NatWest has purchased £1 billion of its own shares from the UK Treasury, lowering the government’s stake in the FTSE 100 lender to just over 11%. This buyback, the second of its kind in 2024, saw NatWest acquire 263 million shares at a price of 380.8p each, a step CEO Paul Thwaite describes as an […]
Lloyds Banking Group faces mounting pressure from MPs, business groups, and a staff union to release the full, unredacted findings of the Dame Linda Dobbs review, a report examining Lloyds’ handling of a £1 billion fraud at HBOS, which the bank acquired in 2009. The delay has drawn criticism, with figures like Lord Tyrie, former […]
The Entertainer, one of the UK’s largest toy retailers, has abandoned plans to open two new stores following the government’s decision to raise employer National Insurance (NI) contributions. Chief Executive Andrew Murphy explained that the increased costs have also led to a hiring freeze at the company’s head office. The decision underscores mounting business concerns […]
Sainsbury’s, the UK’s second-largest supermarket chain, has reported a 5% rise in food sales for the first half of the year, reflecting growing market share and increased demand for its premium range, Taste the Difference. This growth has positioned Sainsbury’s as a top performer in the British grocery market, with a market share reaching 15.2%, […]
The Bank of England has cut interest rates by 25 basis points to 4.75%, marking its second reduction this year as inflationary pressures begin to ease and economic data signals a cooling in wage growth. The nine-member Monetary Policy Committee (MPC) voted in favour of the reduction, following a steady trend in economic forecasts that […]
Kaye Adams, presenter of ITV’s Loose Women, has won a protracted ten-year dispute with HM Revenue & Customs (HMRC) over her employment status. After multiple court victories, HMRC announced it would not appeal against Adams’s latest win, concluding a case that has highlighted significant criticisms of the tax authority’s approach to IR35 regulations. The dispute […]
Marks & Spencer has cautioned that it cannot rule out raising prices after absorbing an additional £120 million in costs resulting from Chancellor Rachel Reeves’s national insurance (NI) changes and forthcoming wage increases. Chief executive Stuart Machin stated that the retailer would “do everything we can” to avoid passing these costs onto customers but acknowledged […]
Chancellor Rachel Reeves has downplayed fears of escalating protectionism under Donald Trump’s anticipated new trade tariffs, reaffirming Britain’s commitment to a robust economic relationship with the United States. In her first comments following Mr Trump’s re-election, Reeves emphasized the UK’s intent to uphold “free and open trade” between the two countries. Amid speculation over Trump’s […]
The UK’s used car market continues to grow, as more cash-conscious consumers opt for second-hand vehicles over new ones, according to the Society of Motor Manufacturers and Traders (SMMT). Transactions in the used car market rose by 4.3% year-on-year from July to September, with 1.96 million sales recorded. Notably, sales of electric vehicles (EVs) surged […]
Article content Prime Minister Justin Trudeau and his cabinet ministers tried to calm fears that U.S. President-Elect Donald Trump will wreak havoc on trade and potentially devastate Canada’s export-driven economy. Trudeau said he looks forward “to working with President Trump once again to strengthen North American economic opportunities for middle class.” “We’ve been preparing for […]