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Inflation hits 2.3% in October, driven by higher energy bills and housing costs
Inflation has once again surpassed the Bank of England’s two per cent target, according to the most recent data released today. The Office for National Statistics (ONS) reports that consumer price inflation (CPI) reached 2.3 per cent in October, exceeding economists’ predictions. Experts had anticipated a CPI of 2.2 per cent, a rise from September’s …
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Informa forecasts robust year-end results, buoyed by strategic growth in India and the Middle East
Informa, the events and digital services giant, has announced that it is on track to meet its full-year guidance, with growth fuelled by its strong presence in India and the Middle East. The FTSE 100 company anticipates hitting its already upgraded full-year guidance of over £3.5bn in revenue and £975m in adjusted operating profit, with …
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GKN Aerospace owner Melrose brushes off supply chain issues as it eyes profit targets
Melrose Industries has confirmed that it is on course to meet its impending profit targets, despite the widespread supply chain issues affecting the aerospace sector. The Birmingham-based manufacturer announced this morning that it anticipates an adjusted operating profit of between £550m and £570m this year, and £700m in 2025, as reported by City AM. In …
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Cinemas in crisis: Tax changes could lead to venue closures across the UK
The UK cinema industry has issued a warning that the increased taxes on employees’ wages, as announced in the Budget, could be the last straw for some venues in this key cultural sector. Chancellor Rachel Reeves raised the amount employers have to contribute in National Insurance Contributions (NICs) by 1.2 per cent and reduced the …
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Rachel Reeves’ pension reforms labelled ‘not radical enough’ by City experts
Chancellor Rachel Reeves used the term “radical” to describe her plans for a comprehensive reform of the UK’s disjointed pension sector, which she unveiled last night. In her inaugural Mansion House speech tonight, she will reveal her strategy to consolidate the UK’s £400bn local authority pension schemes, as reported by City AM. Reeves believes these …
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Village centre set for multi-million pound transformation
A Merseyside community is poised for a major transformation with newly submitted plans for an extensive regeneration project in Huyton Village. The ambitious blueprint encompasses the construction of numerous homes, a brand-new library, a burgeoning commercial district with a hotel and fresh public spaces. Knowsley Council has laid out a 10-year masterplan aiming to revitalise …
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United Utilities forecasts 10% revenue growth by 2025 amid profit surge and rising household bills
United Utilities has announced an anticipated revenue surge of approximately 10% for the financial year ending in 2025, following a robust profit increase in its first half. The FTSE 100-listed company, which provides water services to the North West, disclosed an 11% rise in underlying revenue for the six months leading up to September’s end, …
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Just Eat Takeaway sells Grubhub for just $650m – after paying $7bn in 2021
Just Eat, the delivery platform, has confirmed the sale of its US division, Grubhub, to American takeaway startup Wonder. The news prompted a 19 per cent surge in Just Eat’s shares during early trading. The platform was sold for $650m (£500m), marking a 90 per cent discount on the $7bn it paid in 2021, or …
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Metro Bank hit with £16.7m fine for inadequate monitoring of £51bn worth of transactions
Metro Bank has been hit with a hefty £16.7m fine by the Financial Conduct Authority (FCA) for its failure to adequately monitor transactions for potential financial crime risks. The City watchdog revealed that Metro Bank had inadequately monitored over 60 million transactions, totalling a value of £51bn, for money laundering risks between June 2016 and …
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Plaid Cymru call on Welsh Government to increase business rate support
Plaid Cymru is calling on the Welsh Government to restore higher business rate reliefs in its draft budget next month to support struggling small businesses. The party said that the 75% business rate relief level should be reinstated having been reduced to 40% in May. It calculates that the reinstatement to support small business would …
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Challenger stock market Aquis Exchange agrees to £194m takeover by Swiss SIX Group
London’s alternative stock market, Aquis, has accepted a £194m takeover bid from Swiss-based exchange operator SIX Group, a move that could heighten concerns about the health of the UK’s equity markets. In a market statement today, Aquis announced that the offer would value its shares at 727p each, a 120% premium to Friday’s closing price …
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Mell Square ‘urban village’ plans latest as residents urged to share views
Solihull residents are being given a new opportunity to comment on a proposed multimillion-pound ‘urban village’ at Mell Square shopping centre. The scheme, which promises to bring new bars, shops, and restaurants, has moved forward this year after first being unveiled in 2023. Solihull Council took control of Mell Square Ltd in April 2021 for …

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