M&S’s FTSE exit is a symbol of its terminal decline September 6, 2019 Archie Norman, the Marks & Spencer chairman, put a brave face this week on the retailer’s demotion from the FTSE 100. Nothing to see here, he said: the business was exactly the same on the day after its relegation. Focusing on it was the reddest of herrings. In a sense, he is right – but [...]
Financial Conduct Authority confirms rent-to-own price cap implementation March 5, 2019 A price cap on the cost of buying household goods through rent-to-own deals will be introduced next month, the City watchdog has confirmed. The Financial Conduct Authority (FCA), which announced a crackdown on the sector in November last year, has set a price cap of 100 per cent on the interest customers can be charged in a move [...]
Swiss stocks buoyant despite Berne-Brussels bust-up July 9, 2019 For a market locked in a bitter battle with the European Union, Switzerland’s top-flight share index is looking remarkably chipper. But then, this may have something to do with the fact that since the breakdown of relations between Berne and Brussels, anyone wanting to deal in Swiss company stocks has to do so inside Switzerland’s [...]
Boris and Priti don’t quite grasp how complicated ‘ending free movement’ will be August 22, 2019 “Freedom of movement will end” if the UK leaves the EU without a deal on 31 October, according to the government. At one level, this is a statement of the obvious – in a legal sense, free movement is an EU concept. Under Theresa May’s deal, which provided for a transition period until December 2020, [...]
The new PM had better deliver on his promise to fix social care July 26, 2019 Talk about bold promises. On the steps on Downing Street, preparing to enter Number 10, the new Prime Minister pledged to “fix the crisis in social care once and for all with a clear plan we have prepared”. Similar to the National Health Service, social care is an area that MPs often struggle to address. [...]
Santander profits dive 18 per cent as UK mortgage margins squeezed July 23, 2019 Santander posted an 18 per cent plunge in second quarter profits due to one-off acquisition costs and rising pressure on mortgage margins in the UK. Read more: Santander ‘offered Andrea Orcel 52m euros’ in botched CEO plan The figures Profit before tax fell 18 per cent year on year to €1.39bn (£1.25bn) between April and [...]
Just Group completes £375m fundraising to meet new regulations March 25, 2019 Retirement services firm Just Group shares fell again this morning as it announced it had completed a £375m fundraise to comply with new capital requirement rules. The firm, which unveiled heavy 2018 pre-tax losses earlier this month, said it had issued £300m worth of bonds and raised an extra £75m via an equity placing. Read [...]
Lloyds’ away win piles pressure on Skeoch July 26, 2019 A score draw? For Standard Life Aberdeen, that’s probably an overly generous classified check after the final whistle on its £109bn fund management dispute with Lloyds Banking Group. It’s hard not to look at the result as anything other than a come-from-behind victory for Britain’s biggest high street lender instead. The £140m cash sum it [...]
Finally, the Tories have tackled the UK’s deficit February 22, 2019 Credit where it’s due, Philip Hammond has finally conquered the deficit – albeit several years after his predecessor George Osborne originally promised to have done so. While the government is still spending more money than it generates, the UK’s rate of borrowing is considerably below pre-crisis levels. In its analysis of yesterday’s borrowing figures the [...]
Marketing trends 2019: Interactive content and voice search are in, annoying chatbots are out September 28, 2019 Marketing is an industry undergoing seismic changes. New technology, changing consumer attitudes and shrinking budgets mean marketers are constantly having to adapt. But while many large advertisers have tightened the purse strings, marketing remains a key way for businesses to drive growth. A recent report by marketing consultancy Lewis, which looked at the world’s 300 [...]