Tesco‘s pension fund lost £9bn in value and fell into a deficit after multiple safe investments went sour. In particular, the fund is heavily exposed to so-called Liability Driven Investments. Those LDIs came unstuck in 2022 following a sharp rise in interest rates that left pension funds nursing heavy losses. …
Read More »Sunday share tips: Billington Holdings, Henry Boot
The Financial Mail on Sunday‘s Midas column touted shares of steel group Billington Holdings. The tipster highlighted the company’s move into multiple high-growth fields, ranging from movie studios to renewable energies, data centres or online warehouses. Among its green projects was the recent construction of energy-from-waste plants, including that at …
Read More »Tuesday newspaper round-up: Royal Mail, private renters, Inmarsat
Long-running talks between Royal Mail and the Communication Workers Union are on the brink of collapse, with the company’s board thought to have threatened to put the loss-making postal service – the regulated UK entity that delivers to every address in the country – into a form of administration if …
Read More »Monday newspaper round-up: Recession, Saga, National Grid
The UK’s impending recession could be twice as bad as previously thought, according to leading economic forecasters at the business consultancy EY. Reduced government support, higher taxes and an overall worsening outlook have all led the firm’s analysts to conclude that the next three years could be worse than they …
Read More »Friday newspaper round-up: UK farmers, Total, Royal Mail
UK farmers are receiving negligible profits for many items as food prices rise and supermarkets boast record takings. An average block of cheese or loaf of bread produces less than a penny for farmers, and fruit producers do not fare much better, making just 3p from each kilo of apples. …
Read More »Wednesday newspaper round-up: Manchester United, Ovo, Royal Mail, HP
The Glazer family has announced it is “commencing a process to explore strategic alternatives” for Manchester United, potentially bringing an end to its 17-year ownership of the club. On the day it was also confirmed that Cristiano Ronaldo had left Old Trafford by mutual consent, a statement from United on …
Read More »Royal Mail swings to loss on pay dispute, cuts dividend
Royal Mail owner International Distributions Systems swung to a half-year loss, blaming weak parcel volumes and strikes at the UK postal carrier, and also axed its interim dividend. Reported pre-tax losses came in at £127m, compared with a profit of £315m a year earlier. The company also said it would …
Read More »Sunday newspaper round-up: Sky-high electricity prices, Royal Mail, Olaf Scholz
Royal Mail is facing a summer of discontent as its union demands with a potential price tag of £1bn, even as it calls for shorter working weeks … Source link
Read More »London open: FTSE falls after hawkish Fed comments
London stocks fell in early trade on Wednesday as investors mulled hawkish Fed comments and eyed the latest reading on the UK construction sector. At 0905 BST, the FTSE 100 was down 0.3% at 7,594.74. Overnight, Federal Reserve governor Lael Brainard said the US central bank could start reducing its …
Read More »London open: Stocks rise on Ukraine peace talk hopes
London stocks rose in early trade on Tuesday amid hopes of progress in Russia-Ukraine peace talks. At 0910 BST, the FTSE 100 was up 0.7% at 7,526.55. Russ Mould, investment director at AJ Bell, said: “Having tripped over on Monday afternoon amid concern about China lockdowns and the conflict in …
Read More »