Category: <span>Markets</span>

Post

The Amazon sellers who sold up and became millionaires

Becoming a millionaire was never part of the plan. Michele Venton had left London for Bournemouth, keen to escape corporate life – and decided to try selling dresses online. “I always had this idea that I would design this range of dresses for a particular woman,” she says. She found a factory to make her...

UK house prices now 30% higher than pre-2008 crisis peak
Post

UK house prices now 30% higher than pre-2008 crisis peak

UK house prices hit a new high in June and are 30% higher than the peak they reached before the 2008 financial crisis, according to the latest snapshot of the market. The property website Zoopla said the average price of a home was £230,700 – as much as 5.4% higher than the same month a year...

‘Frenzied buyer activity’ drives UK house prices to new high
Post

‘Frenzied buyer activity’ drives UK house prices to new high

Months of “frenzied buyer activity” have driven the average asking price for a home in Britain to a new high, according to the property website Rightmove. The property portal said it expected figures from HMRC due later this week to show that June was the busiest month on record for sales, with buyers rushing to...

Consumers ‘paying the price’ for outdated competition watchdog
Post

Consumers ‘paying the price’ for outdated competition watchdog

The former chair of the Competition and Markets Authority (CMA) has said the huge online marketplace fostered by tech companies such as Amazon, Facebook and Google means the opportunity to “rip off ordinary people” is growing and that the regulator is struggling to keep up. In a new report, Andrew Tyrie, who quit as chair of the competition...

Private members’ club Soho House plans to float on NYSE
Post

Private members’ club Soho House plans to float on NYSE

Soho House is to float on the New York Stock Exchange at a potential valuation of $3bn (£2.2bn), as the private members’ club seeks to take advantage of a post-pandemic global business recovery. The company – which owns 28 Soho Houses worldwide and a clutch of other businesses including Soho Works, Soho Home, The Ned...

Electric cars: switching tariff could save £300-plus a year
Post

Electric cars: switching tariff could save £300-plus a year

You’ve taken delivery of a shiny new electric car, and the plug-in charger is being installed next week. You’re almost ready to go – just don’t forget to switch to a specialist electricity tariff. If you don’t, your bills could end up at least £300 a year higher than they need to be. Over the...

Value of UK house sales forecast to leap 46% this year as boom continues
Post

Value of UK house sales forecast to leap 46% this year as boom continues

The total value of homes sold in the UK is expected to reach £461bn this year, a jump of 46% on 2020, indicating the current housing market boom is likely to continue, according to a new prediction. The property website Zoopla said its projections indicated the property market in 2021 was on course to be...

Royal Mail posts £726m profit amid pandemic demand for parcels
Post

Royal Mail posts £726m profit amid pandemic demand for parcels

Royal Mail’s annual profits quadrupled in its latest financial year as the pandemic-fuelled online shopping boom provided a surge in demand for parcel deliveries and triggered a turnaround in the company’s fortunes. Pre-tax profit jumped to £726m in the year to 28 March, compared with a profit of £180m a year earlier. “This time last...

Compass Group profits slump as Covid keeps office canteens closed
Post

Compass Group profits slump as Covid keeps office canteens closed

Sales and profits have slumped at the catering firm Compass Group as the pandemic kept canteens closed at factories, offices and schools. Operating profit fell to £290m in the six months to the end of March, down 65% from £817m a year earlier, while revenue was down almost a third to £8.6bn. However, the figures were an...

Sainsbury’s hires Paula Nickolds to take charge of clothing and homeware
Post

Sainsbury’s hires Paula Nickolds to take charge of clothing and homeware

Sainsbury’s has hired the former boss of John Lewis Paula Nickolds to take charge of its near £8bn clothing and homewares division, in a move that underlines it ambitions to make its larger outlets feel like department stores. Sainsbury’s said Nickolds, who will join its operating board, would be responsible for the commercial success of its £7.8bn general merchandise...