Ithaca Energy closes in on £3bn valuation as London float looms November 2, 2022 Ithaca Energy is closing in on a value above £3bn in what could be London's largest initial public offering this year.
Sunak’s Cop-27 attendance is a facile row that sums up too much of our politics November 2, 2022 Little could more perfectly sum up the facile nature of our energy and climate debate – and indeed often our politics – than the confected row about whether or not Rishi Sunak attends Cop-27 in Egypt this month. Does anyone, honestly, believe that the Prime Minister’s attendance is going to make one iota of difference [...]
The City is a green machine but ESG claims must be scrutinised properly November 2, 2022 Greenwashing, virtue-signalling and corporate guff are setting back the City’s environmental agenda Is it pro-bird? Is it anti-plane? Or is it just a bubble? That’s the question that many in the City have been asking themselves over the past few months about those three little words: environmental, social, and governance. The rise of ESG was [...]
Metro Bank, NatWest and Hospitality UK among top employers to back fertility pledge November 2, 2022 Metro Bank, NatWest, the Co-op, Channel 4, and UK Hospitality are among major employers backing a pledge to help millions going through fertility treatment. A new campaign launched today in Parliament by the MP for Cities of London and Westminster, Nickie Aiken, hopes to support more than 3.5m people who can’t conceive naturally. The Fertility [...]
Smurfit Kappa packages up revenue growth as it offloads cost inflation to customers November 2, 2022 Smurfit Kappa posted growth in revenue and profit for the first nine months of 2022 as it offloads higher prices onto customers. The packaging firm saw revenue jump 33 per cent to €9.72bn, while EBITDA grew by 43 per cent to €1.76bn. Smurfit Kappa chief Tony Smurfit said the company had recovered significant cost inflation [...]
Wizz Air’s losses widen as soaring fuel prices hit low-cost carrier’s profitability November 2, 2022 Hungarian airline Wizz Air today said soaring fuel prices had caused its losses to more than triple over the previous year. The budget airline said surging commodity prices and an unfavourable exchange rate had seen the price it pays for jet fuel double, as it posed losses of €384.4m (£330.6m) for the second quarter of [...]
Expensive bites for millions of Brits as food inflation soars to record 11.6 per cent November 2, 2022 With even basics such as tea bags, milk and sugar seeing significant price rises, food inflation has soared to a record 11.6 per cent in October. Overall shop prices are now 6.6 per cent higher than they were this time last year – also a record – but food inflation jumped well above September’s 10.6 [...]
Exclusive: Confidence in Bank of England hits rock bottom as investors call Bailey’s hiking cycle ‘wrong’ November 2, 2022 Investor confidence in the Bank of England is close to rock bottom as the country braces itself for an eighth successive hike in interest rates tomorrow. Nearly three in four investors feel the Bank had gotten its hiking cycle “wrong”, though respondents were sharply divided over whether rises had come too fast or too slow, [...]
Revenue dips for Virgin Media O2 as it eyes digital expansion and growth November 2, 2022 Virgin Media O2 posted a slight revenue dip in the third quarter, as the telecom giant rides out “an increasingly challenging macroeconomic backdrop”. Adjusted revenue was down 0.6 per cent to £2.59bn, with results dragged down by a 3.7 per cent decline in handset revenue. Total mobile revenues increased by 2.1 per cent to £1.5bn, [...]
Global companies with net zero goals on course to miss climate ambitions November 2, 2022 Nearly all global companies with net zero ambitions will fall short of their environmental goals, warned Accenture.