Gambling Stocks Sink on Rumours of Potential UK Tax Rises

Gambling Stocks Sink on Rumours of Potential UK Tax Rises

The UK's gambling sector experienced a downturn in stock prices following unconfirmed market rumours that the government is considering raising taxes on the industry.
The speculation, which emerged on Friday, caused a significant sell-off in the shares of major gambling companies.
This comes ahead of a possible autumn budget where the government is expected to address a large spending gap.
The gambling industry has been under increasing scrutiny from regulators and politicians, and any new taxes would be a blow to the sector's profitability.
The news highlights the sensitivity of UK markets to government policy and the potential for regulatory changes to impact specific industries.

Close Brothers Faces New Blow Over Car Loans as Fresh Compensation Set Aside

Lender Close Brothers has set aside an additional £33 million to compensate customers for overcharged car loans, marking a fresh blow amid the ongoing investigation into historical mis-selling in the UK car finance market.

Gold Hits Best Annual Performance Since 1979 as Geopolitical Crises Fuel Bullion Bonanza

Bullion has hit a series of record highs, putting 2025 on track for gold’s strongest annual performance since 1979, driven by high inflation, interest rate volatility, and escalating geopolitical crises.

Beef Shortage and Low Confidence Push US Cattle Prices to Record Highs, Hitting Restaurants and Consumers

US cattle and beef prices have soared to record highs amid tight domestic supply, strong consumer demand, and ranchers’ reluctance to expand herds, with restaurant owners forced to pass on soaring costs to diners.

Poundland Announces Store Closures Amid Restructuring

Poundland plans to close up to 68 stores in 2025 following financial difficulties and restructuring.

Drax Shares Plunge Amid FCA Investigation into 'Renewable' Fuel

Shares in UK power company Drax Group PLC fell sharply after the Financial Conduct Authority (FCA) initiated a probe into the firm's accounting practices regarding its 'renewable' fuel sources.

UK Retailers' Shares Fall on Consumer Spending Squeeze Fears

UK retail stocks, including major names like Associated British Foods (Primark) and Kingfisher, experienced a sell-off following a bearish note from Deutsche Bank about a slowdown in discretionary spending.

Convatec Launches $300m Share Buyback Program

Medical products company Convatec has seen its shares surge after announcing a new share buyback program of up to $300 million.

FTSE 100 Hits New Highs Amid Geopolitical Optimism

The FTSE 100 index reached a new closing high, boosted by hopes of a resolution to the Russia-Ukraine conflict and strong performance from retailers.

Nanoco Expects to Beat Market Forecast for Revenue

Nanoco Group has stated that it expects to exceed market forecasts for revenue, a positive signal for the London-listed technology company.

Revolution Beauty Warns of Lower EBITDA

Revolution Beauty has issued a profit warning, stating that its adjusted EBITDA will be lower than expected after a revision to its stock provisions.

London-Listed Revolution Beauty Warns of Lower-Than-Expected Profit

Revolution Beauty has issued a profit warning, stating that its adjusted EBITDA for the last financial year will be significantly lower than initially forecast.

FTSE 100 Rises Amid Hopes of End to Ukraine War

London stocks rose on hopes that a diplomatic solution to the Russia-Ukraine war is on the horizon, boosting investor confidence.

IWG CEO Dismisses Share Price Fall as 'Not Rational'

The boss of flexible office group IWG has dismissed a 17% fall in the company's share price, calling it 'not rational' and blaming 'machine selling'.

IWG Boss Dismisses 17% Share Price Fall as 'Machine Selling'

The CEO of flexible office group IWG has dismissed a recent 17% fall in the company's share price, attributing the decline to 'machine selling' by automated trading systems.

Berenberg Raises Target Price on Entain

Analysts at Berenberg have increased their target price on the bookmaker Entain, stating that the group's valuation remains 'attractive'.

Deutsche Bank Hikes JD Sports Price Target

Shares in JD Sports surged after Deutsche Bank raised its price target on the stock, citing the company's strong performance and growth potential.

What is Pisces? New UK Stock Market Explained

An explainer has been published on 'Pisces', a potential new UK stock market that could provide an alternative to the London Stock Exchange's main market.

FTSE 100 Reverses Gains After Record High

UK's main stock index slips 0.42% post-record close, led by Standard Chartered loss and retail woes.

FTSE 100 Surges To Record High Before Decline

UK stocks hit new highs as investors shake off trade worries; inflation and unemployment rise.

TalkTalk Reveals Significant Losses, Loses 420,000 Customers

New accounts for telecommunications company TalkTalk show its pre-tax losses surged to £465 million, while the firm lost 420,000 customers in the last year.

Flutter Raises Profit Guidance Following Strong Quarter

Online sports betting operator Flutter has raised its full-year profit guidance after a record quarter, driven by strong growth in the US market.

Almost 4,000 Company Directors Leave UK Amid 'Wealth Exodus' Fears

New data shows that nearly 4,000 company directors have left the UK in recent months, raising concerns about a potential 'wealth exodus' ahead of possible tax increases.

UK Chancellor Considers Tax Rises for Autumn Budget

Reports suggest the UK Chancellor and Prime Minister are preparing the public for potential tax increases and reforms in the upcoming November budget to address a significant spending gap.

IFS Warns Wealthier Areas to Pay More Under Council Tax Reforms

The Institute for Fiscal Studies (IFS) has reported that planned council tax reforms could lead to significant bill increases for households in affluent regions like London and the home counties.

UK Construction Activity Shrinks at Steepest Rate in Five Years

The UK's construction sector experienced its sharpest decline in activity in July since the beginning of the COVID-19 pandemic, according to new data.

River Island Rescue Plan Approved, Saving Over 4,000 Jobs

High street retailer River Island has been saved from administration after a High Court judge approved its restructuring plan.

LSEG Reports Strong Growth and Shareholder Returns in H1 2025

London Stock Exchange Group (LSEG) announced robust H1 2025 performance, with significant income growth and plans for further share buybacks.

Retailers Warn Against Reeves' Tax Hikes, Threatening Price Rises and Job Cuts

UK retailers have cautioned that potential tax increases proposed by Shadow Chancellor Rachel Reeves could lead to higher prices for consumers and job losses.

Warm Home Discount Expansion to Benefit 6 Million Households

The Department for Work and Pensions confirms the £150 Warm Home Discount scheme will expand to include Universal Credit claimants from this winter.

Pension Age to Rise Again, Leaving 1.5 Million Britons Facing Benefit Limbo

The state pension age is expected to rise again, leaving 1.5 million Britons in 'benefit limbo' who are too young to retire but have lost access to key benefits and tax credits.

showbiz sport money travel garden news tech health science business politics culture environment