BUSINESS LIVE: MJ Gleeson hikes expectations; Wizz Air nears profit

website FTSE 100 is down 1 per cent in early trading. Among UK companies with reports and updates are MJ Gleeson, Wizz Air, Go-Ahead Group and Joules Group. Housebuilder MJ Gleeson expects profits ‘significantly ahead’ of expectations for the full year, with the firm having been boosted by strong demand for low-cost homes.»,»headline»:»BUSINESS LIVE: MJ Gleeson hikes expectations; Wizz Air nears profit; Heathrow sees ’40 years of passenger…website website should look through ‘short-term noise’ of Tory leadership website Clark, portfolio manager at Quilter Investors:

‘As with the run-up to the mid-terms in the US we shall need to wait and see what is promised through the campaign trail and what priorities are made when the new Prime Minister is elected and chooses their cabinet as to whether this acts as a potential relief for local and international investors.

‘For investors, however, there is one key philosophy to keep in mind when assessing political risk. Around any political event there will be short-term noise, but it is important that you keep focused on the long-term and instead look through at what could be implemented and how that may affect your portfolio.

‘Volatility will come and can be unsettling but keeping your eyes on the long-term will allow you to view that volatility as an opportunity, buying assets that may see their share prices unfairly punished in the immediate aftermath of an event.

‘Whether those opportunities present themselves in this situation remain to be seen, however, there is a long way to go until the latest political saga has played out.’»,»author»:{«@type»:»Person»,»name»:»Mike website to 1,500 Post Office workers launch 24 hour strike in row over website Office workers have become the latest group of workers to launch strike action — following a row with bosses over pay.

Up to 1,500 members of the Communication Workers Union (CWU) are on strike today at Crown Post Offices — the larger branches usually sited on high streets.»,»author»:{«@type»:»Person»,»name»:»Harry website reply to Twitter’s pledge to sue him…website boss Bret Taylor said the company planned ‘to pursue legal action to enforce the merger’ — here’s how Musk responded…»,»author»:{«@type»:»Person»,»name»:»Camilla website shares in focus as Musk abandons plans to buy the website eyes will be on Twitter shares later today, as Elon Musk announced on Friday night he had abandoned his £36.5billion takeover of the company over what he claimed were ‘false and misleading representations’ from the social media site. 

Some background to the story below…

 «,»author»:{«@type»:»Person»,»name»:»Camilla website shares tumble 23% as it calls in KPMG to seek cash website in fashion retailer Joules have lost almost a quarter of their value today after the company confirmed it has called in advisers to look at bolstering its finances.

The posh wellies chain had warned in May that rising costs and falling consumer confidence hit its bottom line.

Following weekend reports suggesting it was considering to raise fresh capital, Joules said it has hired KPMG to help with plans to boost profits and shore up its balance sheet.

Joules shares fell 23 per cent to 25.50p, having lost 90 per cent of their value over the past year. 

Joules said: it continued to focus on ‘improving profitability, cash generation and liquidity headroom’ and that KPMG’s debt advisory practice  was ‘to assist in this process’.

But the group insisted debt levels remain within its banking agreements and as expected by management.»,»author»:{«@type»:»Person»,»name»:»Camilla website MJ Gleeson ups expectations amid rising prices and strong demand from first-time website and land investor MJ Gleeson has upped its full-year expectations as sales rose, and rising house prices offset a surge in building and labour costs. 

The company, which focuses on ‘affordable’ homes for first-time buyers, has hit its target of doubling house sales in five years, having shifted 2,000 homes in the year to the end of June, up 10.4 per cent on the year before.

Average selling prices rose by nearly 15 per cent to £167,300, offsetting ‘significant material and labour cost increases experienced across the sector in the period’. «,»author»:{«@type»:»Person»,»name»:»Mike website BRUMMER: 1985 action over dollar contrasts current website a balmy Sunday in September 1985, when working as a correspondent in Washington, I took a phone call from a colleague at the FT who suggested that it might be worth going to New York. Financial leaders from the big five advanced economies were holding an unscheduled meeting. 

We made our way to the Plaza hotel in Manhattan. On arrival we inquired as to where the meeting was taking place and were directed to a suite on an upper floor. «,»author»:{«@type»:»Person»,»name»:»Harry website Tories tear themselves apart over tax in bitter website Tories are tearing themselves apart over tax as the race to succeed Boris becomes bitter, with Javid shredding billionaire Sunak’s record as chancellor, Truss vowing to abolish the National Insurance hike and Shapps and Zahawi saying that they will boost defence spending.

Announcing their bid for leadership, former health secretaries Jeremy Hunt and Sajid Javid both pledged to slash corporation tax, cutting the 25 per cent rate to 15 per cent.»,»author»:{«@type»:»Person»,»name»:»Harry website open: FTSE 100 down 1.1%; FTSE 250 off website stocks have opened lower this morning as fresh Covid-19 curbs in China and the ongoing energy crisis in Europe hurt sentiment, with investors awaiting earnings reports for clues on economic and corporate health.

The FTSE 100 is down 1.1 per cent, with mining majors weighing most on the index as Anglo American, Rio Tinto and Glencore each fell between 3.4 per cent and 5.6 per cent amid declines in metal prices.

Wizz Air is down 5.4 per cent after the Hungarian budget airline said it may reduce its aircraft usage in peak summer period to hedge for labour shortages and strikes at European airports. «,»author»:{«@type»:»Person»,»name»:»Mike website faces dairy shortage with price of butter and milk still website food crisis is set to worsen because of shortages of milk and butter with farmers having to slash production because of a lack of staff, the UK’s largest dairy firm warned today.

Arla Foods, the maker of Lurpak and Cravendale milk, believes prices will continue to spike because of the rising cost of feed, fuel and fertiliser and continuing problems with recruitment.»,»author»:{«@type»:»Person»,»name»:»Harry website 12% of salary towards a pension ‘would drain rainy day website rainy day funds could take a 10 per cent hit if they had to save more of their salary towards a pension, new research shows.

A jump in minimum pension savings under auto enrolment from 8 per cent to 12 per of salary could take chunks almost that large out of people’s surplus income at the end of every month and their net financial assets too, it found.»,»author»:{«@type»:»Person»,»name»:»Harry website Grid boss John Pettigrew faces a revolt over excessive pay at a time when many Britons are…website of Britain’s top energy bosses faces a revolt this week over excessive pay at a time when many Britons are struggling to pay their energy bills. 

National Grid boss John Pettigrew landed a £6.5m payday for the year to the end of March 2022, a year which has seen the country plunged into an energy crisis. 

«,»author»:{«@type»:»Person»,»name»:»Mike website Canocchi»},{«@type»:»Person»,»name»:»Mike Sheen»},{«@type»:»Person»,»name»:»Harry Wise»}]}