Latest news with #SW
The Independent
7 days ago
- Business
- The Independent
Businesses plan further job cuts after national insurance hikes
A third of business owners are planning further job cuts following April's increase in national insurance contributions (NICs), new research has found. Many companies are also considering reducing hours, freezing pay, and raising prices to offset the increased tax burden. According to S&W's business owners sentiment survey, approximately 20 per cent of businesses have already reduced staff numbers as a direct consequence of the NICs changes that took effect in April. Last year, the Chancellor announced in the autumn budget that employers' NICs would rise from 13.8 per cent to 15 per cent, while also increasing the threshold at which firms would start paying. The increase coincided with a rise in the national living wage and reduced business rates relief for some firms. The survey revealed that 33 per cent of business owners are still planning further staff reductions in response to the tax increase. Firms said they were also looking to a series of other measures in order to offset the jump in their operating costs. The survey of 500 UK business owners with turnovers of £5 million upwards also showed 46 per cent of those surveyed said they were planning further price increases as a result. Meanwhile, 35 per cent of business owners said they planned to reduce staff hours and 29 per cent said they were looking at freezing pay. It comes as firms highlighted higher commodity and energy costs, as well as disruption from wider macroeconomic uncertainty. Claire Burden, partner in consulting at S&W, said: 'Businesses face considerable challenges in the current economic climate and many owners are having to make difficult decisions to stay afloat. 'Given that salaries represent a considerable proportion of the overall cost base for most businesses, it is to be expected that many are looking closely at headcounts in response to the increased national insurance costs.' Alex Simpson, partner in employer solutions at S&W, said: 'For most businesses, the extent of the employers' NIC change was a surprise. 'We anticipated an increase in the employers' rate, but the additional reduction to the earnings threshold was not expected and is expected to have a dramatic impact over time.' Government spokesman said: 'We are a pro-business government. We are protecting the smallest businesses from the employer national insurance rise, shielding 250,000 retail, hospitality and leisure business properties from paying full business rates and have capped corporation tax. 'We delivered a once-in-a-Parliament budget last year that took necessary decisions on tax to stabilise the public finances, including the NHS which has now seen waiting lists fall five months in a row. 'We are now focused on creating opportunities for businesses to compete and access the finance they need to scale, export and break into new markets.'
Auto Express
16-06-2025
- Automotive
- Auto Express
Peugeot 308 set for radical redesign that's more than just skin deep
The Peugeot 308 is gearing up for a midlife nip and tuck, promising small styling tweaks and subtle upgrades under the skin – previewed here by spy pictures of the SW estate version, hidden in what looks like a test facility somewhere in Europe. Just three images have been supplied, and the camouflage wrap disguises almost all of the updated car's design. Despite the fact that the front is completely taped over, it's most likely the new 308's styling will take inspiration from the newer 3008 and 5008 SUVs – with sharper headlights and three-prong daytime running lights. We can also expect Peugeot to make the grille less prominent than the outgoing car's, probably with the use of extra body-coloured trim. The current 308's front end is more reminiscent of a conventional petrol or diesel car, so the maker will want to modernise the model's look with a fresher face. Advertisement - Article continues below To the side we can see a new wheel design not currently offered on the 308. Its geometric, squared-off design isn't dissimilar to some of the options available on the latest 5008, and should carry over to the production car unchanged. As before, the Peugeot crest features on the front wing. Skip advert Advertisement - Article continues below At the back, we can pick out what looks like a subtly different lighting signature, but the bumper design doesn't appear to have been altered all that much. The mule – as confirmed by the 'Electrique' lettering on the number plate – is thought to be the updated EV version. The clean bumper design and lack of exhaust pipes confirm this. We don't expect any fundamental changes to the car's underpinnings, meaning the 308 will remain on the EMP2 architecture rather than moving to the newer STLA-Medium platform. However, recent updates saw a new Plug-in Hybrid 195 model added to the range – boosting the 308 PHEV's zero-emission range to almost 50 miles. Elsewhere, the petrol-electric Hybrid will be carried over, but the diesel is likely to be ditched; the mechanically similar Vauxhall Astra is no longer available with a diesel engine, and the fuel is used sparingly by the 308's rivals. We may see the E-308's battery capacity increase slightly, but its usable range is unlikely to trouble dedicated-EV rivals such as the Cupra Born. The 308 is likely to drop its camouflage over the coming months, before being revealed in full before the end of the year. While we'd usually expect to see a small price hike over the outgoing car, Stellantis (parent company of Peugeot, Vauxhall and Citroen, among others) has been pretty punchy in recent months, slashing costs to ensure certain models come in under the £40,000 VED threshold for 'luxury' cars. As such, we may see prices for certain variants – particularly the high-spec PHEVs and EVs – cut to make them more appealing to potential buyers. Now you can buy a car through our