-
On September 19, 2024, the Bank of England decided to maintain its base interest rate at 5%, following a previous cut from 5.25%. Policymakers are cautious about inflation, particularly in the services sector, which remains elevated. Analysts anticipate potential rate cuts in November, contingent on upcoming economic data.
-
Hostmore, the operator of TGI Fridays in the UK, has appointed administrators amid heavy losses and debts. The company aims to sell 87 restaurants by the end of September to preserve the brand and jobs, but expects to recover less than its debts from the sale.
-
Next and Kingfisher have released their half-year results, revealing contrasting performances. Next reported a 7.1% rise in pre-tax profits, driven by strong overseas sales, while Kingfisher's profits fell slightly amid weak demand for kitchens and bathrooms. Both companies are adjusting their forecasts amid changing consumer trends.