California
clear sky
21 ° C
26 °
16.5 °
66 %
6.2kmh
0 %
Thu
21 °
Fri
17 °
Sat
20 °
Sun
16 °
Mon
17 °
California
clear sky
21 ° C
26 °
16.5 °
66 %
6.2kmh
0 %
Thu
21 °
Fri
17 °
Sat
20 °
Sun
16 °
Mon
17 °
Thursday, April 18, 2024

We Scoured The Internet...

We may receive a portion of sales if you purchase a product...

Best Chili Cheese Dog...

* This post is sponsored by Rio Luna Organic Peppers. The information and...

25 Fruits that Start...

Are you trying to find out the list of fruits that start...

I Tried a New...

I’m always up to try something new. There’s so much beauty in...
HomeUKFTSE 100 Live:...

FTSE 100 Live: Amazon to shut UK warehouses, petrol prices fall below £1.50



1673357188

London drivers miss out as average UK petrol prices fall under £1.50 milestone

Average UK petrol prices are back under £1.50 a litre for the first time since Russia’s invasion of Ukraine, adding to hopes that inflation may have peaked and offering hard-pressed consumers some relief.

But the picture for London drivers may be less rosy. The AA, which tracks at-the-pump prcies,  points out that there are big variations in price on forecourts in heavily populated or busier areas, including the capital.

Read more here

1673356880

Coinbase lays off almost 1,000 staff as crypto winter bites

Crypto exchange Coinbase is set to lay off almost 1,000 employees as the New York-listed firm seeks to slash costs in a restructuring.

It’s the latest in a string of successive job cuts at the firm after it let go of around 20% of its workforce last year amid a downturn in the crypto market.

The firm had 4,706 full-time staff in the Autumn of last year, company filings show, including a number in Europe. A spokesperson could not confirm how many UK employees were set to be laid off. The restructuring is expected to cost in the region of $149 million to $163 million, including up to $95 million in compensation awards to staff facing the sack.

read more here

1673354652

ScS completes acquisition of Snug

Furniture maker ScS has acquired the brand, domain names, website, intellectual property and stock of Snugsofa.com (“Snug”) from the administrators of Snug Shack Limited for consideration of £875,000.

Steve Carson, Chief Executive Officer of ScS, said: “Snug is an exciting and young business with great potential. It has a strong and recognisable brand, a differentiated product and targets a market that complements our proposition.

“In that regard, it presents us with an exciting opportunity to further increase market share.

1673354512

FTSE 100 down 18 points: lunchtime update

Five hours into the day’s trading session in London, the FTSE 100 index is down 18 points to 7,706.

Here’s a look at some of the morning’s biggest movers.

1673349127

Fizzing sales at Majestic add to trend for strong Christmas trading on the High Street

Hopes deepened today that the demise of Covid restrictions outweighed the cost of living crisis on the high street in the run-up to Christmas, as wine retailer Majestic reported its busiest ever trading day on December 23.

The 200-strong chain noted buoyant sales of English sparkling wine, Cava and Champagne while the winter World Cup boosted beer sales.

Overall, it was the “second biggest Christmas trading period” in the company’s 42-year history.

Read more here

1673348389

Britishvolt valuation plunges 96% in blow to UK EV ambitions

The UK’s ambitions to become a key player in the global market for electric vehicles suffered a blow today after the valuation of battery start-up Britishvolt fell over 90%.

A rescue deal has valued beleaguered EV battery maker Britishvolt at just £32 million, according to reports in the Financial Times, down from the £774 million it was valued at in a funding round in February last year.

Shareholders have until Friday to approve the new deal, the FT reported.

read more here

1673346520

Recruitment sector shares fall, Hornby down 19%

Confidence in the recruitment sector has been dealt a blow after one of its leading players warned that profits will be short of hopes amid a softening of activity levels.

Robert Walters, which specialises in placing professionals in finance and technology roles, saw its shares tumble 6% after revealing net fee growth of 8% in the fourth quarter compared with 18% in the previous three months.

The read-across for investors elsewhere in the sector meant shares in PageGroup and Hays fell 6% and 5% respectively in the FTSE 250, reversing the recovery seen in recent weeks as hopes build that major economies can still achieve a soft landing.

Chief executive Robert Walters told investors that his company continued to see growth across all global regions and forms of recruitment. And despite being short of City hopes, full-year profits will still be a record.

