Saga to launch new over-50s media brand to capitalise on UK’s ageing population January 24, 2023 Saga is set to launch a new over-50s media brand, the conglomerate’s chief executive told City A.M., as the company looks to capitalise on the UK’s ageing population. Saga, which sells travel, insurance, and financial services to over-50s, is seeking to exploit a “gap in the market” and build a “superbrand for older people” by [...]
Capricorn Energy Chair, CEO quit board amid merger talks with NewMed January 24, 2023 Capricorn Energy’s chairperson, chief executive and three other directors have quit the board after weeks of shareholder pressure, led by activist investor Palliser Capital, to overhaul the British oil and gas producer’s leadership. Palliser and some of Capricorn’s biggest shareholders had publicly opposed a planned merger with Israeli gas producer NewMed NWMDp.TA, with major proxy advisers recommending votes [...]
City Pub Group: Rail strikes cost us nearly £1m in lost sales January 24, 2023 The City Pub Group reported a boost in trading over the festive period, and said sales would have been stronger if it weren't for the rail strikes.
Yu Group’s shares soar after supplier unveils bumper £275m revenues on back of smart meter uptake January 24, 2023 Yu Group's shares soared nearly 10 per cent on the London Stock Exchange, after the supplier revealed it expects to beat its guidance.
M&C Saatchi chair steps down as advertising firm unveils largest ever pre-tax profit of £31m January 24, 2023 Gareth Davis said he would not seek to be re-elected as chair of advertising giant M&C Saatchi. Davis made the announcement as the firm reported a nine per cent year-on-year increase in net revenue of £271m during 2022. M&C Saatchi also revealed it had made its largest ever profit, £31m, during 2022; the 14 per [...]
The Notebook: Victoria Scholar on Chinese New Year, air fares and edible economics January 24, 2023 | City Talk The notebook is where interesting people say interesting things. Today it’s Victoria Scholar, Head of Investment at Interactive Investor, on Chinese New Year, why air fares are on the increase and what we can learn about economics from food As the Chinese New Year begins, investors are increasingly turning their attention back to markets in [...]
Exclusive: Major Home REIT tenant on the brink of collapse after failing to win benefits backing January 24, 2023 One of the biggest tenants of troubled property investor Home REIT has stopped paying rent and is on the brink of going under as it struggles to secure sign off for government-backed housing benefits, City A.M. has learned. Lotus Sanctuary, which provides supported housing and accounts for 12.2 per cent of former Home REIT’s rental [...]
National Grid offers smart meter households a discount to slash energy usage but plays down fear of blackouts January 24, 2023 National Grid has extended plans for households to be offered discounts for cutting their energy usage, as the winter crisis bites.
Ovo Energy backs social tariff for vulnerable households facing record bills January 24, 2023 Ovo Energy has joined calls for a social tariff to help vulnerable households grappling with record energy bills.
Yule be happy: Christmas trading powers Primark owner’s rising revenues January 24, 2023 Food processing giant and Primark owner Associated British Foods has posted a bullish trading update, unveiling an upturn in revenues.