares in Associated British Foods, which owns British stalwarts like Primark, Kingsmills and Twinings, dropped this morning after stockbroker Deutsche Numis downgraded its rating from ‘hold’ to ‘sell’. Shares in the FTSE 100 firm, which owns businesses in five segments including grocery, sugar, agriculture, ingredients and retail, dropped more than three per cent in early [...]