network of top dealers around the UK. Search for the latest deals… Find a car with the experts New Peugeot 208 GTi: electric hot hatch gets stunning looks and plenty of power New Peugeot 208 GTi: electric hot hatch gets stunning looks and plenty of power Hot Peugeot E-208 gets racier styling, 276bhp and does 0-62mph in just 5.7 seconds Car Deal of the Day: Kia Sportage at £255 per month can't be anything but popular Car Deal of the Day: Kia Sportage at £255 per month can't be anything but popular The Kia Sportage has earned its popularity over the years and deals like our Car Deal of the Day for June 14 won't do it any harm at all. New entry-level Renault Symbioz is £3k cheaper than a Nissan Qashqai New entry-level Renault Symbioz is £3k cheaper than a Nissan Qashqai The Renault Captur has also been fitted the new full-hybrid powertrain, which gets a bigger battery for more pure-electric driving
Yahoo
02-06-2025
- Business
- Yahoo
Arv Private Wealth Launches with Support from LPL Strategic Wealth
SAN DIEGO, June 02, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC announced today that financial advisors Christian Reuter, James 'Scott' Robinson and Michael Capeder have launched a new independent practice, Arv Private Wealth, through affiliation with LPL Financial's supported independence model, LPL Strategic Wealth. They reported serving approximately $330 million in advisory, brokerage and retirement plan assets* and join LPL from RBC. Based in San Diego, Reuter and Robinson have been collaborating since 2012 and bring a combined six decades of financial industry experience to the practice. Capeder, who entered the financial industry in 2018, completes the team. Together, they aim to create an independent practice focused on helping clients work towards a more secure financial future. The firm's name is a nod to the Danish word for 'legacy' and 'heritage,' serving as a guidepost for providing a holistic and integrated experience for their clients. 'Clients face a myriad of situations throughout their lives — both good and bad — and it's our responsibility to be there for them,' Reuter said. 'Not just as financial advisors, but as trusted confidants, friends and someone they can turn to for guidance. For us, it's not just about managing their wealth; it's about being there for our clients when they need us most.' Why they made the move to LPLThe team chose to affiliate via LPL's comprehensive supported independence solution, LPL Strategic Wealth Services (SW), which combines the freedom and flexibility of entrepreneurship with hands-on business services and support to help practices thrive, both operationally and strategically. In addition to having access to LPL's innovative wealth management platform and sophisticated resources, SW advisors benefit from a truly integrated service that includes simplified pricing, technology and dedicated support to launch their practice. Then, after the transition is complete, SW teams receive ongoing operations support managed by their team of experienced professionals including a business strategist, marketing partner, CFO and administrative assistant. Advisors have one point of contact, a dedicated team and priority access to advocacy and project management for complex business issues, ultimately allowing them to stay focused on the enduring needs of their clients and the culture and evolution of their practice. 'From our first meeting, it was clear that everything LPL offers is designed with the advisor in mind,' Reuter said. 'From LPL's Admin Solutions which will allow our clients to schedule appointments quickly and easily, to ClientWorks, where they can access all their accounts with a single sign on, we will be able to create our ideal independent practice and deliver a next-level client experience.' Scott Posner, LPL Managing Director, Business Development, said, 'We welcome the Arv Private Wealth team and congratulate them on going independent with LPL Strategic Wealth. At LPL, we believe in providing the strategic support and innovative resources advisors can use to deliver differentiated client experiences. We look forward to supporting this team for years to come.' RelatedAdvisors, learn how LPL Financial can help take your business to the next level. About LPL Financial LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports over 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.8 trillion in brokerage and advisory assets on behalf of approximately 7 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit Securities and advisory services offered through LPL Financial LLC ('LPL Financial'), a registered investment advisor and broker-dealer, member FINRA/SIPC. Throughout this communication, the terms 'financial advisors' and 'advisors' are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial. We routinely disclose information that may be important to shareholders in the 'Investor Relations' or 'Press Releases' section of our website. *Value approximated based on asset and holding details provided to LPL from end of year, 2024. Media Contact: Tracking #743659Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
Smurfit Westrock to Gain From Asset Optimization Amid Cost Woes
