08:06, Graeme Evans
De La Rue today claimed its money order publication stood at the highest degree in 5 years, enhanced by multi-year, polymer-based banknote agreements.
Chief exec Clive Vacher claimed in today’s half-year results that the orders “solidly underpin our growth expectations”.
He included: “With these firm foundations, our ongoing Currency business is now well positioned to take full advantage of an improving market, with a substantial upward step change in activity in 2025 and beyond.”
Half- yer incomes dropped 10.2% to ₤ 145.1 million after a 16.3% decrease in Currency greater than balance out a 4.4% increase in the Authentication department, that makes items to secure versus immoral profession, counterfeiting and identification burglary.
De La Rue just recently concurred the sale of the Authentication department to Crane NXT for ₤ 300 million.
This will certainly enable the settlement of existing financial centers and decrease the staying shortage on its tradition specified advantage pension plan system.
Vacher included: “We have made substantial progress in 2024 both operationally and strategically.”
07:45 , Graeme Evans
The European Central Bank is expected to cut its deposit rate by another quarter point to 3% when the latest policy decision is announced at 1.15pm UK time.
Such a move would extend rate cuts since June to 100 basis points, a run that has weakened the euro to a two-year low against the US dollar.
A half point cut is seen as unlikely today as policymakers keep their options open for 2025, given uncertainty around the timing, extent and impact of US tariffs.
Deutsche Bank sees quarter point cuts at every meeting in the first half of next year and for the deposit rate to end 2025 at 1.5%.
The Federal Reserve is likely to make another interest rate cut next week after yesterday’s inflation reading of 2.7% met Wall Street expectations.
07:23 , Graeme Evans
The boss of retailer Currys has used the company’s improved set of half-year results to criticise “new and unwelcome headwinds from UK government policy”.
Alex Baldock said: “These will add cost quickly and materially, depress investment and hiring, boost automation and offshoring, and make some price rises inevitable.”
Currys calculates that recent changes to Government policy including the Budget will have an incremental cost to the group of £32 million.
This includes a £9 million rise in wages due to National Living Wage increases and £12 million in relation to National Insurance contributions.