However, he added: “The global macroeconomic backdrop became increasingly uncertain as the quarter progressed resulting in a softening of recruitment activity levels across many of the group’s markets.”

The update echoed the cautious mood elsewhere as the FTSE 100 index experienced its first downbeat session of the year by falling 20.94 points to 7704.

The FTSE 250 index lost 61.19 points to 19,418.20, with broadcaster ITV and Royal Mail business International Distributions Service down 4.7p to 76.8p and 10p to 224.1p respectively.

One of the market’s strongest performances came from former FTSE 250 stock AO World after the online electricals retailer reported early progress on its turnaround strategy.

Revenues were in line with expectations, but a focus on cost reduction and margin improvement is paying off as earnings for the year to March will be higher than forecast at between £30 million and £40 million. Shares rallied 6% or 3.9p to 73.5p, compared with 52p in November.

Hornby shares, meanwhile, hit reverse gear after the Corgi and Airfix hobbies firm said a sales growth rate of 6% was below budget. Despite the company’s excitement over product releases for this year, the AIM-listed stock tumbled 19% or 5.5p to 23.5p.

1673345884

Amazon to shut three UK warehouses amid cost-cutting drive

Amazon is planning to shut three UK warehouses in a decision which is set to affect 1,200 jobs, the PA news agency reports.

An Amazon said the firm has launched consultations over the closure of three UK warehouses in Hemel Hempstead, Doncaster and Gourock, in the west of Scotland.

Workers are set to be offered roles at other locations, PA reports.

Last week, Amazon said it would increase job cuts to 18,000 as it seeks to slash costs amid worsening global economic conditions.

The Seattle-based e-commerce giant, which has seen its share price fall almost 50% over the past year, said the layoffs would largely impact the firm’s physical stores and human resources wings of the company.

read more here

1673341084

FTSE 100 in negative territory, Games Workshop down 5%

The FTSE 100 index has risen in every session so far in 2023 but London’s top flight stood 14.94 points lower at 7710 this morning after a weak handover from US markets.

Grocery warehouse business Ocado posted the biggest fall after losing 2% or 13.4p to 729.8p and Scottish Mortgage Investment Trust weakened 11.8p to 739.8p during a weak session for growth stocks.

The FTSE 250 index declined 44.36 points to 19,435.03, with Games Workshop among the leading fallers after interim results showed a 5% decline in profits. Having been on a strong run in recent weeks, the shares lost 5% or 485p to 8640p.

PageGroup shares fell 6% and rival Hays lost 4% as investors digested today’s fourth quarter update from Robert Walters revealing a softening of recruitment activity and full-year profits slightly below City forecasts. Its shares fell 8% or 44p to 496p.

1673345192

Fridays diners CEO to go as revenue falls from pre-pandemic levels

The Fridays casual dining chain is serving up a new chief executive after a drop in revenue from pre-pandemic levels at the chain, famed for its cocktails and entertaining waiting staff.

Hotsmore, the chain’s parent, said that Robert B. Cook is stepping down “with immediate effect” from the restaurants previously known as TGI Fridays. He will be replaced on an interim basis by Julie McEwan, the current chief operating officer.

The change came as Hotsmore reported a 14% drop in ilke-for-like revenue for the 26 weeks ended 1 January 2023 compared with 2019, before Covid struck the 91-restautant company, which includes outlets in Leicester Square and the O2 Arena.

Get notified whenever we post something new!

webiitech

Want to grow your business???

Mark your presence on Internet with WEB-II-TECH

Continue reading

We Scoured The Internet And Found The 10 Coziest Reading Chairs

We may receive a portion of sales if you purchase a product through a link in this article. One of life’s simplest pleasures has to be curling up with a good book. Getting into your coziest loungewear, brewing a...

Best Chili Cheese Dog Egg Rolls Recipe

* This post is sponsored by Rio Luna Organic Peppers. The information and content presented here is all ours.   If you’re looking for a unique and absolutely delicious appetizer for your next tailgating or Big Game Day party, these Chili...

25 Fruits that Start with S: List with Nutritional Values

Are you trying to find out the list of fruits that start with S? It could be for any reason, for a school project or you are a fruit enthusiast & want to explore new fruits. You have...

Enjoy exclusive access to all of our content

Get an online subscription and you can unlock any article you come across.

%d bloggers like this: