According to a recent data analysis, Britain has lost out on international visitors who spend a lot of money after the government removed tax-free shopping as a result of its exit from the EU. The UK has seen a dramatic drop in non-EU expenditure since the scheme was scrapped in 2021 following Brexit. This makes […]

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Manchester United’s profit forecast has been cut after the club’s early exit from Europe’s premier football competition. This highlights the challenges facing billionaire Sir Jim Ratcliffe in his attempt to turn around the club’s fortunes. Ratcliffe has agreed to purchase up to 29 percent of Manchester United at a price of approximately $1.6 billion on […]

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Google DeepMind used artificial intelligence (AI) to almost match the geometry problem solving skills of some of the brightest mathematicians in the world. This is a major step forward in the quest to apply this fast-growing technology for complex mathematics. According to a Wednesday Nature article, AlphaGeometry is the system of the tech giant that […]

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Investors lowered their expectations for a rapid interest rate cut in the eurozone and the UK, and also the US. The global sell-off occurred after European Central Bankpresident Christine Lagarde indicated that borrowing rates would fall in the summer and not spring. The sell-off also came after the first increase in UK inflation for 10 […]

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Analysts have estimated that banks could be liable for a compensation bill of £10 billion due to unfair car financing deals. The Financial Conduct Authority announced last week that it will investigate whether people who take out loans before the end of January 2021 are unfairly being charged higher interest rates as a result of […]

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Elon Musk wants more control over Tesla, as it pushes the company into advanced technologies beyond car manufacturing. In a tweet on his platform Twitter/X he wrote, “I’m uncomfortable growing Tesla into a leader in AI and robotics without 25 percent voting control. It’s enough to have influence, but not too much so that I […]

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Heathrow Airport, Britain’s international gateway, is facing further turmoil as investors who own 35 per cent of it have announced that they will be selling. Ferrovial, the largest shareholder in the airport, sold its 25% stake to the company. Ferrovial announced at the end of 2012 that it was selling its stake for £2.37billion. This […]

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Experts claim that the City regulator’s £230m compensation deal for Woodford Investors is “likely” to set a “dangerous precedent” for UK finance by removing the “cornerstone protection” of investors. Five academics with expertise in financial regulation wrote to the High Court Judge who will decide whether or not to approve the scheme. They warned that […]

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After an unexpected increase in inflation, the FTSE 100 dropped by up to 2 percent. This dashed any hopes for an early interest rate cut. After official data revealed that consumer price growth in December had risen to 4% from 3.9 % the month before, the sell-off of London’s premier share index reversed a year-long […]

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Apple’s software update last year lowered the volume on Audioboom, and the podcast platform revealed yesterday the impact of this change. The London-listed company announced in a trading update that it had generated revenue of $19.2 millions for the last quarter of 2023. This was up 37% on the previous period and 5% year-on-year. It […]

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Superdrug’s Christmas sales were boosted by the trend of people switching from expensive brands to own-label alternatives to reduce their rising living costs. The health and beauty retailer’s sales grew 9.2 percent in December. Like-for-like, they grew 7.1%. The company’s own-brand products saw a 10 percent increase in sales year-over-year, claiming that consumers were switching […]

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Mike Ashley may make a bid to buy the Meadowhall Shopping Centre in Sheffield. This would be his biggest wager on retail real estate so far. Frasers Group is the FTSE 100 retailer group owned by Ashley. It’s “one of a few parties” that have expressed an interest in Meadowhall. Meadowhall, owned by British Land […]

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According to research, the Scotch Whisky industry contributed more than £7 billion in one year to the UK’s economy and supported 66,000 jobs. The Scotch Whisky Association trade body said that 41,000 direct and indirectly jobs were located in Scotland. The association’s last economic impact report published in 2018 showed that the gross value added […]

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According to estimates by a leading energy think-tank, installing carbon capture and storage at Britain’s biggest power station could eventually cost bill payers an extra £1 billion per year. Drax said it will spend billions on the conversion of two of its four power stations in Selby, North Yorkshire to Beccs or bioenergy with CO2 […]

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Rightmove is one of the stocks that have suffered as a result of bearish brokers squeezing in. Investors reacted negatively to JP Morgan’s concern about the profitability of the group if they need to defend their dominance on the market. In October, CoStar, an American property company , swooped down on OnTheMarket, a smaller competitor. […]

