Ifa News Round-Up
Deliveroo sees profit growth in 2023
Meal delivery firm Deliveroo on Wednesday said it was set to lift earnings this year and announced a £50m share buyback after an improved second half of 2022.
UK's Hunt abolishes lifetime pension allowance
UK Finance Minister Jeremy Hunt said he was abolishing the lifetime pensions allowance.
UK govt u-turns to extend energy bill support scheme by 3 months
The UK government has bowed to pressure from campaigners and u-turned on plans to axe support for household energy bills as another price rise in April threatened to put some families into poverty.
Trainline sales surge as European routes open to competition
Online rail ticket seller Trainline said revenues surged 74% in its last fiscal year, driven by soaring international ticket sales as European routes opened up to competition, offsetting a UK performance hit by rail strikes.
Prudential FY profits rise as China Covid easing boosts sales
Insurer Prudential reported a better-than-expected rise in annual profit on the back of new insurance sales and said China’s relaxation of Covid restrictions had also provided a boost.
Reach to put 400 jobs at risk of redundancy
More job cuts are on the way at newspaper and magazine publisher Reach, with more than 400 roles at risk of redundancy, the company and National Union of Journalists said on Tuesday.
HSBC buys SVB UK unit after frantic overnight talks
HSBC has bought the UK arm of stricken Silicon Valley Bank for a nominal £1, the Asia-focused bank said on Monday after a night of frantic negotiations involving government ministers and Bank of England officials.
Syncona said direct exposure to SVB 'de minimis'
Life sciences investor Syncona said it had a minimal exposure to the collapsed Silicon Valley Bank.
Auction Tech 'has no material exposure' to SVB
Online marketplace operator Auction Technology Group on Monday said it had limited exposure to collapsed Silicon Valley Bank.
IP Group says it has no exposure to SVB
IP Group said it had no relationship with the failed US tech investors Silicon Valley Bank or its UK arm.
BoJ holds rates, maintains bond policy as Kuroda exits
The Bank of Japan on Friday maintained interest rates at record lows, and said it would continue with its current pace of yield curve control in the final meeting under Governor Haruhiko Kuroda, whose tenure ends in April.
Aviva in £300m share buyback, to hike prices as FY profits surge 35%
UK insurer Aviva posted a better-than-expected 35% rise in annual operating profit and announced a £300m share buyback on Thursday, driven by a rise in life and general policy sales.
Harbour Energy slams UK windfall tax as profits 'all but wiped out'
North Sea oil producer Harbour Energy said windfall taxes had “all but wiped out” its full-year profits and forced it to cut jobs and investment.
Credit Suisse delays annual results after late call from US regulator
Scandal-ridden bank Credit Suisse has postponed publication of its annual report after a last-minute intervention from the US Securities and Exchange Commission (SEC).
Hammerson narrows losses as footfall increases
Property developer Hammerson narrowed annual losses and said it was looking to cut costs further amid the tougher economic outlook.
Tullow Oil swings to profit on higher oil, gas prices
Tullow Oil gross annual profits almost doubled as the company cashed in on higher oil and gas prices sparked by the war in Ukraine.
BoE's Dhingra says rate rise would harm economy
Further rises in UK interest rates could harm an already weakened economy and hard-pressed households, a Bank of England policymaker warned on Wednesday.
Bakkavor FY profits slump amid soaring costs, inflation
Fresh food company Bakkavor warned of a tough year ahead as 2022 profits slumped by 78% due to inflation, higher costs and changing consumer habits amid the cost of living crisis.
Heathrow ordered to cut fees in win for airlines, passengers
Britain’s Heathrow Airport has been ordered to cut passenger charges after a recovery in demand after the Covid pandemic, in a win for travellers and airlines.
PwC slapped with £7.5m fine over Babcock audits
PwC has been hit with a £7. 5m fine by the UK’s accounting regulator for "serious breaches" on audits of engineer Babcock.