California
clear sky
13.9 ° C
15.4 °
12.8 °
61 %
6.2kmh
0 %
Wed
21 °
Thu
15 °
Fri
16 °
Sat
14 °
Sun
13 °
California
clear sky
13.9 ° C
15.4 °
12.8 °
61 %
6.2kmh
0 %
Wed
21 °
Thu
15 °
Fri
16 °
Sat
14 °
Sun
13 °
Wednesday, April 24, 2024

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FTSE 100 Live: GDP beats expectations, blue-chip shares near record



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Taylor Wimpey warns of ‘significantly lower’ sales, announces cuts to save £20 million a year

Taylor Wimpey has become the latest housebuilder to warn on the impact in the mortgage market which followed the “mini”-Budget last year, although it has stood by its annual profit guidance.

The FTSE 100 company pointed to “ongoing market uncertainty” and said that “sales remain significantly below levels seen prior to the rise in mortgage rates in Q3 2022.” It means the company expects sell fewer new in the year ahead, with “overall volumes expected to decline in 2023.

It has started consultations on what it called “proposed changes” to save around £20 million in costs a year, cuts it expects to cost around £8 million.

The number of new homes it completed fell to 14,154 from 14,302 and its average private UK selling price rose 6% to £325,000.

But it stood by its exiting profit guidance for the full-year, of £921 million when it reports its full results in early March.

Jennie Daly, CEO, said: “We have acted quickly and decisively to address changing market conditions and continue our efforts to maximise efficiency .. Despite near term uncertainty we remain confident that the medium to long term fundamentals of our business remain highly attractive.”

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ITV sounds upbeat note about new streaming service

ITV sounded an upbeat note about its new streaming service ITVX this morning, a month after its launch.

The broadcast business said it delivered a 55% increase in ITV’s streaming hours in the first month after its launch (8 December 2022 – 7 January 2023) compared to the same period last year, while ITV’s online users increased by 65%. That increase drops down to 29% when you exclude people viewing World Cup fixtures.

Carolyn McCall, ITV CEO, said: “It is great to see so many new viewers coming into ITVX. Viewers have welcomed our strong slate of commissioned launch titles exclusive to ITVX, with many viewers coming from harder to reach audiences. 

“ITVX has also landed really well with advertisers who see the increased value of the scale and reach of the audience they can now target in a high quality, brand safe and measurable streaming environment.”

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