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M&S profits more than double despite cost pressures


By Goran Nastic

Marks & Spencer more than doubled its adjusted pre-tax profits in the first half "despite the onslaught of cost headwinds", as the retailer continued its recovery from last year's cyber attack


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Why the most effective default pension investments are built to evolve

For most employees, pension saving happens in the background. Contributions are paid in each month, but few people make an active investment choice.


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UK venture capital funding rises 77% despite fewer deals

The UK venture capital market attracted significantly more investment during the first nine months of 2026, despite investors completing slightly fewer deals, new figures have revealed

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Barratt Redrow share price jumps despite completions reduction

Shares in Barratt Redrow increased by over 2% in early trading after the housebuilder announced that its total completions fell by 12% year-on-year to 3,223 in the 17 weeks to 25 October

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Trainline reiterates guidance in HY update

Trainline has maintained its guidance for the full-year, as its group net ticket sales remained broadly flat year-on-year at £3.3bn

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Govt triggers media plurality probe into Sky-ITV deal

The government has launched a public interest investigation into Sky’s proposed acquisition of ITV’s media and entertainment business, citing concerns over media plurality, freedom of expression and the future provision of UK broadcasting services

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VMO2 targets £800m savings as it scales back fibre investment

Virgin Media O2 is launching a major restructuring programme targeting £800m in annual cost savings by 2029, alongside plans to halt further investment in its fibre upgrade programme and make greater use of AI.

The telecoms operator expects to deliver £400m of annualised savings in 2027, rising to £600m in 2028

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ABF struggles in ‘challenging operating environment’

Associated British Foods (ABF) has reported that it has traded in a "challenging operating environment" and against macroeconomic headwinds in the year to 12 September, as its profit before tax dropped 14% year-on-year to just over £1.45bn

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Drax and Brookfield in partnership for AI data centre development

Drax has agreed a partnership with Brookfield and its AI infrastructure platform Radiant to develop a potential gigawatt-scale data centre at Drax Power Station in North Yorkshire, in a project that could attract more than £20bn of investment

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Ibstock lowers earnings expectations as market conditions hit

Shares in Ibstock have fallen by over 11% after the clay bricks and concrete products manufacturer stated that its second-half performance is to be "materially below" its previous expectations

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Supermarket Income REIT announces £50m equity raise

Supermarket Income REIT has unveiled plans for a £50m proposed equity issue to fund a transaction pipeline for "six earnings enhancing transactions"

Businesses face automatic VAT and PAYE collections under HMRC reforms

HMRC is pressing ahead with plans to collect VAT and PAYE payments from businesses by direct debit, despite overwhelming opposition from respondents to its consultation, according to accountancy firm UHY Hacker Young
FirstGroup agrees £109m assets sale to WYCA

FirstGroup has agreed the sale of assets to the West Yorkshire Combined Authority (WYCA) for £109m
VMO2 to slash 4,000 jobs as pressures mount

Virgin Media O2 is expected to announce that it is cutting up to 4,000 jobs, around a quarter of its 16,000-strong workforce, under a major restructuring aimed at reducing costs and tackling its £22bn debt pile.

The UK telecoms operator, jointly owned by Liberty Global and Telefónica, is expected to unveil a transformation programme alongside its third-quarter results on 3 November, following pressure from investors over its ability to service its borrowings


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