Neil Woodford fund backs £50m fundraise by Atom Bank
Neil Woodford’s listed fund has backed a £50 million fundraise by Atom Bank to drive the start-up’s rapid growth.
finance
Recession and severe downturn expected in no-deal Brexit, think-tank says
There is a one-in-four chance the UK economy is already in recession and would face a “severe downturn” in the event of a “disorderly” no-deal Brexit, according to an influential think tank.
Plans to increase fairness for mobile customers outlined by Ofcom
Mobile firms will be banned from tying customers into “excessively long” split contracts which link together their handset and their airtime for periods of more than two years, under proposals from Ofcom.
B&Q owner Kingfisher names Carrefour stalwart as new boss
B&Q owner Kingfisher has appointed Thierry Garnier as its new chief executive to replace outgoing boss Veronique Laury.
Business investment set to contract at faster rate this year, report warns
Business investment is forecast to contract at a faster rate this year and recover more slowly in 2020 than expected in previous forecasts amid continued uncertainty over Brexit, a new report has predicted.
Just 8% of towns across Britain affordable for key workers to own home – study
The average nurse, teacher, paramedic, police officer or firefighter can only afford to own a home in 8% of towns across Britain, a report has found.
Tesco sales slow down in ‘subdued’ market
Supermarket giant Tesco has seen UK sales growth slow in its first quarter as it blamed weak consumer confidence and volatile weather.
Life member says Fairmuir Social Club trying to ‘shut him up’
A life member of the beleaguered Fairmuir Social Club has been ordered to attend a disciplinary meeting after questioning the club’s accounts.
Business confidence drops in Scotland in May
Confidence among businesses in Scotland has fallen as a number of firms said they feel Brexit is having a negative effect on their prospects, according to a new report.
Sports Direct confirms £120m sale of Shirebrook HQ
Mike Ashley’s Sports Direct has confirmed the £120 million sale of its Derbyshire headquarters in a deal with a Malaysian pension fund.
Goals Soccer Centres warns 2019 results will also be hit amid accounting blunder
Troubled five-a-side football pitch business Goals Soccer Centres has warned over results for both 2018 and 2019 as an accounting blunder continues to wreak havoc at the firm.
B&M profit and revenue rise despite ‘challenging’ year
Bargain retailer B&M posted another year of profit and revenue growth, despite issues in its German business and a weak period for homeware sales.
Cranswick exports surge after swine fever epidemic devastates Asia
British pork giant Cranswick has reported a surge in exports after African swine fever decimated pig herds in far east Asia.
Severn Trent issues warning on impact of Labour nationalisation plans
Utility giant Severn Trent has warned that Labour policies for nationalisation of the industry would impact its ability to fulfil its strategic goals.
Galliford cutting up to 350 jobs amid construction overhaul
Up to 350 jobs are being axed at builder Galliford Try amid an overhaul of its under-pressure construction business.
Nationwide sees profits tumble on writedowns and IT investment
Nationwide Building Society has seen annual profits tumble by almost a fifth after taking a £227 million hit on its technology assets and ramping up spending on IT.
Tesco Bank to halt mortgages and sell off £3.7bn portfolio
Tesco Bank is to sell off its mortgage portfolio after halting new lending, in a move which could affect more than 23,000 customers.
Edinburgh hosts international green finance summit
Finance leaders from across the world are meeting in Scotland to address monetary risk from climate change.
FTSE 100 hits two-month low amid US-China tensions
The FTSE 100 has slumped to a two-month low after China announced tariffs on the US as tensions between the two global powers continue.
Public sector pay lower than a decade ago, but ‘journey of restoration’ vowed
Public sector workers in Scotland are paid less than they were a decade ago in real terms, Finance Secretary Derek Mackay has said.