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Ocado’s boss said that customers returning to online grocery shopping following a post pandemic decline, helped the retail division of Ocado return to profitability. It also enjoyed a record-breaking Christmas. Hannah Gibson, CEO of Ocado Retail (a joint venture between Ocado Group, Marks & Spencer) said that the shopping behavior had returned to normal since […]

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A senior International Monetary Fund official warned that “exuberant” investor optimism could undermine hopes for a soft landing of the global economy. Gita Gopiath, the deputy managing director, said to delegates attending the World Economic Forum, that traders are making “premature bets” on the huge rate cuts expected from major central banks around the world […]

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GSK sold a Haleon stake worth approximately £1 billion on Tuesday evening as part of its plans to divest itself from the FTSE 100 consumer health care company. The British pharmaceuticals group Haleon has sold another 300 million shares, or about 3.2% of the company. Bank of America, Citigroup, and other financial institutions handled the […]

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Discover the incredible journey of Flat Iron Steak Restaurants, from a London pop-up to nationwide success. Explore their impressive growth, financial milestones, and ambitious expansion plans.

The post The Rise of Flat Iron: A Steakhouse Chain’s Journey to Success appeared first on Stockmark.IT.

Discover why Ashmore Group's strong returns coexist with client withdrawals and how emerging markets continue to present opportunities for investors.

The post Ashmore Reports Strong Returns but Fails to Stem Withdrawals appeared first on Stockmark.IT.

Learn about potential delays in Boeing deliveries to China as safety inspections are intensified after an alarming incident. Explore the implications for the aviation industry and the hope for improved relations.

The post Boeing Deliveries to China May Face Delays for Safety Inspections appeared first on Stockmark.IT.

Discover how a shrinking jobs market is impacting the recruitment industry, as PageGroup issues a profit warning. Explore the broader economic context and implications for job seekers and businesses.

The post The Impact of a Shrinking Jobs Market on Recruitment Companies appeared first on Stockmark.IT.

Scottish Power's £5.4 billion investment in green energy cables marks a vital step towards a net-zero future. Learn about the plan's key components and its significance for the UK's energy grid.

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Qatar has stopped shipments of LNG through the Red Sea, a move which could force Britain into relying on its emergency fuel stocks. As Houthi rebels attacked vessels near the Bab El Mandeb strait, the Gulf nation, Britain’s third largest gas supplier, “paused” LNG shipments through the strait. QatarEnergy is the state-owned giant that may […]

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Crest Nicholson is one of Britain’s biggest housebuilders. It has now issued its third profit warning due to rising costs. This has sparked speculation that the company could be a target for takeover if its fortunes do not improve. In less than a fortnight, the Surrey-based firm will release its full-year financial results. The results […]

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As part of a restructuring, the UK’s largest nightclub company plans to bring in administrators. This could lead to venues closing permanently. Rekom UK owns Atik, Pryzm and other brands. The company said that the sector had experienced an “extremely challenging” year, due to the cost of living crisis, and the rise in energy and […]

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According to an initial estimate published on Monday, German output declined by 0.3 percent last year due to high inflation, rising rates of interest and increased energy costs. This made Germany’s largest economy, Europe, one of the worst performers in the entire world. The German economy will decline in 2023, adding to a dismal start […]

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According to a survey conducted by the World Economic Forum in Davos (Switzerland), a quarter of chief executives worldwide expect that the deployment of generative AI will lead to headcount cuts of at least 5% this year. According to a survey of PwC’s top directors, industries such as media and entertainment, finance, insurance, and logistics […]

The post CEOs predict that the use of artificial intelligence in this year’s workforce will result in job losses. appeared first on Stockmark.IT.

