UK inflation expected to rise again in fresh blow to Labour December 16, 2024 Official data this week is expected to show inflation moved further away from the Bank of England's two per cent target in November, dealing another blow to the government after a contraction in GDP.
US inflation ticks up as market holds breath for Fed cut December 11, 2024 US inflation ticked up to 2.7 per cent in November, a rise from 2.6 per cent in October and matching analyst expectations. This was the highest level of inflation that the US has experienced since July, after dipping to as low as 2.4 per cent throughout September. Inflation has not been below its 2 per [...]
M&S and Waitrose meal deal maker Greencore rebuilds profits December 3, 2024 Food manufacturer Greencore has experienced a “stronger than expected” year of trade as the meal deal producer rebuilds profitability ahead of 2025. The Irish business, which supplies sandwiches and sushi to the likes of M&S and Waitrose, told markets this morning that like-for-like sales jumped from 29.7 per cent to 33.2 per cent in the [...]
Manufacturing activity drops to nine-month low following Budget December 2, 2024 Rob Dobson, director at S&P Global Market Intelligence, said manufacturing was struggling due to a combination of high costs, weak demand and concerns over the economic outlook.
Nando’s to open new UK restaurants as peri-peri chicken chain cuts loss November 29, 2024 Nando’s has revealed plans to open new restaurants across the UK after it cut its pre-tax loss during its latest financial year. The chain, famed for its peri-peri chicken, is to open 14 sites during its current financial year. It has already launched new restaurants in Edinburgh, Newcastle, Doncaster, Taplow, Bognor, Watford, Northampton and Belfast. In [...]
Loss widens at Shangri-La Hotel at The Shard November 28, 2024 The five-star Shangri-La Hotel at The Shard is eyeing an improvement in its financial performance in 2024 despite its pre-tax loss widening during its latest year. The hotel has reported a pre-tax loss of £7.3m for 2023, according to newly-filed accounts with Companies House. The figure compares to the £6m pre-tax loss it posted in [...]
Tesco Clubcard and Sainbury’s Nectar schemes do help consumers, regulator says November 27, 2024 A year-long probe into UK supermarkets’ pricing practices has found “very little” evidence that shoppers are being treated unfairly with loyalty programmes such as the Tesco Clubcard scheme and Sainsbury’s Nectar points. The Competition and Markets Authority (CMA) probe, which has been ongoing since November last year, investigated whether supermarket loyalty schemes cause inflation by faking the [...]
Retail sales fall on Budget uncertainty before run-up to Christmas November 22, 2024 Retail sales fell by almost one per cent last month as cash-strapped Brits held back big ticket purchases amid a cloud of Budget uncertainty. The Office for National Statistics said this morning they dropped by 0.7 per cent in October, following a 0.1 per cent rise the previous month, which had been revised down from [...]
Homeowners face massive inheritance tax hike after Budget hit November 21, 2024 London homeowners are going to be hit with an eye-watering 1,840 per cent increase in inheritance tax (IHT) liability, as a direct result of Rachel Reeves’ Budget changes, it has been calculated. A single homeowner in the capital with an averaged priced home of £525,586, with the same amount in their pension, will have a [...]
Inflation surprise scuppers hope of Christmas interest rate cut November 20, 2024 A bigger than expected rise in inflation last month has all but scuppered hopes of a cut to interest rates by the Bank of England in December. While economists had been expecting rising energy prices to push inflation beyond the Bank of England’s two per cent target last month, a sharper than expected lift in [...]