Smurfit Westrock Plc SW is gaining from its focus on asset optimization and business improvement initiatives. The company has been undergoing significant transformation since 2023, wherein it has closed underperforming facilities, divested non-core assets and streamlined operations to drive efficiency and cost savings. These efforts are expected to position the company for long-term growth and SW is facing headwinds from merger-related costs, and higher freight and chemicals costs. These are likely to persist and impact its margins in the coming quarters. Labor shortages and supply-chain issues are other woes. Combined Potential to Enhance Growth: Smurfit Westrock was formed by the merger of two major paper and packaging industry players, Smurfit Kappa and WestRock, on July 5, is set to deliver the combined potential of Smurfit Kappa and WestRock. Smurfit WestRock has an unmatched geographic reach spanning 42 countries. Given this scale, and equipped with both WestRock's and Smurfit Kappa's highly complementary portfolios and innovative sustainability capabilities, the merged entity is likely to be the global 'Go-To' packaging partner for companies and customers across the company boasts a well-invested asset base with numerous opportunities identified across its operations. In the first quarter of 2025, Smurfit Westrock made investments in containerboard, corrugated and consumer systems across three regions. Smurfit Westrock expanded its Bag-in-Box offering in Spain and the United States, upgrading mill systems in several countries for efficiency, capacity and environmental improvements, and implementing state-of-the-art converting equipment to reduce costs and enhance innovative Westrock is already seeing the initial results of the actions taken. After the first quarter of 2024, SW affirmed its $400-million synergy target for the first year of on Asset Optimization: The company is focused on comprehensive asset optimization and business improvement initiatives. In sync with that, Smurfit Westrock closed underperforming facilities, including 32 packaging facilities, closed three mills and divested four mills since the start of 2023. In the first quarter of 2025, SW closed four mills with a capacity reduction of approximately 600 Westrock also optimized its packaging footprint through significant restructuring actions, including plant closures in Portland, Oregon and Chicago, IL, alongside consultations at two German plants. These moves are expected to drive operational efficiencies, yield cost savings and enhance resource allocation for the company by focusing on core facilities. This is likely to position SW for long-term growth and for Packaging Solutions: Smurfit WestRock will gain from the growing demand for sustainable, fiber-based packaging solutions. Its consumer business remains robust, with growth in beverage, healthcare, and retail and food. SW's overall packaging business is gaining from strong demand, and the implementation of containerboard and boxboard price company also stands to gain from strong growth in e-commerce activities that continue to support demand for packaging solutions. SW is focused on developing sustainable packaging solutions for its customers to help them reduce their environmental footprint. Smurfit Westrock will benefit from solid demand for corrugated packaging, containerboard, food and beverage consumer packaging, and industrial preference for environmentally friendly biodegradable packaging materials is witnessing a steady rise globally, courtesy of customers' increasing awareness of environmental issues. According to Statista, global e-commerce revenues are expected to reach $4.32 trillion in 2025, and witness a compound annual growth rate (CAGR) of 8.02% between 2025 and 2029. In the first quarter of 2025, Smurfit WestRock's cost of sales soared 173.9% year over year. Its selling, general and administrative costs also increased. The company recorded transaction and integration-related costs of $395 million associated with the collaboration in 2024. The merger-related costs are expected to be worrisome for SW in the upcoming quarters and disrupt the free cash flow Westrock continues to face higher freight, wage and chemical costs. This will continue to impact its margins. Meanwhile, labor shortages and supply-chain issues have been disrupting production and impacting shipments to customers. This situation is anticipated to persist and impair SW's ability to meet the high demand. Moreover, the unfavorable impacts of currency translations are expected to hurt its EBITDA performance. Shares of the company have declined 14.8% in the past six months compared with the industry's 8% fall. Image Source: Zacks Investment Research Smurfit Westrock currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks from the basic materials space are Carpenter Technology Corporation CRS, SSR Mining Inc. SSRM and Idaho Strategic Resources IDR. Carpenter Technology currently sports a Zacks Rank #1 (Strong Buy), whereas SSR Mining and Idaho Strategic Resources carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks Technology has an average trailing four-quarter earnings surprise of 11.1%. The Zacks Consensus Estimate for CRS's 2025 earnings is pegged at $7.20 per share, which indicates year-over-year growth of 51.9%. Carpenter Technology shares have skyrocketed 111% in the last Mining has an average trailing four-quarter earnings surprise of 58.8%. The Zacks Consensus Estimate for SSRM's 2025 earnings is pegged at $1.14 per share, implying year-over-year growth of 307%. SSR Mining's stock has soared 88.6% in the last Strategic has an average trailing four-quarter earnings surprise of 21.7%. The Zacks Consensus Estimate for Idaho Strategic's 2025 earnings is pegged at 78 cents per share, indicating year-over-year growth of 16.4%. IDR shares have jumped 24.5% in the last year. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carpenter Technology Corporation (CRS) : Free Stock Analysis Report Silver Standard Resources Inc. (SSRM) : Free Stock Analysis Report Idaho Strategic Resources, Inc. (IDR) : Free Stock Analysis Report Smurfit Westrock PLC (SW) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
17-05-2025
- Sport
- Yahoo
Kim leads but Scheffler heads contenders jostling up stacked leaderboard at US PGA
Live coverage of day three at Quail Hollow Club in Charlotte, North Carolina BBC Radio 5 Sports Extra 2 commentary available here SW Kim -7 (6) Hisatsune -6 (10), DeChambeau -6 (9), Scheffler -6 (6) Vegas -6 (6), Fitzpatrick -5 (5) McIlroy +1 (6*) Local storms delay start and change groups from two-ball to three-ball with split tees Kim leads but Scheffler heads contenders jostling up stacked leaderboard at US PGA
