FTSE drifts into the red in subdued trading session
The FTSE 100 sleepwalked into the red as a lack of major economic news resulted in a muted trading day on Monday.
Business
Advice firms recommend £20.1bn to be transferred from gold-plated pensions
Firms offering pension transfer advice recommended a total of £20.1 billion be moved out of gold-plated pots between October 2018 and March 2020, according to figures from the City regulator.
Average savings rates squashed to new record lows in January 2021
Average savings rates have started 2021 by falling to new record lows, according to analysis.
Some furloughed workers ‘plan to work an extra two-and-a-half years typically’
Nearly two-fifths (38%) of people who have been furloughed at some point during the coronavirus pandemic have made changes to their retirement plans, a survey has found.
Begbies Traynor buys southern insolvency firm CVR for £21m
Manchester-headquartered Begbies Traynor has splashed out nearly £21 million on a new insolvency company, adding its first offshore offices.
Dr Martens aims for stock market listing next month
Dr Martens could be listed on the Stock Exchange in London by the start of next month and hopes to be included in a FTSE index, the business said on Monday.
Around 100,000 house sales already agreed ‘will miss stamp duty deadline’
Many home buyers could be in for tax bills they had not budgeted for – as around 100,000 house sales already agreed will miss a deadline to make stamp duty savings, according to an estimate.
Seven in 10 first-time buyers taking out longer mortgages, analysis finds
Seven in 10 first-time buyers took out mortgages beyond the traditional term of 25 years last year – compared with just under half 10 years ago – according to a report looking into housing affordability.
More than £3m spent Covid-proofing Treasury, FCA and tax offices
More than £3.1 million has been spent by the Treasury, the City watchdog and HM Revenue & Customs (HMRC) on making their offices Covid-19 secure for staff, new figures have revealed.
Stock markets see rough week after initial 2021 cheer
Shares slid for the fourth time this week on Friday as London’s top companies gave back half the gains they made in the opening week of 2021.
Wetherspoon set to announce sales plunge after lockdowns shut pubs
Pub giant JD Wetherspoon is set to announce a dramatic sales slump over the key Christmas period after being impacted by coronavirus restrictions.
Petrofac shares slip as former executive pleads guilty to bribery charges
The share price of oilfield company Petrofac collapsed by a fifth on Friday after it confirmed that one of its former senior executives has pleaded guilty to a multimillion dollar bribery.
Gym Group sales almost halve in 2020 after virus forces closures
The Gym Group has revealed that sales almost halved in 2020 after its venues were forced to shut for months during the pandemic.
Markets rise with eyes on Joe Biden’s economic plans
London’s top shares broke their three-day losing streak on Thursday as traders across the globe readied themselves for the Joe Biden era in Washington.
AA shareholders approve deal to sell breakdown service for £2.8bn
AA shareholders have approved a £2.8 billion takeover for the breakdown firm by private equity backers.
Google assures takeover of Fitbit ‘not about data’ as £1.5bn deal finalised
Google has completed a £1.5 billion takeover of fitness wearable maker Fitbit, the firm has announced.
Home building in England bounced back between July and September, figures show
The number of new home builds started across England was up by 111% between July and September compared with the previous three months, Government figures show.
Some Tesco customers’ fuel station payments taken months late
Tesco has taken some payments made at its petrol stations months after the transactions were first made, it has emerged.
Three-quarters of mothers ‘have had to plug income gaps due to maternity leave’
Just over three-quarters of mothers have had to find ways to cover income gaps due to taking maternity leave, a survey has found.
Dunelm enjoys Christmas sales boost despite store closures
Homewares retailer Dunelm has revealed a surge in sales despite stores being closed due to the company being classed as a “non-essential” business.
Card Factory warns it is likely to breach loan terms after pandemic impact
Card Factory has warned that it is set to breach its banking covenants by the end of this month after sales were battered by the coronavirus pandemic.
Santander slashing rate on flagship 123 current accounts again
Santander is slashing the interest rate on its flagship current account to a tenth of what it once was.
April shutdown cuts Taylor Wimpey’s production by 6,000 homes
The shutdown in the UK around April because of coronavirus reduced the number of new homes that Taylor Wimpey built last year by more than 6,000.
British Gas owner Centrica stops customer outflow
The owner of British Gas has put the brakes on the number of customers choosing to leave the energy supplier in the last six months.
Halfords enjoys lockdown cycle boom but motoring sales fall
Halfords continued to enjoy impressive rises in sales as the nation turned to cycling during the Covid-19 pandemic in the run up to Christmas.
Premier Inn owner Whitbread confirms 1,500 jobs axed amid sales plunge
Premier Inn owner Whitbread has confirmed it axed around 1,500 jobs as it saw sales more than halve after coronavirus restrictions forced swathes of its estate to close.
Surveyors’ expectations for near-term house sales at weakest levels since April
Property professionals’ expectations for house sales in the next few months are at their weakest since the initial coronavirus lockdown period, a report has found.
FTSE continues losing streak as oil weighs on market
Following a week of unbroken green, the FTSE 100 has remained in the red so far this week after it fell on Wednesday.
Bank needs to better communicate on ‘poorly understood’ QE, report finds
The Bank of England must build better public understanding and trust in its £895 billion quantitative easing programme amid long-standing concerns over wealth inequality, a report has found.
Concerns many are heading for poorer retirement amid pension contributions fall
The coronavirus crisis could mean many people are heading for a poorer retirement, experts have warned, as figures showed a sharp fall in pension contributions last year.