The persistently high interest rate environment means companies are under pressure to cut costs and jobs are an obvious target. While they can cut their workforce through redundancies or slash the wage bill through shorter or fewer shifts, others might already be operating with a skeleton crew and cannot pare back any further.It is against this scenario that higher wages are adding to companies? p

Net interest income fallsCost-to-income ratio jumpsFull-year guidance maintainedThe UK?s largest mortgage lender, Lloyds Banking Group (LLOY), delivered a weak first-quarter trading update with most of the key metrics seemingly heading in the wrong direction.The lack of mention of share buybacks or guidance on the dividend also disappointed investors, however confirmation of the bank?s full-year t

In a surprising development for a company which is usually considered fairly staid, Lloyds Banking Group (LLOY) circulated an internal memo last month letting staff know it was ?saying goodbye? to a number people in its risk management team after an internal review found the function was hampering its transformation plans.The memo from the bank?s chief risk officer, seen by the Financial Times, cl

Equity prices in London found some composure heading into Wednesday afternoon, recovering from an uncertain start following an unnerving UK inflation reading.International Distribution Services jumped, after a billionaire shareholder?s takeover proposal that was rebuffed by the Royal Mail parent.The FTSE 100 index rose 46.18 points, 0.6%, at 7,866.54. The FTSE 250 climbed 107.23 points, 0.6%, at 1

Canadian General Investments (CGI) £21.70Market cap: £450 millionAn unusually wide 41% discount to NAV (net asset value) presents a compelling entry point into Toronto- and London-listed Canadian General Investments (CGI), a trust with a formidable long-run track record. The cavernous discount provides investors with broad exposure to the Canadian equity market and a winning total return strateg

Mitie (MTO) 105pMarket cap: £1.4 billionFounded in 1987, Mitie Group (MTO) is the UK?s largest facilities management company looking after two and a half million assets for more than 3,000 customers.The firm takes care of buildings from banks to retailers, schools, hospitals and critical government sites, as well as the people who work in them, helping make them safer, more efficient and greener.

Investors in automotive products maker Dowlais (DWL) were drowning their sorrows as the shares hit their lowest level since the firm spun out of conglomerate Melrose Industries (MRO) last year and listed as a stand-alone entity.The group?s underlying performance for 2023 was steady if not spectacular, helped by a banner year for UK vehicle production with output topping one million units for the f

Full year revenue up 13% to £206.4 million£450 million special dividend expectedShares up 18% over the past yearShares in Ascential (ASCL) were up nearly 3% to 307p in morning trading as the events outfit and information provider reported a 13% rise in revenue to £206.4 million for the year ending 31 December.Adjusted EBITDA (earnings before interest taxation depreciation and amortisation) was

Sales and margins increasedAuto sector growing stronglyCharge for Powder Metallurgy unitAutomotive products group Dowlais (DWL) posted a steady increase in sales and earnings last year and announced a £50 million share buyback.However, the good news was overshadowed by a large impairment charge for the powder metallurgy business which pushed the group to an operating loss of £450 million.The sha

From the minute that squirming bundle of joy is placed in parents? arms life gets complicated and expensive.How will you split paternity leave, will you both go back to work full time and is that even a possibility with childcare in the UK so expensive?With the average cost of full-time nursery for a child under two coming in at an eyewatering £14,800 a year, according to a 2023 Coram Childcare r

Year-to-date shares up 30% to £58Total revenue up 16% to £1.32 billionNew customers increased to 311,000Shares in 4imprint (FOUR) were little changed this morning as the promotional products maker reported a 36% rise in pre-tax profit to £140.7 million for the 52 weeks ending 30 December 2023.4imprint?s lacklustre share price movement was in sharp contrast to year-to-date gains of nearly 30%.Th

Stock prices in Europe ended higher on Thursday, with the most convincing gains coming from the blue-chip benchmark in Paris, which topped 8,000 points for the first time.The FTSE 100?s gains were more muted, though it did extend its winning streak to three days.Interest rate optimism helped equities on Thursday. The conviction that the European Central Bank will enact its first of the cycle in Ju

NI cut by 2% as predictedFuel and alcohol duty frozenTobacco tax increaseWith the UK having recently experienced a technical recession after two quarters of negative growth to December last year, and the spectre of a general election looming, today?s Budget decisions are ?more critical than ever? says the AccountancyAge website.?This budget is anticipated to navigate the tightrope of stimulating e

Stocks in London were on the rise at the start of the afternoon, ahead of the eagerly-anticipated UK budget announcement, though eyes are also on events in the US with Federal Reserve Chair Jerome Powell speaking later and as the race for the White House hots up.The FTSE 100 index was up 26.81 points, 0.4%, at 7,672.97. The FTSE 250 was up 148.97 points, 0.8%, at 19,420.00, and the AIM All-Share w

Revenue down 5.4% to £568.6 millionPrint circulation revenue up 2%Pre-tax profits down 10% to £92.7 millionShares in Reach (RCH) were up over 15% at one point in morning trading to 68p after annual profit came in slightly ahead of market expectations. The newspaper publisher reported a 5.4% fall in revenue to £568.6 million for the 53 weeks to 31 December 2023.The shares were also buoyed by po

Equities in London closed lower in a nervy start to the week, with a US inflation reading to come, though stocks in New York traded slightly more confidently.The FTSE 100 index closed down 21.98 points, 0.3%, at 7,684.30. The FTSE 250 ended down 57.64 points, 0.3%, at 19,126.92, and the AIM All-Share lost 1.96 points, 0.3%, at 745.81.The Cboe UK 100 ended down 0.3% at 769.56, the Cboe UK 250 fell

Stock prices in London were largely in the red around midday Monday, as the FTSE 350 fell amid the UK competition watchdog investigating a ?persistent under delivery of new homes.?The FTSE 100 index was down 24.14 points, 0.3%, at 7,682.14. The FTSE 250 was down 60.60 points, 0.3%, at 19,118.96, and the AIM All-Share was up 0.17 of a point at 747.94.The Cboe UK 100 was down 0.3% at 769.39, the Cbo

CMA CGM ups offer to 480pWincanton board backs increased bidMystery suitor emergesShares in Wincanton (WIN) accelerated 11.4% to an all-time high of 500p on Monday after agreed buyer CMA CGM upped its offer for the UK logistics company and an unnamed third party threw its hat into the ring.This has set the scene for a bidding war over the Wiltshire-based business.French shipping group CMA CGM, whi

Stock prices in London were mixed at the start of the week, as housebuilders declined after the UK competition watchdog launched a probe into suspected anti-competitive behaviour.The FTSE 100 index opened up 1.27 points at 7,707.55. The FTSE 250 was down 17.42 points, 0.1%< at 19,162.14, and the AIM All-Share was up 1.54 points, 0.2%, at 749.31.The Cboe UK 100 was flat at 772.04, the Cboe UK 250 w

2023 results mostly positiveNew £2 billion share buybackProvisions for claims could riseThe UK?s largest lender Lloyds (LLOY) delivered a mixed full-year update, with strong progress in earnings and the promise of a new share buyback overshadowed by ?remediation? costs.The shares initially sank towards the bottom of the FTSE 100 leader board with a loss of 0.8p or 1.9% to 42.5p but recovered thei