The owner of Poundland has vowed to get the discount retailer back on track after its performance dragged on the wider Pepco Group. In the first quarter of its financial year, the final three months of 2024, Poundland’s sales totalled €563m (£474.5m), down 9.3 per cent year on year on a constant currency basis. That [...]
IG Group has acquired stock trading app Freetrade for £160m, as the FTSE 250 firm looks to target a new UK audience of traders. The trading platform, along with its 720,000 customers and £2.5bn in assets, will move to IG Group in mid-2025, subject to regulatory approval, the firm said in a stock exchange notice [...]
Taylor Wimpey has said it’s on track to meet its profit target for the year, but echoing a similar warning from rivals Persimmon and Vistry, said rising costs could be a headwind to growth in 2025. The FTSE 100 firm expects an operating profit of £416m for 2024, down from £470.2m the year prior, according [...]
Homewares retailer Dunelm has reported solid trading results which were ahead of the wider retail market for the golden quarter. Sales at the Leicester-headquartered business grew 1.6 per cent to £490m in the 13 weeks to December 28 in a “challenging market”, Dunelm said. Sales in the first half of the year were at 2.4 [...]
Rathbones has managed to turn the tide on the wave of outflows that followed its merger with Investec’s wealth arm. In a trading update published today, the wealth manager said investors pulled £200m from its platform in the final quarter of the year, down from £600m the quarter before. Despite having “particularly strong discretionary inflows”, [...]
Yougov’s chief executive Steve Hatch takes a closer look at the data behind the biggest stories in business. Here, he searches for value in Poundland. Poundland announced an increase in the number of £1 products it offers from 1,500 to 2,400 on 6 January 2025, having cut the price of basics such as milk, bread, [...]
Traitors, the Trump inauguration and broken robots in this week’s edition of City AM’s gossip column The Capitalist ROSES ARE RED, TULIP IS THROUGH At around about the same time that Tulip Siddiq was drafting her resignation statement, Labour MP Callum Anderson was hosting former London Stock Exchange colleagues for a chat in Westminster about [...]
Former Dragon’s Den investor Piers Linney has backed the UK’s recently announced ‘AI Opportunities Action Plan’, calling it a necessary step to position Britain as a global hub for the technology. The government’s plan, announced by Keir Starmer on Monday but developed under the leadership of tech entrepreneur Matt Clifford, set out a strategy to [...]
Mark Kleinman is Sky News’ City Editor and is the man who gets the Square Mile talking in his weekly City AM column. This week, he looks at D-Day for regulators, Ebury’s IPO knife-edge and Badenoch’s Reform nightmare Regulators’ D-Day is crucial for Starmer agenda It’s D-Day for Britain’s regulators. Barely three weeks after a dozen economic watchdogs were [...]
A major supplier of Nissan has invested nearly £50m to open a new factory in Sunderland, creating 183 high-skilled jobs for the local region. Jatco, a Japanese firm which makes gearboxes for global automakers, will build electrified powertrains for Nissan’s nearby gigafactory. Situated in Sunderland’s International Advanced Manufacturing Park, the 138,840 sq ft plant is [...]
The UK’s approach to technology procurement ‘lacks understanding’, resulting in costly setbacks whilst leaving its public services on outdated systems. The government has accumulated 29 years of delays across major IT projects and £3bn in cost overruns, according to a recent report by the National Audit Office (NAO). This comes as Keir Starmer recently launched [...]