uk-economy
FinanceBritain’s Ao World Raises Annual Profit Outlook After First-Half Rise
FinanceUK’s Topps Tiles Profit Nearly Halves on Weak Home Repair and Maintenance Demand
Top StoriesUK Outlines First Steps in New Plan to Get More People Back Into Work
FinanceUK Shop Prices Fall Less Sharply in November, Survey Shows
UK’s Reeves Vows No Repeat of Budget Tax Rises After Employers’ Warning
Date: November 25, 2024
By Alistair Smout and David Milliken LONDON (Reuters) -British finance minister Rachel Reeves on Monday said she would never have to repeat the tax hikes of her first budget, an attempt to reassure businesses that were caught off-guard by a 25 billion-pound ($31 billion) tax rise. The Confederation of British Industry said a survey of...
UK Employers Warn Tax Rise Will Hit Investment and Pay
Date: November 25, 2024
By David Milliken LONDON (Reuters) –British employers have been caught off guard by a 25 billion-pound ($31 billion) tax rise at last month’s budget and plan to cut training, investment and jobs in response, a leading employers group said on Monday. The Confederation of British Industry said a survey of its members showed 61% viewed...
FTSE 100 at 3-week Highs as Miners Offset Slump in Kingfisher
Date: November 25, 2024
(Reuters) – The UK’s FTSE 100 traded at a three-week high on Monday as a weaker dollar aided metal prices, outweighing a plunge in shares of Kingfisher after the home improvement retailer issued a profit warning. Kingfisher shares tumbled 13.5%, the biggest decliner among the FTSE 100 components, after it warned of a 45 million...
Sterling Firms After 3-day Slide Against Sagging Dollar
Date: November 25, 2024
By Medha Singh (Reuters) – Sterling was on track to snap a three-day losing streak on Monday, as the dollar’s slide after the selection of fund manager Scott Bessent as U.S. Treasury Secretary lent support to most major currency pairs. The pound firmed 0.4% to $1.2579 after slumping to a six-month low of $1.2475 on...
Kingfisher Warns of 45 Million Pound Hit From UK and France Budgets
Date: November 25, 2024
By James Davey LONDON (Reuters) -European home improvement retailer Kingfisher on Monday warned of a 45 million pound ($57 million) hit to 2025/26 profit from tax raising measures in government budgets in both the UK and France, sending its shares sharply lower. The group, which owns B&Q and Screwfix in the UK and Castorama and...
UK’s Rising Inflation May Subdue Spending This Christmas, Says Asda/CEBR
Date: November 25, 2024
LONDON (Reuters) – British households’ disposable income fell in October and rising inflation may subdue spending this Christmas, supermarket group Asda said on Monday. Publishing its monthly Income Tracker survey, produced with the Centre for Economics and Business Research, Asda said after paying all taxes and essential bills the average UK household saw its disposable...