Daniel O'Boyle

Business news editor

<p>The value of loans made by pawnbrokers in the UK topped £250 million last year after a 13% rise, new data shows (Ramsdens/PA)</p>
Business
29m

Pawnbroker loan value rises beyond £250m in 2023

Many pawnbrokers’ highest-interest loans have an APR in excess of 100%

20 May 2024
<p>Morrisons has reported its strongest sales growth for three years (Ian West/PA)</p>
Business

Morrisons to buy back £1bn of debt after petrol forecourts sale

The supermarket, owned by US private equity firm Clayton, Dubilier & Rice, had net debts of £8.5bn at the end of October last year, according to its most recent financial report

20 May 2024
<p>105-109 Oxford Street </p>
Business

Family office bets on Oxford St rebound with cut-price property deal

105-109 Oxford Street is home to Danish variety store Flying Tiger and sex shop Harmony

20 May 2024
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Business

Royal Mail firm ‘minded to’ accept £3.5bn offer from West Ham co-owner

A deal would see the 500-year-old institution Royal Mail taken off the stock market just under 11 years after it was privatised in an initial public offering

15 May 2024
<p>Czech billionaire Daniel Křetínský might be the next owner of Royal Mail, after submitting a shock bid for its parent company International Distributions Services (IDS) today (PA)</p>
Business

Who is Daniel Křetínský, the Czech billionaire bidding for Royal Mail?

He’s nicknamed the 'Czech Sphinx' due to his enigmatic approach to business

15 May 2024
<p>Bank of England governor Andrew Bailey (PA)</p>
Business

Inflation will be below-target by mid-2026, Bank of England says

The Bank previously believed that inflation would briefly fall back to target briefly this quarter, only to rise again and remain above target until 2027

9 May 2024
<p>The FTSE 100 hit another record high earlier today</p>
Business

Signs of UK-listed firms narrowing valuation gap after record FTSE run

With this weekend set to be the warmest of 2024 so far, the City will be hoping that the strong spring run turns into a red-hot summer for London shares

9 May 2024
<p>New questions emerged over fast fashion firm Boohoo recovery plan this morning, as losses ballooned to £160 million and sales slid by double digits across all regions. (Boohoo/PA)</p>
Business

Boohoo recovery plan doubts grow as losses hit £160m

Shares fell by as much as 6.3% as the business reporting declining revenue

8 May 2024
<p>Revolution Bars is in talks with 32 suitors as it hopes to find a buyer that could rescue the struggling hospitality business</p>
Business

Revolution Bars in talks with 32 suitors as it seeks rescue deal

While the sales process goes on, Revolution is also launching a restructuring plan, which would lead to it closing 18 bars and cutting hundreds of jobs

7 May 2024
<p>European stocks have recovered some of last week’s losses, with London’s FTSE 100 climbing higher (Nick Ansell/PA)</p>
Business

London out of top 20 IPO destinations of 2024 — joint with Kazakhstan

The IPO drought comes at the same time as an exodus of firms from the London Stock Exchange

4 May 2024
<p>High street bank Santander has increased its mortgage interest rates for the second time in four days, in the latest sign of fixed-rate prices are climbing back up (Danny Lawson/PA)</p>
Business

Santander raises mortgage rates for second time in four days

Lenders have been increasing mortgage rates again as the bank of England’s first interest rate cut appears further away than previously hoped

3 May 2024
<p>Average fixed-mortgage costs have eased slightly in recent months (Victoria Jones/PA)</p>
Business

House prices dip in April as mortgage rates hit property rebound

The average price across the UK was £261,962

1 May 2024