Amundi, Europe’s biggest asset manager, has joined 26 investors in demanding Shell improves its environmental targets during its annual meeting. This is the largest shareholder push for climate policy that the oil and gas company faces. The resolution, coordinated by the activist group Follow This called upon Shell aligning its “medium term” greenhouse gas emission […]

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After suffering a second consecutive annual loss, the Bank of London, which is a newly formed clearing bank with Lord Mandelson as its chairman, raised £25m in investment funds. After winning a banking license, the company was launched in 2021. In November, it raised new equity to meet regulatory requirements. The Financial Conduct Authority and […]

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BT and Elon Musk’s Starlink are in discussions over a satellite-based broadband service. This could help combat the problem of rural black spots. The Telecoms giant is currently testing Starlink technology in its Adastral Park Research Centre near Ipswich, as it looks for ways to provide connections to difficult-to-reach places. Mr Musk’s company operates a […]

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It has been revealed that Britain’s vast gas network still relies on a fleet aging aircraft engines. Some of these engines were removed from RAF Lightning fighter planes built in the 1960s. Jon Butterworth is the chief executive at National Gas. He said that many of the engines used to drive the gas through the […]

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Some of the world’s top economists warned this weekend that a prolonged conflict in Red Sea and the escalating tensions throughout the Middle East could have devastating effects on global economic growth, rekindling inflation and disrupting the energy supply. World Bank economists warn that the current crisis could lead to higher interest rates, slower growth, […]

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According to a tax specialist, the Post Office may be insolvent after claiming tax benefits for compensation payments made to post office operators. Dan Neidle is the director of the non-profit Tax Policy Associates. He said that the Post Office claimed £934m in tax reliefs for its compensation payment and suggested that it may be […]

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The Metropolitan Police said that police presence in City of London will be increased on Monday, after six pro Palestinian activists were arrested. They are suspected of plotting to disrupt the opening of London Stock Exchange. The Met stated that the six activists “intented to target the London Stock Exchange in the early morning hours […]

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Like many married couples, Ugur Sahin and Ozlem Tureci work best as a double-act. Just as the duo were explaining how the German pharmaceutical company they founded, BioNTech, won the race to develop the Covid vaccine, Sahin leapt to his feet. “Let me show you,” the chief executive said, striding over to a whiteboard hanging […]

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Burberry’s holiday advertising campaign featured images of dogs, ducks and a luxury blue leather handbag. It was placed next to an old knight’s glove. Daniel Lee, Burberry’s new creative director, had high hopes for the knight bag when it arrived in stores in September. He hoped it would be the first iconic bag of the […]

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At least three tech companies are looking to float on the London stock exchange. All three companies, including the computer designer Raspberry Pi and Quantum, a tech and cybersecurity company, as well as ClickASnap – a platform based in Dorset that helps amateurs make money – are working to list shares on London Stock Exchange. […]

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According to the International Energy Agency, the growth of renewable energy capacity in 2023 was the fastest in the past 20 years. This could help the world reach a major climate goal by the end the decade. According to the IEA, renewable energy capacity in the world increased by 50% in the past year, reaching […]

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According to the official standards body of the industry, in 2023 heat pump installations will reach record levels, as well as rooftop solar panel installations. Last year, almost 190 000 rooftop solar systems were installed, which is the highest number since the government cut its subsidy program in late 2011. According to data, the number […]

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What is the name of an Italian restaurant which does not serve pizza? The jokes at the Edinburgh Fringe Festival in 2022 were based on the restaurant Gusto’s. The Italian restaurant did not serve pizza because there was no one to handle the pala (the long-handled tray that is used to transport the dough into […]

The post Why Home Office’s visa plans are a ‘nail on the coffin’ to UK hospitality appeared first on Stockmark.IT.

Pressure is mounting on the government to review more than £2bn in new contracts awarded to Fujitsu since a court ruling in 2019 found its Horizon IT system caused accounting errors that were blamed on 900 post offices . Since the landmark ruling, the Japanese company has won 101 contracts totaling £2,04bn. According to government […]

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After the failure of Silicon Valley Bank UK’s UK branch in March, British banks were spared the cost of prefunding an insurance scheme for multi-billion pound deposits. In a Consultation document released on Thursday, the UK Treasury detailed “modest reforms” to strengthen the regime to protect smaller banks from failure and improve resilience in banking. […]

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Chesapeake Energy agreed to purchase Southwestern Energy for $7.4bn in an all-share transaction. This will make the company the largest US natural gas producer. With an enterprise value of approximately $24bn the combined company will be the largest US gas supplier upstream. It will also feed the surge in demand for LNG exports along the […]

