Number of workers on furlough tumbles to lowest level since start of pandemic September 9, 2021 The number of workers on furlough has tumbled to its lowest since the onset of the Covid crisis, according to official figures published today. Data from the Treasury shows there were 1.6m people on furlough at the end of July, down 340,000 from almost two million in the previous month. However, the rate at which [...]
City watchdog launches crackdown on inactive firms September 9, 2021 The City watchdog has launched new powers that will allow it to crackdown on inactive financial services firms quicker, it announced today. A sweeping set of reforms will allow the Financial Conduct Authority to cut the amount of time it needs to wait to revoke regulated firms’ permission to carry out regulated activities. The measures [...]
Lookers posts record first half profit after ‘exceptionally strong’ trading September 9, 2021 Used car dealership Lookers said that it would look to reinstate dividend payouts “as soon as possible” after an “exceptionally strong” performance in the first half of the year. The London-listed firm said it had swung back into the black after last year’s £36m first half loss, posting a record £50.3m profit. It added that [...]
Bottom-up ESG: New platform wants to give retail investor army voting power for £1 September 9, 2021 Tulipshare is targeting the next generation of shareholders by tapping into their booming interest in retail investment and demand for a corporate ESG overhaul. The new UK-based activist investment platform wants to enable individuals to “vote with their money” for change from the inside at Amazon, Coca-Cola and Apple by investing as little as £1. [...]
Lloyd’s of London reports £1.4bn profit in first half of 2021 September 9, 2021 Lloyd’s of London returned to profit in the first half of 2021, with the help of a stronger underwriting performance, the insurer announced this morning. The commercial insurance market’s results indicate its recovery after it incurred significant losses during the pandemic last year. In the same period a year ago Lloyd’s suffered a total loss [...]
Worker shortages persist as pool of candidates shrinks at record pace September 9, 2021 The number of workers ready to start a new job plummeted at its fastest pace on record last month, indicating the severe worker shortages that have put the UK economy in a vice are likely to persist, according to fresh figures published today. Research by accountancy firm KPMG and the Recruitment and Employment Confederation shows [...]
London markets dragged down by tax hikes as City mulls impact on portfolios September 8, 2021 The wave of tax hikes launched by prime minister Boris Johnson weighed on London markets today as investors mulled the implications of higher dividend taxes on their portfolios. The capital’s premier index dropped 0.75 per cent to close at 7,095.53 points, while the mid-cap FTSE 250 slid 1.03 per cent to 23,848.89 points. Markets were [...]
Bailey warns worker shortages could produce sticky inflation September 8, 2021 The governor of the Bank of England, Andrew Bailey, has signalled he is pessimistic about the current worker shortages crippling the UK economy ending soon. Giving evidence to the Treasury Committee, Bailey said the main problem in the economy is now “getting jobs filled.” Responding to questions on whether inflation will persist for longer than [...]
B&M shares soar after profit outlook upped September 8, 2021 Discount retailer B&M Bargains said it expects profits to be higher than anticipated after strong sales of seasonal goods. In a trading update on Wednesday morning, the group said gross margins had been stronger than originally predicted for the half year ending September 25 2021. The retailer now expects adjusted EBITDA to be in the [...]
Smiths Group shares jump after it gets ‘superior’ £1.75bn offer for medical unit September 8, 2021 FTSE-100 tech company Smiths Group was among the biggest gainers today after it agreed to sell its medical unit to ICU Medical for around £1.75bn. Smiths could also bank a $100m bonus from the deal, dependant on the ICU Medical’s future share price. It led Smiths to recommend shareholders back the new “superior” offer instead [...]