WeWork: Flexible office space giant raises ‘substantial doubt’ over its future August 9, 2023 We Work has suffered a sharp fall in its share price after raising "substantial doubt" over its future.
Coca-Cola bottling firm raises outlook on revenue spike as Russia volumes tank August 9, 2023 Coca-Cola HBC AG, the bottling company of the soft drink giant, reported a 19.3 per cent rise in revenues in its half year results as the group raised its outlook for the year. Operating profit for the bottler rose 15.9 per cent to €170m (£146m) as the group said it benefited from price increases in [...]
TUI swings to first post-pandemic profit with this summer ‘going very well’ despite deadly heatwaves August 9, 2023 Tour operator TUI said it had swung to profitability for the first time since the pandemic on the back of soaring summer travel demand, with underlying pre-tax earnings of €169.4m (£145.28m), up by €196.5m year-on-year. Third quarter group revenues surged 19 per cent on the prior year to €5.3bn (£4.55bn) which the company said was driven [...]
TP Icap share price surges after announcing £30m share buyback August 9, 2023 FTSE 250 finance firm TP Icap’s share price surged after it announced a share buyback programme and upped its dividend. The interdealer broker announced a £30m share buyback programme and increased its dividend by seven per cent to 4.8p. The payouts came as pretax profit climbed to £91m from £72m last year thanks to a [...]
Flutter: Paddy Power and Betfair owner to list in the US after reaching profitability August 9, 2023 Flutter Entertainment, owner of betting giants including Betfair and Paddy Power, is preparing to list in the US as early as this year. The firm made the announcement as US and UK punters help drive its revenue up 38 per cent for the first half of 2023. Shares dropped over 3.5 per cent when the [...]
Bellway ‘taking steps to reduce headcount’ as rate hikes continue mortgage slowdown August 9, 2023 British housebuilder Bellway’s underlying operating margin will contract from 18.5 per cent to 16 per cent as mortgage rates continue to slow down demand in the sector. The home construction company completed the build of 10,945 homes in the year ended 31 July falling from 11,198 in the same period last year. As the central [...]
Former Britishvolt boss slams government’s EV strategy as takeover bid stalls August 9, 2023 The government lacks “innovative thinking” and a “joined up industrial strategy” to support the UK’s electric vehicle industry.
A damp start for EMEA M&A, but bright spots emerging for dealmakers August 8, 2023 | City Talk The EMEA M&A market is being impacted by market pressures. High inflation, dampening economic demand, and the ongoing Russia-Ukraine war mean that dealmakers are operating in a period of uncertainty. What does this mean for dealmakers? A material impact on M&A activity in the region. Challenges persist for dealmakers Per Mergermarket data, the aggregate value [...]
UK competitiveness as base for big airlines key to unlocking £111bn by 2050, report says August 8, 2023 The UK could benefit to the tune of £111bn and create over 629,000 local jobs by 2050 if it stays competitive as a hub for airlines to be based. Transport consultancy Steer’s report, commissioned by industry body Airlines UK, said propping up British-based carriers boosts local employment and supply chains, whilst financing public services through [...]
Shapps warns fuel retailers he will ‘call out any foot-dragging’ on price transparency August 8, 2023 Energy Secretary Grant Shapps has warned fuel retailers he will “call out any foot-dragging” over the sharing of pump price data. He made the comment as drivers were hit by the largest weekly rise in petrol prices for more than a year. The Competition and Markets Authority (CMA) is planning to launch an interim voluntary [...]