Business

Updated: 02:55 EDT
Advertisement
Search
Search within

BUSINESS LIVE:  Pound edges up as Labour wins landslide election victory and investors

Among the companies with reports and trading updates today are Shell and Time Out Group. As Labour scores a landslide election result, the pound rose slightly, gaining 0.2 per cent against the dollar to reach $1.277.

FTSE edges up as Britain votes and polls point to a Labour government while investors wait

London's main markets edged higher with the FTSE 100 up 0.9%, or 70.15 points, to 8241.26, while the FTSE 250 rose 0.4%, or 80.92 points, to 20,610.34. Investors shrugged off the potential change of government, which has been largely baked into share prices since the election was called six weeks ago.

Construction growth slows as housebuilders took 'wait and see' approach to election

Growth in Britain's construction sector slowed in June as housebuilding declined, according to a closely-watched survey. The S&P Global UK construction purchasing managers' index fell to 52.2 in June, from 54.7 in May. A reading of 50 or above indicates growth. The only category to record a drop in activity was housing, where output fell 'solidly' following a first increase in 19 months during May.

Edinburgh shops were 2.4% busier and Liverpool's were up 1.1% thanks to the pop star's gigs (pictured). But in London, levels fell 2.5%.

Vue chief exec Tim Richards said he was looking at 'all opportunities' for the British group - which could include an initial public offering.

John Lewis has had a troubled few years but finally returned to profit in the spring. Now, it is reviving its fashion ranges to woo Middle England.

In June, the average bill for a trolley of 65 items at Aldi was £118.41, coming in £32.60 less than at Waitrose, which was the most expensive, at £151.01, Which? said.

The UK private equity bandwagon keeps rolling. Latest to be imperilled is gaming group Keywords Studios, creator of Fortnite and League of Legends.

The figures underscore the turmoil in Europe's biggest economy under its fragile coalition government led by Olaf Scholz's Social Democratic Party.

The former Labour grandee (pictured) faced a previous allegation in 2021 which was subject to a probe by an independent QC, Aileen McColgan.

Nvidia is expected to deliver more than a million of its new graphics processing chips to the region in 2024 - despite curbs from Washington.

Chinese fashion giant Shein faces EU custom duties blow ahead of potential £50bn London

Under EU rules, overseas retailers do not pay duties on sending parcels under £127. But regulators say the volume is testing customs' limits and plan to tweak rules.Last year, 2.3bn goods below the €127 were set to the EU. Based in Singapore, Shein relies on suppliers in China to make its cut-price clothes and has faced criticism over its treatment of staff.

Kenneth Lever, currently non-executive chair at data company Cirata and senior independent director at investment trust Rockwood Strategic, succeeds William Rucker.

The video games services business has accepted a £24.50 per share offer from the Stockholm-based investment group.

In a filing late on Tuesday, the billionaire (pictured with girlfriend Lauren Sánchez), revealed he would offload another 25m shares.

Keir Starmer's party wants to increase tax on carried interest - the portion of investment returns shared by fund managers - from 28% to as much as 45%.

Cevian, whose newly disclosed holding would make it Smith & Nephew's second biggest shareholder, is known for taking stakes in businesses and calling for change.

In an update ahead of its annual general meeting today, Peel Hunt said it had seen 'some improvement in the macroeconomic backdrop' in recent months.

Like-for-like sales were 9.7% lower year-on-year in the third quarter, Topps Tiles said in a trading update.

Labour's energy guru and former leader Ed Miliband (pictured) is promising to fill a 'vacuum of leadership' over climate change on the world stage.

Shell's message for Labour needs to be heard: Now is not the time to abandon oil and gas,

Labour's energy guru Ed Miliband has been a missing factor in the election campaign. In spite of the Labour row over the retreat from an original £28bn annual spend on net zero transition, Miliband is promising to fill a 'vacuum of leadership' over climate change on the world stage. Labour's manifesto mission to 'Make Britain a Clean Energy Superpower' is all over the place.

RUTH SUNDERLAND: Labour's £1trillion challenge on pension funds

If Rachel Reeves becomes Chancellor, she would have to incentivise funds to invest for the benefit of current pension savers and generations to come. The Conservatives are ideologically averse to compelling pension funds to invest in UK assets. This free market purism defies common sense as capital drains out of this country. Given the £70billion or so a year of tax breaks for pension saving, it's not unreasonable to ask them, in return, to invest more in the UK.

Vietnam is a growth hotspot and could reward brave investors, says JEFF PRESTRIDGE

It is a beneficiary of massive inward investment as big international companies shift their manufacturing bases southwards out of China and into North Vietnam. Without breaking the bank, the Government is also heavily investing in the country's infrastructure - while greater urbanisation is creating a burgeoning middle class with money to spend.

The animal vaccine firm all set for profits boost: MIDAS SHARE TIPS

Pigs are thirsty creatures. Adult sows drink up to 50 pints of water a day in hot weather and even piglets down three or four pints daily. Farmers need to monitor these habits closely, not just to make sure herds remain hydrated but also because medicines are increasingly administered in farm animals' water. Aivlosin is one such product. 

Stay optimistic...despite Labour, says HAMISH MCRAE

Keir Starmer has committed Labour to getting economic growth back to its pre-2008 long-term trend of 2.5 per cent, but how? Rachel Reeves talked of easing up on planning in her Mais Lecture in March. That would certainly help, but beyond that there was a lot of aspiration and not much substance. This Government will need to borrow big, and I would not be too keen on lending to it.

Power Portfolio is FREE and it's the best way to monitor your real or virtual investments - with all the vital investor information in one handy place.

Advertisement
Advertisement
Advertisement
Advertisement