Investment can boost growth – if it comes with technological progress November 6, 2024 Economic theory does regard capital investment as a contributor to economic growth, but there is another essential factor: technical progress, says Paul Ormerod The need to boost the UK’s rate of economic growth was a central theme of the first budget delivered by Rachel Reeves, the Chancellor. Reeves emphasised the importance of increasing the amount [...]
Smiths News declares special dividend after profit surge November 5, 2024 Smiths News exceeded its profit expectations during its financial year, leading the UK-based wholesaler to announce a special dividend for its shareholders. According to its full-year results, the company’s revenue for the year ending 31 August 2024, reached £1.1bn, a 1.1 per cent uptick from last year. During that time, its adjusted operating profit also [...]
Mike Ashley helps Hornby clean house after strategic review November 5, 2024 Hornby, the international models and collectables group advised by billionaire Frasers Group founder Mike Ashley, has announced the sell-off of a loss-making part of its business and the departure of its former chairman. The Kent-based listed company, in which Frasers owns a stake, has announced the LCD Enterprises is to be sold to EKD Enterprises, [...]
Natwest shares hit 13-year high after broker upgrade November 4, 2024 Natwest shares jumped to a 13-year high on Monday after a leading broker upgraded the bank’s price target. Shares in the London-listed bank, formerly known as Royal Bank of Scotland Group (RBS), jumped over three per cent on Monday to just under 390p per share. The discernible jump came after analysts at Peel Hunt upgraded [...]
Is London’s AIM set to thrive after the Budget? October 31, 2024 London’s AIM was dealt a smaller blow than expected in the Budget yesterday, with a half levy applied to its inheritance tax exemption, rather than the full 40 per cent expected by markets. The reaction was immediately positive from markets, with the FTSE AIM 100 index jumping more than four per cent in the minutes [...]
Paddington producer Canal+ confirms London IPO plans for December October 31, 2024 French media giant Canal+ has confirmed plans to list on the London Stock Exchange in what could be the capital's biggest IPO of the year.
Smith & Nephew slashes guidance as China slowdown continues October 31, 2024 Hip and knee implant maker Smith & Nephew has cut its full-year guidance as it continues to grapple with a slowdown in China. It booked third quarter revenue of $1.4bn (£1.08bn), up four per cent year on year, but Chinese sales dragged as the region experienced “worse than expected headwinds” across the surgical businesses. The [...]
Autumn Budget 2024: Reeves takes half measure on AIM tax hike October 30, 2024 Stocks on London’s junior AIM market registered their biggest single day bump in four years today as the Government revealed it would only partly abolish a key inheritance tax break for shares on the exchange. Shares on the market will retain a 50 per cent relief from inheritance tax, the Chancellor Rachel Reeves confirmed today, [...]
These two mistakes are making today’s Budget harder than it needs to be October 30, 2024 The problem with Rachel Reeves promising both ‘stability’ and ‘growth’ is that the two can be mutually exclusive. Governments do not create growth; businesses do and they rely on innovation and risk taking, says Alys Denby Not since George Osborne’s ‘caesar’ cut has a Chancellor’s hair-do caused such a sensation. Did Rachel Reeves’ newly auburn [...]
YouGov shares jump after revenue and profit growth revealed October 29, 2024 YouGov shares jumped 13 per cent on Tuesday as the data firm reported revenue and operating profit narrowly ahead of full-year expectations. In unaudited results for the year to 31 July, 2024, Yougov posted a three per cent organic revenue increase, with reported revenue up 30 per cent to £335.3m, driven by its recent CPS [...]