Justin Emerson

The UK economy slips backward

The UK economy contracted again in October, just as policymakers weigh the timing and scale of interest rate cuts. Gross domestic product fell by 0.1% month on month, matching the decline recorded in September and defying expectations for a modest rebound, according to figures published by the Office for National Statistics (ONS).

December 12, 2025 at 09:16 am

Grizzly Research targets Ceres Power

Grizzly Research just announced that it is short on Ceres Power. It has published a new report questioning the commercial outlook of the UK solid oxide fuel-cell developer whose shares have surged in recent months. The short-selling firm argues that Ceres has built its reputation on high-profile announcements and ambitious forecasts that have rarely been matched by real-world results.

December 11, 2025 at 09:18 am

BAT faces slow growth as U.S. vape battle intensifies

British American Tobacco (BAT) is promising progress, but its latest trading update shows a company caught between accelerating demand for nicotine alternatives and growing pressure on the fiercely contested U.S. vape market. Despite steady gains in 2025 and a renewed £1.3 billion share buy-back for next year, BAT now expects its 2026 results to hit only the bottom of its mid-term targets: a warning sign that competition and illicit products continue to undermine one of its most important growth engines.

December 09, 2025 at 10:15 am

Salesforce reassures the market

Harassed by activists and pressed by shareholders to justify a frenzy of expensive acquisitions, Salesforce is under scrutiny at every earnings release.

December 05, 2025 at 03:08 pm

Thames Water's murky turnaround

Thames Water has unveiled half-year results that tell a story of progress shadowed by peril. Britain's biggest water utility is investing at a pace not seen in a century and claims to be stabilising its creaking network. Yet its finances remain so fragile that the company continues to teeter between rescue and special administration.

December 03, 2025 at 09:45 am

Bank of England: Capital idea or pothole policy?

Britain's banks get a lighter load, but will they speed up the economy or veer off course?

December 02, 2025 at 09:49 am

Pets at Home: retail reset

Pets at Home's latest interim results paint a picture of a company caught between a flourishing veterinary arm and a faltering retail operation.

November 26, 2025 at 09:31 am

EasyJet : Steady as she flies

easyJet has reported another year of steady, unspectacular progress: an outcome that may reassure investors in a sector still wrestling with inflation, geopolitics and lingering operational headaches.

November 25, 2025 at 09:49 am

JD Sports runs to stand still

JD Sports, the trainer titan that once seemed able to outrun any market wobble, is now showing signs of strain. Its latest update paints a picture of a company still performing respectably, but doing so against an economic headwind that is becoming harder to ignore.?

November 20, 2025 at 09:40 am

Britain's Fiscal Two-Step

Markets wobble as Rachel Reeves retreats from an income-tax rise-then steady when the reason emerges.

November 14, 2025 at 09:22 am

BAE Systems' Confident March

A booming order book and resilient demand keep BAE Systems on a steady wartime footing.

November 12, 2025 at 08:53 am

Ralph Lauren back in favor

The ready-to-wear brand continues to enjoy a stellar stock market run and is expected to publish its third-quarter results shortly.

November 11, 2025 at 09:14 am

ITV and Sky: A merger to build Britain's next streaming powerhouse

In an era when television is being redefined by streaming platforms and shrinking ad budgets, Britain's oldest broadcaster may be preparing for its biggest shake-up in decades. ITV confirmed on Friday that it is in preliminary talks with Sky, the Comcast-owned pay-TV operator, over a possible £1.6 billion sale of its Media and Entertainment division: a deal that could reshape the UK's broadcasting landscape.

November 07, 2025 at 09:57 am

ABF faces profit squeeze

Cost pressures, sugar woes and mixed global performance drag down earnings at Associated British Foods. Management discussed the possibility of a break-up between Primark and the Food division.

November 04, 2025 at 09:35 am

Shell's $5.4 billion quarter

Shell has once again demonstrated that fossil fuels remain the backbone of global energy profits.

October 30, 2025 at 10:02 am

Next's quiet boom

When most British retailers are praying for mild weather and forgiving consumers, Next plc is doing something unusual: raising its profit forecast again. The high-street and online retailer has now upgraded guidance for the fourth time in eight months, after third-quarter full-price sales jumped 10.5%, far ahead of its own modest predictions.

October 29, 2025 at 09:26 am

Unilever: From Grocer to Groomer

Unilever shifts its centre of gravity to beauty and wellbeing and is beginning to show signs of discipline. In its third-quarter results, the consumer goods giant reported underlying sales growth of 3.9%, respectable if unspectacular, but what stood out was not the headline number. Rather, it was the quiet shift in tone: margin-led growth, cost containment, and sharper focus under new chief executive Fernando Fernandez. Beauty and wellbeing led the charge, volume returned in key markets. The Unilever of tomorrow may be smaller in scope, but it is starting to look more deliberate.

October 23, 2025 at 09:55 am

Markets smell a rate cut as UK inflation stalls

Why the Bank of England may yet trim rates… And why the risks still loom large.

October 22, 2025 at 09:15 am

Britain's borrowing problem is back, just as gilt markets wake up

Britain's public finances have re-entered a tricky phase. In September 2025, the state borrowed £20.2 billion (excluding public-sector banks), the highest September figure in five years. That was just above the Office for Budget Responsibility's forecast of £20.1 billion and slightly below the £20.8 billion expected by analysts: a modest overshoot, but one that still underscores how hard it will be for the government to meet its fiscal rules.

October 21, 2025 at 09:50 am

Pearson's Test of Nerve

The education giant delivers steadier growth, but can it pass the real exam of investor patience?

October 17, 2025 at 09:32 am

Entain posts solid Q3, but heavy debt casts a long shadow

Entain delivered a steady third quarter, helped by online growth and a strong performance from its U.S. joint venture BetMGM, but the Ladbrokes owner remains hemmed in by debt and leadership uncertainty as it seeks to convince investors its turnaround has real momentum.

October 15, 2025 at 09:41 am