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Last year, Russia purchased at least one third of its critical battlefield components abroad from US-based companies and their allies. This was largely due to the fact that production facilities were outsourced to states with weaker export controls. According to an analysis conducted by , the Kyiv school of Economics, these goods — totaling $7.3bn […]

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The first US exchange-traded funds that have direct exposure to Bitcoin, the largest cryptocurrency in the world, made their long-awaited debuts on stock exchanges. On Thursday morning, nine new ETFs and 2 conversions from another products began trading across the New York Stock Exchange (NYSE), Nasdaq and Cboe Exchanges in hopes of attracting an influx […]

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After a decade-long slow improvement, the life expectancy of Britons has returned to the level it was in 2010. This is due to the Covid-19 pandemic. The Office for National Statistics announced on Thursday that the UK birth expectancy between 2020 and 2022 is 78.6 for men, and 82.6 for women. This represents a decrease […]

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Dyson lost its battle to get compensation of €176mn from Brussels for damages that it claimed were caused by energy label tests that penalised their vacuum cleaners. The British engineering company sought redress with the European Commission in 2018, after won five-year court battle to overturn regulations governing how vacuum cleaners are judged and marketed […]

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Amazon has cut hundreds of jobs from Prime Video, James Bond Studio MGM and Prime Video as it battles tough competition on the streaming market. In a memo sent to employees on Wednesday, the company announced that it would be eliminating “several hundreds of roles” after a review its TV and film output. Mike Hopkins, […]

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Donald Trump’s Scottish Golf Course Turnberry made its first profit ever after nearly a decade under turbulent ownership by the ex-US President. According to newly filed accounts, Trump Turnberry in Ayrshire, a resort of 800 acres with three golf courses, a hotel and other amenities, earned £571,000 profit in 2022. The company’s profit is up […]

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This week, the American oil lobby launched a media campaign with a budget of eight figures to promote the idea that fossil-fuels are “vital”, for global energy security. Climate experts were alarmed by this. The website of the new initiative states that “US natural oil and gas play a critical role in providing the world […]

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Persimmon exceeded expectations for new home construction last year. Falling mortgage rates helped boost property sales by the end of the calendar year. However, the company warned that the housing market will be “highly insecure” in 2024. It was announced on Wednesday that the FTSE 250 homebuilder had sold more than 9,500 new homes by […]

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According to the top executive of the project, there is no guarantee that the cost will not increase further. Sir Jon Thompson, the chair of HS2 told MPs that the official estimate of what is left of the controversial project was between £49bn to £56.6bn, but in 2019 prices. He said that adjusting for inflation […]

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Sainsbury’s may have enjoyed a roaring Christmas, but its clothing and general merchandise divisions had a disappointing festive performance. The second largest supermarket chain in Britain increased its sales 7.4% in the 16-week period ending January 6, compared to the same time in 2013. This was due to a 9.3% increase in its grocery division, […]

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The boss of the bakery chain, Greggs, said that Britain was still a long way from reaching the “peak” of its sales. Investors formed a line for the shares of this high-street fast-food chain known for its steak bakes and sausage rolls. It posted a 9.4% increase in sales on a like-for-like basis in the […]

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Pennon, listed owner of South West Water, has bailed out a privatised supplier of some of England’s wealthiest addresses. Sutton and East Surrey Water, one of the nation’s most financially distressed water providers, was placed on a “at-risk”, regulatory watchlist. In recent months it has been forced by its Japanese owners to ask for cash […]

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US Securities regulator approved the first exchange traded funds that track bitcoin last night, a momentous event for the crypto industry and the world’s biggest cryptocurrency. The Securities and Exchange Commission has approved applications from BlackRock Investments, Ark Investments 21Shares Fidelity Invesco and VanEck among others. Some products will begin trading today. Standard Chartered analysts […]

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BlackRock warned that the prospect of pre-election tax reductions and spending promises could lead to a return of “bond vigilantes”, and an increase in bond sales. The asset manager said that the investor appetite for debt in developed economies remains at record highs, even before this year’s widely predicted interest rate reductions. Vivek Paul is […]

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Investors become more nervous as the share price of a company drops and sales drop Tim Cook didn’t hold back. In a 2018 email to finance executives, he ordered his lieutenants that they should improve the sales of Apple’s new iPhones. Apple’s China business was in decline, leading to its first profit warning since 16 […]

The post Apple’s biggest crisis since the iPod saved it appeared first on Stockmark.IT.

