Category: <span>Investment</span>

Economic downturn likely, the Institute of Directors warns
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Economic downturn likely, the Institute of Directors warns

Company directors fear the cost of living crisis and tumbling consumer confidence will cause greater harm than previously estimated, increasing the risk of an economic downturn this year, according to a major new study. The Institute of Directors (IoD) said in a survey last month that a lack of confidence in the economic outlook was “the number one issue”...

Taylor Wimpey drops costly leasehold terms after investigation
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Taylor Wimpey drops costly leasehold terms after investigation

Thousands of people who bought leasehold homes from the housebuilder Taylor Wimpey will be liberated from terms where their ground rent charges doubled every 10 years, after a long-running investigation by the UK competition watchdog. The Competition and Markets Authority (CMA) has been looking into the contractual cost increases imposed by Taylor Wimpey and other property developers, which have...

John Lewis removes ‘Lollita’ child’s party dress from sale after criticism
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John Lewis removes ‘Lollita’ child’s party dress from sale after criticism

John Lewis has pulled a child’s party dress named “Lollita” from its shelves after receiving criticism for stocking it. The Chi Chi London “Lollita” dress was on sale for children aged three to 11 years old on the retailer’s website for £50. The name is similar to Vladimir Nabokov’s 1955 novel Lolita, which details child sexual...

Amigo Loans warns it will go bust unless it resumes lending
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Amigo Loans warns it will go bust unless it resumes lending

The troubled sub-prime lender Amigo has said it will go bust unless it is allowed to resume lending and raise new equity under a proposed new rescue plan. Amigo said that in the six months to the end of September it had set aside £344m for customers who complained they were mis-sold loans at interest...

Rapid delivery service Getir to buy UK rival Weezy
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Rapid delivery service Getir to buy UK rival Weezy

The on-demand groceries business Getir is acquiring its rival Weezy, in the first sign of consolidation in the UK’s fast-growing rapid delivery market, in which companies aim to bring goods to customers in as little as 10 minutes. Getir, founded in Turkey in 2015, operates in more than 50 cities in its home market, and has...

Shell’s plan to move HQ to London gets Dutch backlash
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Shell’s plan to move HQ to London gets Dutch backlash

The oil giant Shell has sparked a political tussle over the location of its headquarters after announcing it would relocate to London and lose “Royal Dutch” from its name amid a corporate overhaul that has angered the Netherlands. In a move seized by the UK government as a post-Brexit vote of confidence in the City of London,...

Bitcoin price surges to record high of more than $68,000
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Bitcoin price surges to record high of more than $68,000

The bitcoin price has reached a new record high, breaking through $68,000 (£50,000), and analysts predict that the world’s best-known cryptocurrency will rise further in the coming weeks. This beats the previous record high set in late October, when bitcoin reached nearly $67,700 before falling back again when investors discovered a new cryptocurrency, shiba inu....

Barclays has financed $5.6bn in new fossil fuel projects since January
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Barclays has financed $5.6bn in new fossil fuel projects since January

Barclays has financed more in fossil fuel projects than any of the UK’s largest banks in the months leading up to the Cop26 climate talks in Glasgow, according to a report by climate finance campaigners. The bank financed $5.6bn (£4.1bn) for new fossil fuel projects from January 2021 to the eve of the UN climate summit, Market...

HSBC profits rise 74% as economy rebounds from Covid crisis
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HSBC profits rise 74% as economy rebounds from Covid crisis

HSBC’s profits rose 74% in the third quarter as improving economic conditions allowed the bank to release hundreds of millions of pounds originally set aside for a potential jump in loan defaults during the pandemic. The London-headquartered bank said pretax profits rose to $5.4bn (£3.9bn) in the three months to 30 September, up from $3.1bn a...

Asos chief Nick Beighton resigns as it warns over supply chain pressures
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Asos chief Nick Beighton resigns as it warns over supply chain pressures

Nick Beighton, the chief executive of Asos, is to step down with immediate effect as the online fashion retailer warned supply chain problems and rising costs would affect its profits. Asos said Beighton and the board had agreed it was “the right time” for him to go. It said after the departure of Beighton, who has...