Persistently high energy prices are putting serious pressure on Britain’s manufacturing sector, creating what industry leaders warn could become a lasting threat to the country’s industrial competitiveness. A new joint report by the Confederation of British Industry (CBI) and Energy UK says sky-high energy costs are not only eating into company profits but also discouraging…
LONDON: British bank NatWest Group (NWG.L) upgraded its full-year income and profit guidance on Friday after higher lending and stable deposits helped it post a stronger-than-expected third-quarter attributable profit of £1.6 billion ($2.0 billion). The bank, one of Britain’s largest, reported a return on tangible equity (RoTE) – a key measure of profitability – of…
LONDON: Shawbrook Group plc, the high-growth, high-return UK digital banking platform, announces that it is considering an initial public offering (IPO) for admission of its ordinary shares to the equity shares category of the Official List of the FCA and to trading on the Main Market of London Stock Exchange plc. Shawbrook highlights • Shawbrook…
Profit before tax reached £515 million, up from £452 million a year earlier LONDON: British fashion and homeware retailer NEXT plc reported a 13.8% rise in profit before tax for the six months ending July 2025, driven by robust international sales and expanding online operations. However, the company cautioned that economic pressures in the UK…
LONDON: Britain’s economy expanded by a stronger-than-expected 0.3% in the second quarter, preliminary data from the Office for National Statistics (ONS) showed on Thursday, as resilient services activity offset weakness in production and lingering trade uncertainty. Economists polled by Reuters had forecast a modest 0.1% rise in gross domestic product (GDP) for the April-June period,…
LONDON: Ibstock Plc, a leading UK manufacturer of building products, on Wednesday announced interim results for the six months ended June 30, 2025, highlighting strong volume growth driven by a recovering market, particularly in new-build residential construction. The company reported a revenue increase of 8.6% to £193 million, up from £178 million in the first…
LONDON: Lloyds Banking Group plc announced increased profits and a higher dividend for the first half of 2025 on Thursday, citing income growth, cost discipline, and robust asset quality. The UK-focused bank reported a statutory profit after tax of £2.5 billion for the six months ending June 30, 2025, up 4% from £2.4 billion in…
LONDON: Gateley Holdings (AIM: GTLY), a UK-based professional services firm, reported a 4.1% rise in annual revenue to £179.5 million for the year ended April 30, 2025, driven by solid performance in its legal services arm and strategic investment activity. Organic growth in legal services reached 3.9%, while underlying operating profit edged up 3.3% to…
LONDON: Arbuthnot Latham, the historic British bank founded in 1833, released its latest Treasury Market Commentary on June 13, 2025, highlighting critical developments in global and domestic economies. The report covers rising UK unemployment, wage growth, central bank rate expectations, and geopolitical trade dynamics. Below is a detailed breakdown of the findings. UK Economic Indicators Show Mixed…
The first quarter of 2024 has been marked by significant developments in the global economic landscape, influenced by financial restructuring, challenges stemming from a looming recession, geopolitical circumstances, and a notable increase in bankruptcy filings and corporate takeovers, particularly in the UK, USA, and Australia. Financial Restructuring and Bankruptcy Trends: The year began under the…
LONDON, UK: Hargreave Hale AIM VCT PLC, a venture capital trust that invests in small and medium-sized enterprises, released its interim management statement for the second quarter of the 2022/23 financial year, covering the period from 1 January 2023 to 31 March 2023. The company reported a net asset value (NAV) per share of 62.3…
LONDON: Over 860,000 passengers travelled through Heathrow in July, down 88% on the previous year. This reflects a slight uplift in passenger traffic, since the start of this crisis, driven by the Government’s creation of the first ‘travel corridors’ on July 4th. More than half of these passengers, over 480,000, ventured to European destinations to…