Business, Economics, Stock markets, FTSE, Confederation of British Industry (CBI), Rachel Reeves, Bank of England Business | The Guardian
Rolling coverage of the latest economic and financial newsDIY chain Kingfisher has blamed the budget for hitting consumer confidence, and revealed that increases to employer national insurance contributions will cost it £31m.Kingfisher has slightly lowered its earnings guidance this morning, it now expects adjusted pre-tax profits to be between £510m to £540m, down from £510m-£550m previously.“Overall trading in the third quarter was resilient. Improved performance in August and September was offset by the impact of increased consumer uncertainty in the UK and France in October, related to government budgets in both countries.“We have asked businesses and the wealthiest to contribute more. I know those choices will have an impact. But I stand by those choices as the right choices for our country: investment to fix the NHS and rebuild Britain, while ensuring working people don’t face higher taxes in their payslips.” Continue reading…
Rolling coverage of the latest economic and financial news
DIY chain Kingfisher has blamed the budget for hitting consumer confidence, and revealed that increases to employer national insurance contributions will cost it £31m.
Kingfisher has slightly lowered its earnings guidance this morning, it now expects adjusted pre-tax profits to be between £510m to £540m, down from £510m-£550m previously.
“Overall trading in the third quarter was resilient. Improved performance in August and September was offset by the impact of increased consumer uncertainty in the UK and France in October, related to government budgets in both countries.
“We have asked businesses and the wealthiest to contribute more. I know those choices will have an impact. But I stand by those choices as the right choices for our country: investment to fix the NHS and rebuild Britain, while ensuring working people don’t face higher taxes in their payslips.”
