Indivior shares plunge as firm reduces full-year sales guidance September 27, 2018 Shares in addiction treatment pharma firm Indivior took a eight per cent hit this morning after it said sales for the year would be lower than expected. Indivior on Wednesday said full-year sales would be revised down to between $990m (£755m) and $1.02bn (£780m) from its February estimate of between $1.13bn and $1.17bn. In particular, it [...]
H&M revenues bounce after online focus, but logistics system dampens profits September 27, 2018 Swedish fashion brand H&M posted bumper revenues for the nine months to the end of August this morning, as third-quarter sales climbed amid the retailer’s efforts to ramp up its online shopping operations in the wake of persistent high street troubles. Revenues in the third quarter of 2018 climbed nine per cent to Skr64.8bn [...]
Project PAI Debuts in London Blockchain Scene September 27, 2018 | Sponsored The growing maturity of the crypto market, and bitcoin in particular, has London investors finally ready to wade into cryptocurrency pool. This rise in confidence means many popular cryptocurrency projects are now entering the London market. Recently, one such international blockchain – Project PAI, held their launch event in the heart of London’s financial [...]
Saga’s voyage of recovery interrupted by declining profits September 27, 2018 Retirement insurance and travel firm Saga this morning said it was making strong progress on its recovery despite reporting declining underlying before-tax profit. Underlying profit at the firm dropped 3.7 per cent to £106.8m – which was due to Saga investing heavily in its business and marketing, chief exec Lance Batchelor told City A.M. The firm's [...]
Women’s fashion retailer Bonmarché shares collapse as it warns on profits September 27, 2018 Women's fashion retailer Bonmarché's shares plunged 20 per cent in early morning trading after issuing a profit warning today, blaming weak high street demand and a lack of footfall. The company said its online sales continued to grow strongly but that sales in store have dipped in recent months. Underlying profits for the full [...]
Trading platform IG’s boss steps down amid regulatory uncertainty September 27, 2018 Online trading platform IG’s chief executive, Peter Hetherington, is set to stand down immediately, as European regulations begin to bite. Hetherington’s three-year tenure as group chief executive draws to a close today, though he will stay on to help manage the search for a successor at the spread betting platform. Chief financial officer Paul [...]
Automation and AI are leading the UK into a new industrial age September 27, 2018 Last year, the government’s Made Smarter Review set out how digital technologies can transform UK manufacturing by 2030. Receiving contributions from more than 200 organisations, the review spelled out how technologies like automation, artificial intelligence (AI), virtual reality, and additive manufacturing could help Britain lead the fourth industrial revolution, raising productivity, creating new, better-paid jobs, [...]
Bubble trouble: London among global cities most at risk of housing bubble September 27, 2018 London is among the top cities most at risk of a housing bubble, according to a new report measuring the world's most overpriced property markets. Hong Kong was ranked as the place most susceptible to a swift downturn after years of soaring house prices, while Munich, Toronto and Vancouver were also among the other most [...]
Ofgem investigates complaints handling at four energy firms, calling industry performance ‘unacceptably low’ September 27, 2018 Ofgem today announced it has opened investigations into four energy firms' complaints procedures, blasting the industry's performance on handling complaints as “unacceptably low”. The watchdog is investigating complaints handling at First Utility, Ovo Energy, Utilita and Scottish Power. Read more: SSE share price suffers as it issues profit warning It has also demanded that [...]
DEBATE: Is Labour looking more like a credible government-in-waiting after this year’s conference? September 27, 2018 Is Labour looking more like a credible government-in-waiting after this year’s conference? Finn McRedmond, staff writer at Reaction, says YES. In his keynote speech yesterday, Jeremy Corbyn said to Jim O’Neill, former Tory minister and Goldman Sachs economist: “You’re welcome, come and join us in the new political mainstream.” This was the pervasive sentiment: [...]