Despite efforts to fortify Russia against sanctions, Putin is widely thought to have been caught off guard by the scale of the western response that has left about half of Russia’s $640 billion (£486 billion) war fund unusable. With basic financial processes, such as transferring money, now severely restricted, Russia is also facing a growing …
On full-year results, chief executive Lord Simon Wolfson said that strong online sales, the reopening of its stores and pent-up demand had helped pre-tax profits soar from £342.4m to £823.1m over the 12 months to the end of January. That’s 10 percent higher than before the pandemic. Additionally, Next has full-year sales of £4.6 billion, …
Carsten Brzeski, Chief Economist for ING Germany, said the war in Ukraine meant the outlook for Germany’s economy had “changed dramatically”, adding “The risk of another contraction in the first quarter of this year and hence a technical recession is high.” Writing in a research note he explained: “The risk is high that the economic …
According to data analytics firm GfK, a “wall of concern” has faced consumers this month, with consumer confidence falling for the fourth straight month. British people today have every reason to be worried. As all eyes turned to the Chancellor this week for new measures to combat rising cost of living, inflation was revealed to …
In evidence from the Business, Energy and Industry Strategy Committee (BEIS) investigation into the energy market, regulators revealed that suppliers who took customers from bankrupt companies would be able to claim their costs back. Ofgem expects them to earn between £2.2-£2.4bn under its last resort supply regime. This scheme allows providers to get that money …
Failed energy companies add £2.4 billion to household bills | City & Business | Finance Read More »
During his Spring Statement Mr Sunak announced a number of changes to the tax system including a VAT cut, energy efficiency home improvements, cutting fuel duties and a long-term plan to cut income tax by one percent. For many businesses though the steps haven’t gone far enough, with National Insurance hikes still underway in April …
News Spring Statement: Sunak scrambles for investment | City & Business | Finance Read More »
AJ Bell Investments Director Russ Mold said: “It seems inevitable that the months ahead may be more challenging given rising inflationary pressures, and much higher household bills. “Recent sales trends have seen consumers beautify their appearance perhaps because more people are being called back to work in the office. “This dynamic could last a little …