Exclusive: LSE signs partnership with investing platform The Growth Stage October 27, 2021 The London Stock Exchange has signed a partnership deal with investing platform The Growth Stage which will bring together private and institutional investors and high-growth, scaling firms. The Growth Stage operates behind a paywall and offers investors the chance to screen growing firms for opportunities, whilst being given clear transparent detail on when firms are [...]
Santander beats forecasts following strong UK performance October 27, 2021 Spanish bank Santander smashed profit expectations for the third quarter driven by robust lending activity in its mortgage unit. The lender pulled in more than £1.4bn in pre-tax profits in the year to September, up nearly 400 per cent. Over the same period last year, profits were just £299m. A red hot UK housing market, [...]
Budget: Sunak advised to take inspiration from Biden to avoid ‘failures of the past’ October 27, 2021 Chancellor Rishi Sunak should take inspiration from US president Joe Biden to avoid “failures of the past.” Ahead of today’s Budget, Ian Blackford said he fears “more of the same” from the Chancellor after a decade of austerity under Conservative governments. And the SNP Westminster leader insisted the UK should look towards the response of [...]
Wickes reports lacklustre sales as DIY projects fall from pandemic highs October 27, 2021 Supply store Wickes has seen like-for-like sales slide 1.6 per cent from a year ago in the third quarter to September 25, as fewer people turn their hand to home improvement projects after the end of lockdowns. The Watford-headquartered retailer said that its sales remained 16.3 per cent above 2019 levels, but it hadn’t sustained [...]
Nearly 60 per cent of firms will miss UK net zero target, says Microsoft report October 27, 2021 Just over 40 per cent of UK firms are on track to meet the government’s net zero target of 2050, new research from Microsoft and the University of London has revealed. The figures suggest that the country’s net zero efforts may be far more difficult to achieve if the majority (59 per cent) of firms [...]
UBS smashes expectations with best profits for six years October 26, 2021 Swiss investment banking giant UBS registered its best quarterly profit for six years driven by a sharp uptick in trading activity by the world’s ultra wealthy. Net profits came in at $2.3bn in the three months to the end of September, well ahead of analysts’ expectations of $1.5bn. More to follow.
Strong earnings lift sentiment and boost London markets October 26, 2021 A string of strong corporate earnings boosted investor sentiment and lifted London markets this morning. The capital’s premier FTSE 100 index climbed 0.75 per cent to 7,277.19 points, while the mid-cap FTSE 250 rose by the same amount to hit 23,113.57 points. More to follow.
Exclusive: HMRC’s capital gains tax receipts hit record £11.5bn while Budget increase looms October 26, 2021 There has been much speculation around whether Chancellor Rishi Sunak will increase capital gains tax rates during tomorrow’s budget, which could result in business owners and individuals paying significantly more when they come to sell assets. The increase looms despite HMRC receipts from CGT having risen by 62 per cent in the last five years, [...]
Reckitt Benckiser still riding hygiene wave as profits jump October 26, 2021 Hygiene giant Reckitt Benckiser is still riding the wave of the pandemic engineering a shift toward greater cleanliness. The Detol manufacturer posted over £3bn in net revenues in the three months to September, up 3.3 per cent on a like-for-like (LFL) basis compared to the same period last year. Laxman Narasimhan, chief executive of Reckitt [...]
Heathrow losses balloon despite passenger recovery October 26, 2021 An uptick in passengers was not enough to stem steep losses at Britain’s largest airport Heathrow. Pre-tax losses for the year to September remained elevated at over £1.3bn, down slightly from £1.5bn over the same period last year. John Holland-Kaye, chief executive at Heathrow, said: “We are on the cusp of a recovery which will [...]