Amazon strike ballot ‘making history’ says UK union boss September 15, 2022 AMAZON workers at a Coventry warehouse became the first in the UK to take part in a formal strike ballot against the ecommerce titan. Hundreds of workers began voting this morning on whether to walk out over Amazon’s 35 pence per hour pay offer, with union GMB lobbying for a £2 per hour increase as [...]
Investment management firm Brooks Macdonald dips as clients feel market sting September 15, 2022 Funds under management dipped for Brooks Macdonald this year as the investment management firm warns of the challenging market environment for clients and advisers. Group funds under management (“FUM”) closed at £15.7bn, down nearly five per cent from last year, as positive net flows were offset by the impact of declining markets on asset values. Brooks [...]
Gresham House posts resilient asset growth despite challenging backdrop September 15, 2022 Gresham House said it saw "resilient growth in a challenging environment", as assets under management continue to climb.
Drop in Covid-19 vaccine demand swings Oxford Biomedica to a loss September 15, 2022 A drop in Covid-19 vaccine demand and manufacturing has swung British biotech firm Oxford Biomedica to a revenue loss in the half of the year. The London-listed firm, which worked with AstraZeneca’s to produce its Covid-19 vaccine, has revenue slip more than 20 per cent to £64m in the six moths to 30 June, down [...]
Wickes has ‘record sales’ despite softening in DIY market after pandemic September 15, 2022 Home improvement specialists Wickes maintained strong revenue and profits for the first half of the year, bolstered by younger people who turned to DIY during the pandemic. The businesses had a 1.3 per cent rise in revenue up until July this year, with profit before tax up 6.2 per cent. Its like-for-like sales were up [...]
Trainline ticket sales boom as travel app focuses on international expansion September 15, 2022 Trainline said group net ticket sales rocket as the travel firm makes a steady post-pandemic recovery, as it focuses on international expansion amid UK train strike disruption. The online ticketing platform said in its half year results that group net ticket sales grew 116 per cent year-on-year (YoY) to £2.2bn, 17 per cent higher than pre-COVID levels. [...]
City Moves: Who’s switching jobs in the Square Mile? September 15, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Boreal IM Pan-European real estate investment manager Boreal IM has hired an ex-Merrill Lynch investor as a partner. Nikos Koulouras, the former head of investments at investment advisor AEW, brings over 20 years of experience to the firm’s London office. Koulouras is set to focus on the development [...]
Starbucks interim chief says firm ‘lost its way’ as chain heads for fresh growth plan September 15, 2022 Starbucks’ interim chief said the firm had “lost its way” in recent times as the coffee giant eyes up a $450m growth plan. In an interview with the Financial Times, Howard Schultz said although the company had gone through a rocky period, he believed “the best days of Starbucks are ahead of us”. In an [...]
UK consumer confidence falls into negative territory for first time since 2020 September 15, 2022 Confidence among UK consumers has fallen into negative territory for the first time since June 2020, according to a survey. The Consumer Confidence Index from YouGov and the Centre for Economics and Business Research (Cebr) fell by 4.2 points in August from 103.0 to 98.8, the largest decline since the early stages of the pandemic. [...]
Bankers’ bonus cap could be scrapped by Kwasi Kwarteng September 14, 2022 The bankers’ bonus cap, which limits the pay of top City and Canary Wharf executives, could be scrapped by new Chancellor Kwasi Kwarteng. The cap, which was brought in as part of EU-wide efforts after the financial crisis, has long been criticised as an anti-competitive stranglehold on the capital’s competitiveness. Kwarteng wants to scrap the [...]