UK businesses jack up prices at record pace amid cost onslaught November 3, 2021 UK services businesses are hiking prices at the fastest pace in history to cope with an onslaught of swelling costs. A vortex of soaring energy, fuel and staffing costs lured services firms to jack up prices in a bid to survive an assault on their margins, according to a closely watched survey. More to follow.
FTSE 100 dragged down by Darktrace continuing to tank November 3, 2021 Darktrace shares continued to plummet during the opening session today, dragging London’s premier index down with it. The capital’s FTSE 100 index dipped 0.20 per cent to 7,260.25 points. However, the mid-cap FTSE 250 fared better, eding up 0.06 per cent to 23,154.92 points. More to follow.
UK house prices hit new highs with typical home topping £250k November 3, 2021 House prices have hit record highs, with the average property hiking more than £30k since the pandemic struck. Nationwide’s House Price Index was published against a backdrop of the Bank of England being anticipated to raise interest rates in response to rising inflation. The typical UK home has topped a quarter of a million pounds [...]
BMW beats expectations with rising third quarter profits as electric vehicle sales soar November 3, 2021 German manufacturing giant BMW has reported third quarter net quarter profits of EUR 2.58 billion, surpassing analysts’ expectations with a 42.4 per cent year on year increase during the three-month window. The outperformance in profits is powered by rocketing sales of electric vehicles and higher car prices. BMW has now reported an operating profit (EBIT) [...]
Construction firm Morgan Sindall expects better than expected full year performance November 3, 2021 Construction group Morgan Sindall has said it anticipates a full year performance above its initial expectations, despite rising inflation. The London-based group forecast an average daily net cash of around £290m for the full year, in a trading update on Wednesday. It said its average daily net cash from July 1 to October 29 was [...]
Brace for rate hikes and tapering from BoE and Fed November 3, 2021 Just as the dust settled on Chancellor Rishi Sunak’s third budget, the City turned its attention to more set piece economic announcements. Today and tomorrow, the US Federal Reserve and the Bank of England will deliver two of the most hotly awaited interest rate decisions in years. The latter is expected to hike interest rates [...]
Small UK businesses drown in swelling costs November 3, 2021 Small British businesses are drowning in swelling costs and are struggling to fulfil orders. Unit costs in the three months to October rose at the fastest pace on record, research by the Confederation for British Industry (CBI) has found. Eight in 10 small firms think costs will accelerate over the next quarter, indicating consumers may [...]
New York firm injects further £300m into London’s Quilam Capital November 2, 2021 London investment firm Quilam Capital has extended its joint venture with Wafra Capital Partners (WCP) with a £300m injection. The joint venture with New York investment house Wafra, which began in 2019, forms part of Quilam’s ambition of becoming Europe’s top investor in specialty finance. The latest investment takes the total available to deploy to [...]
The next memestock? Avis shares rocket 218 per cent in a single day November 2, 2021 Shares in car rental giant Avis are surging this afternoon after positive earnings data, leading some to compare the jump to those of memestocks Gamestop and AMC. Its stock price is currently trading up 81.5 per cent to $316, after paring some early gains. Avis shares were rallying as much as 218 per cent immediately [...]
Fridays owner Hostmore admitted to London Stock Exchange November 2, 2021 Hostmore – the new parent company of restaurant chain Fridays – has started trading on the London Stock Exchange. The group – which oversees 63rd+1st as well as Fridays – announced a demerger had been completed, separating it from Electra Private Equity. Shares were admitted to the London Stock Exchange on Tuesday morning with 126,127,279 [...]