Paul Smith’s fashion company has warned about the impact of inflation after recording a fourth consecutive loss. The 77-year-old designer’s firm said that sales in its global business increased by 7.7pc, to £212.5m, compared to a year ago. It has recovered to pre-pandemic level. It posted a loss before tax of £2.3m, but warned that […]

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Investors may be unnerved by expensive election promises, which could increase debt costs. Rishi Sunak is embarking on a debt spree ahead of general elections , which will see Britain borrow £206bn in a record amount this year. Nomura economists have predicted that the Government is likely to be forced to heavily rely on the […]

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Shell will be forced to cut up to $4.5billion off the value several assets in Singapore, primarily its refining and chemical facilities. The London-listed oil giant is expected to take the impairment charge for its final three months last year in the next set of quarterly financial accounts. A weaker economy and a decline in […]

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B&M European Value Retail will pay a special dividend of 20p after another successful Christmas period. Owner of B&M Foods and Heron Foods, said revenues grew 5 percent year-on-year to £1.65billion in the 13-week period ending December 23. This brings year-to date growth to £4.19billion on a constant-currency basis. Alex Russo said, “The performance of […]

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Jupiter Fund Management is under pressure after a star fund manager, responsible for £10billion of client assets, defected to start his own company. Jupiter shares plunged up to 20 percent after the company announced Ben Whitmore’s departure. The firm also warned that last year’s outflows were worse than expected. Whitmore is the manager of Jupiter’s […]

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EDF Energy, the French state-owned company, announced Tuesday that four of Britain’s declining fleet of nuclear plants will remain in operation for at least two more years. The operator said its goal was to stop seven years of falling output. Three of the eight old power stations in the UK have closed since the beginning […]

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In its latest projections, the World Bank warns that global growth is set to be at its lowest level in 30 years as geopolitical tensions and higher borrowing costs weigh on output. In Forecasts, published by the multilateral organization on Tuesday. The organisation stated that the gross domestic product of the global economy is expected […]

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Investors have shied away from funds that claim to be sustainable and/or socially responsible, having become more aware of the claims made by asset managers. Morningstar Direct data shows that only six funds, citing environmental and social factors, launched in 2023’s second half, compared to 55 in 2023’s first half. The average annual number of […]

The post Investors pullback on ESG fund launches as launch numbers plummet appeared first on Stockmark.IT.

Barclays, Santander and HSBC have all announced reductions in their mortgage rates. This is a further step towards lower UK home loan rates following the HSBC and Halifax rate cuts last week. Santander announced a deal with rates below 4% for new and existing customers who have a minimum deposit of 40% on a fixed-rate […]

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After an Alaska Airlines flight made an emergency landing Friday, shares of Boeing and its parts supplier Spirit AeroSystems have dropped amid renewed concerns about the safety of Boeing’s 737 Max aircraft. was found in the backyard of Portland, Oregon on Sunday. The plug door – a panel installed to replace an emergency exit in […]

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Fitness First blames working at home as the reason for its inability to attract people to inner-city gyms. After lockdowns “decimated” its membership, the chain reported that recovery had taken “longer than expected”. Fitness First collected £33.2m last year in membership fees, according to newly filed accounts, compared with £50.8m for 2019. Membership fees vary […]

The post Fitness First struggles to attract new members as home-working hits central London’s gyms appeared first on Stockmark.IT.

The British manufacturers are confident that they will be able to expand the industrial sector of the country and turn the tide on history. Make UK, the industry association, has released a snapshot survey that shows manufacturing could be responsible for 15% of Britain’s Gross Domestic Product, despite rising costs. In Britain, the manufacturing sector […]

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Today workers will start knocking down West Burton A, a coal-fired power station on the Nottinghamshire-Lincolnshire border that gave its final sparks of electricity to the grid last March. West Burton, a coal-fired power plant in West Burton, was once considered the future. The Shah of Iran was impressed by the new energy technology when […]

The post Nuclear fusion is about to enter a new era appeared first on Stockmark.IT.

