Big banks cannot compete with Tide, says ex-banker May 3, 2023 | Sponsored “I’m not a numbers person”, says former bank employee who turned to Tide for its simplicity ‘’For me, running a business, it’s all about speed. If you can do something for me quickly, it means I can focus my time on running my business elsewhere, especially making stuff.” A former bank employee who turned her [...]
“Relationship with a colleague” forces FTSE 100 finance chief to step down May 3, 2023 The chief financial officer at FTSE 100 firm RS Group stepped down today after notifying the company’s board about a relationship with another member of staff. The company, which distributes industrial and electronics products, said that chief financial officer David Egan would leave the business “with immediate effect”. “Very recently I notified the board of [...]
Morning in the City: News, market updates, and more: LIVE May 3, 2023 Good morning and welcome to City A.M.’s morning liveblog, bringing you all the news and market updates you need to start your day.
As FCA rewrites listing rules, another firm ditches London due to ‘regulatory burden’ May 3, 2023 A London-listing and the associated tangle of regulatory red tape inflict more pain on firms than benefits, an AIM-listed renewables firm said today, as it announced plans to ditch its quoted status in the City.
Coca-Cola HBC’s revenue fizzes almost 25 per cent – but Russia exit still hurts a year on May 3, 2023 Coca-Cola HBC AG, the bottling company of the soft drink giant, reported strong revenue growth at 22.2 per cent, but it continues to take a hit from withdrawal of its business in Russia last year. Net sales revenue were up 24.4 per cent, but the firm stated that foreign exchange movements, particularly currency devaluation in [...]
Haleon: Flu season and Chinese pain relief give GSK spin-out a boost May 3, 2023 A “strong” cold and flu season and the end of Chinese lockdowns contributed to a healthy revenue boost for Haleon, the spin-out of GSK’s consumer healthcare division. Organic revenues within the group were up 9.9 per cent, with operating profit hitting £627m – reflecting a large reduction in the costs of spinning out the business [...]
Musk relaunches Tesla flagship model at lower price as supply chain backlog lifts May 3, 2023 Tesla Inc has resumed taking orders for its Model 3 long-range version in the United States, the company’s website showed late on Tuesday, after a temporary halt last year due to delivery backlogs. The long-range version of the entry-level Model 3 is priced at $47,240 currently, about 18.5% less than the $57,990 it was priced at [...]
Tax smoothies and ban smoking: George Osborne’s prescription for Britain May 3, 2023 The former Chancellor George Osborne has said the government should extend taxes on sugary drinks to fruit juices and begin the process of phasing out smoking. Speaking to the Times, the now chair of the British Museum said it was time to “look at the long-term legality of smoking.” Osborne, who introduced a limited tax [...]
The Notebook: Neil Bennett on the local elections, the BBC and a very modern strike May 3, 2023 The other day my bike appeared in The Sun. Like any proud owner, I have carefully kept the cutting. The reason for this was a colleague needed a prop for his anti-pothole campaign, catchily called “Pot Trumps”. Each day he features a large and terrifying pot hold on Instagram in a forlorn attempt to persuade [...]
London listings: Watchdog proposes doing away with ‘standard’ and ‘premium’ segments May 2, 2023 The UK’s financial watchdog announced proposals to streamline listing rules in the UK as it seeks to make the UK market a more attractive destination for firms to list. The Financial Conduct Authority (FCA) acknowledged that the UK’s listing regime was seen by some as too complicated and has proposed merging the ‘standard’ and ‘premium’ [...]