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Demerged Wickes expects annual profit to be at top end of forecast

Home improvement retailer Wickes said it expects full-year profits to be towards the top half of analysts forecasts as it continued to benefit from the UK s DIY boom. The company also saw its share price climb 4.7 per cent to 268p today after it revealed like-for-like sales rose by 45.7 per cent in the 21 weeks to May 22 while they were up by over a fifth against the same time in 2019. Core sales, meanwhile, have jumped by 53.1 per cent this year, with the group saying trade was notably strong in April thanks to larger sales volumes in DIY and local trade, though business last month was closer to expectations.

Bitcoin loses its lustre as a hedge against inflation

Bitcoin loses its lustre as a hedge against inflation Cryptocurrency s value down 40pc in the past month despite a spike in inflation 1 June 2021 • 12:19pm Bitcoin’s status as “digital gold” has been dealt a serious blow after the recent cryptocurrency rout coincided with a spurt of inflation.  In May, Bitcoin fell from $58,000 to $35,600 - a 39pc decline - while inflation rose suddenly in Britain and the United States. Gold moved in the opposite direction to the cryptocurrency, rising 7pc in May to just over $1,900 an ounce.  Bitcoin advocates argue that it has similar characteristics to gold and should perform well when inflation rises. 

974 beneficiaries in 3 Cebu towns benefit from cash-for-work program

974 beneficiaries in 3 Cebu towns benefit from cash-for-work program

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