The income tax revenue has risen by 70 percent since 2010, to £264 billion. This shows the dramatic increase in tax burden that successive Conservative governments have overseen since they came to power. HM Revenue & Customs figures revealed that Rishi and Jeremy Hunt increased income tax receipts while not actually raising headline rates. Sunak, […]

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The American entertainment company that had been backing a 21,500 capacity Sphere venue in East London has dropped the project, claiming it became a “political ball” between the London mayor and the London government. Sphere Entertainment withdrew its application to build the “glowing Orb” near Stratford’s Olympic Park, claiming that the planning process had become […]

The post Furious American group abandons new Sphere venue in London appeared first on Stockmark.IT.

Blackstone Group raised $1.3bn to create a private equity investment fund for wealthy individuals. This is a sign of renewed momentum in the company’s efforts to expand beyond institutions like pension funds. Blackstone Private Equity Strategies Fund (BXPE) raised the largest amount of money ever by a retail vehicle. Blackstone had to limit withdrawals of […]

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Investors warn governments worldwide about “unmoored’ levels of public debt. They say excessive borrowing promises made before elections could spark a bond market reaction. The US and UK are expected to issue the most government debt in history in the next year. This is with the exception that the Covid pandemic was still in its […]

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Weight-loss injections could be the answer to record unemployment British workers are more sick than ever before. In 2022, nearly three out of every 100 hours worked were missed due to illness. This is the highest percentage since 2004. The number of people who were forced to leave work due to long-term illness has now […]

The post Ozempic and Wegovy, the wonder drugs that could fix Britain’s sick note economy appeared first on Stockmark.IT.

In a year when American, Indian and British citizens will go to the polls, elections in Taiwan, the democratic island off the coast of China, may not attract too much attention. But when voters in Taiwan choose their new president next Saturday, it could help determine the future of a critical cog in the modern […]

The post China targets Taiwan’s chip industry as a’sacred resource’ in pivotal elections appeared first on Stockmark.IT.

Muddy Waters’ Carson Block believes London Stock Exchange is the world’s “cleanest” stock exchange One of America’s most fearful short sellers said that the London Stock Exchange must avoid a “race towards the bottom” against New York. Carson Block, chief executive of Muddy Waters research, has urged policymakers to avoid loosening the rules in London […]

The post Carson Block, Muddy Waters, warns that London should not be a ‘race to bottom’ appeared first on Stockmark.IT.

The creator of ChatGPT warned that , a ban on the use of news and books for training chatbots, would doom artificial intelligence development. OpenAI told colleagues that it would “be impossible” for it to create services like ChatGPT, if it was prevented from using copyrighted materials. It is trying to influence possible laws regarding […]

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On Sunday, UK Prime Minister Rishi sunak and Labour Leader Sir Keir starmer squared off for a “fight”, as they set the battle lines for the general election to be held this year. Sunak said that the Conservatives will cut taxes on “work”, which would be paid for by shrinking state size relative to economic […]

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Carta, the $7.4 billion software company that helps start-ups track their investors’ investments, is attempting to trade its customer’s shares without consent. This complaint threatens to undermine confidence in this widely used platform. Karri Saarinen is the co-founder and CEO of software startup Linear. He claimed that Carta approached his investors without their consent on […]

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After 27 years of delays, setbacks, and scandals, the world’s largest mining project – a $20bn iron, rail, and port development in an isolated corner of West Africa – is expected to begin this year. In 1997, Rio Tinto, listed in the UK, obtained the first exploration license in the Simandou Mountains in south-eastern Guinea. […]

The post After 27 years of failures and scandals, the world’s largest mining project will finally begin. appeared first on Stockmark.IT.

Regis Schultz began his Thursday with a bike ride through Manchester, wearing his new Nike Tech Fleece. The JD Sports chief executive purchased the jacket for £120 in November to protect him against the windy north. The mild-mannered Frenchman’s shirt would become the centerpiece of the chilling trading report he delivered to the City from […]

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The UK’s largest train operator, despite a strike-ridden service and rising fares, has given a record dividend to its three overseas shareholders. Govia Thameslink paid its Australian, Spanish, and French owners – including Keolis (an arm of the French SNCF state-owned company) – a £62million payout, part-funded by a British government bailout for the railways […]

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Farmers have warned that if environmental standards are tightened for British farmers, but food imported from countries with lower standards is imported, eco-friendly foods will become an expensive luxury. Steve Barclay announced, at the Oxford Farming Conference, on Thursday that the government will consult on a labeling scheme that will identify food produced according to […]

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Next increased its profit expectations for the year, after selling £38m in excess of what was expected in the lead-up to Christmas. However, the company warned that problems in the Red Sea may delay deliveries and affect sales in the coming year. Fashion and homeware retailer said that full-priced sales had increased dramatically in the […]

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UN warns that a prolonged period of low economic growth will hinder progress in sustainable development. It urges countries to increase investment to combat the climate crisis. The annual report on the state of global economics presents a somber outlook for growth, as countries struggle with higher borrowing costs and geopolitical tensions. The World Economic […]

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JD Sports has lost more than £1.8bn in value after issuing a profit warning. The fashion retailer cited the mild weather conditions and heavy discounts as the reasons for the decline. The shares of the retail group, Go Outdoors, Blacks, Millets and Size, have fallen by 23%. Shares in the retail group, which owns Go […]

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Mortgage costs will rise by £19bn as millions of fixed-rate mortgages expire. Borrowers are also forced to renegotiate home loans following the most severe round of interest rate hikes in decades. Goldman Sachs economists say that despite the recent price wars between lenders, many UK homeowners will still see a significant increase in their repayments […]

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Tui, Europe’s largest tour operator has dealt another blow to London’s shrinking equity markets after recommending that its UK listing be cancelled next month. Anglo-German Travel Group, which has reported revenues of €20.7bn by 2023 and is listed both in London and Frankfurt at a valuation €3.5bn, announced on Thursday that, following investor pressure, they […]

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The Dutch flower-growing sector has asked for the planned introduction of new border checks post-Brexit to be deferred until 2025. They cited “significant concerns” regarding the industry’s readiness for these changes. From the end of January onwards, the UK government will introduce new requirements regarding paperwork for EU businesses sending animal and plants products to […]

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In response to budgetary pressures, housing associations in England cut their spending plans on new affordable homes for 2024. This could worsen the acute shortage of social houses in the UK. According to Centrus, an adviser who works with housing associations, plans drawn up last summer cut investment by 9 percent, or £1.5bn. Funding for […]

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Citigroup will launch an investment banking division in China to further its involvement in China’s financial markets, even though rivals are becoming more cautious in the country. A person familiar with the matter said that the large US bank plans to launch its wholly-owned China-based unit before the end of this year. Citi would be […]

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Next, the popular UK retailer, is set to achieve its raised profit guidance despite wider economic concerns within the retail sector, according to analysts at Shore Cap. In a research note, the bank highlighted Next's positive outlook on the UK consumer environment, which it described as "more benign" but with significant uncertainties.

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Ryanair says it has seen a decline in the number tickets it is able to sell since major online booking sites removed the budget airline’s flights. In early December, the largest online travel agents, including Booking.com and Kiwi, “suddenly removed Ryanair flights from their websites”. According to the airline, while bookings on these sites only […]

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HSBC is the latest major UK lender to cut mortgage rates across the board. Leading names have announced reductions up to 1 percentage point. Banks announced new mortgage deals on Wednesday, including a five-year fixed rate of 3.94% for those borrowing up 60% of their property’s value. HSBC will offer a two-year fixed rate of […]

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According to the Royal Mint, investors flocked in record numbers to gold in 2023 due to global economic turmoil that triggered a flight for safety. The number of people purchasing gold bars and coins has increased by 7pc in the last year, exceeding the peak of the lockdown investment boom of 2020. The British coin […]

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BYD’s growing popularity has renewed concerns about China’s auto dominance Berkeley Street in Mayfair is a haven for car enthusiasts. It’s lined with showrooms that display Ferraris, Bentleys, and McLarens through giant windows. A lesser-known brand is located half way down the street, opposite the Rolls Royce store. The Chinese automaker BYD has opened a […]

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Eurostar was reprimanded by regulators for “misleading’ adverts, after they found that only a small percentage of tickets were sold at the promised £39. , the train company, urged customers to “treat themselves to a European getaway starting at just £39 per way” in advertisements sent by email. The Advertising Standards Authority (ASA), however, said […]

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