Tech Nation bought by Brent Hoberman’s Founders Forum April 25, 2023 Start-up quango Tech Nation has confirmed the sale of its brand to Brent Hoberman’s Founders Forum today for an unknown fee. The start-up network, which was launched in 2011 under David Cameron’s coalition government, announced in January that it would shut its doors after ministers controversially pulled its funding and handed it to high street [...]
Whitbread pockets £2.6bn revenue: Premier Inn owner’s shares soar five per cent despite ‘most challenging’ period April 25, 2023 Whitbread said its earnings returned to pre-pandemic levels with the Premier Inn owner’s bottom line boosted by Brits embracing more leisure and travel. Whitbread, which also owns restaurants Beefeater and Bar+Block, reported revenues of £2.6bn for the year to March 2023, up 54 per cent from £1.7bn the previous year. Whitbread (WTB) shares soared nearly [...]
Primark owner claims fast fashion still a draw as cost of living crisis boosts sales April 25, 2023 Primark owner Associated British Foods (ABF) has reported a slight dip in its adjusted operating profit as the retail and grocery giant felt the pain of soaring inflation and a tough economic climate. For the 24 weeks to 4 March, the group’s adjusted operating profit came in three per cent lower at £684m, compared to [...]
60 Uber Eats and Deliveroo drivers arrested amid Home Office ‘crackdown’ on illegal working April 24, 2023 Some 60 fast food delivery drivers have been arrested across London as the Home Office cracks down on alleged illegal working. Gig workers employed through Deliveroo, Uber Eats and Just Eat were arrested between 16-21 April following a “week long crackdown” on illegal workers led by the Home Office. Following the arrests, the department said [...]
Only five UK retailers issued profit warnings in first leg of 2023, but experts warn of challenges April 24, 2023 Only five UK retailers raised concerns about their profits in the first leg of 2023. However, the sector has warned that challenges remain for shops and the high street. According to data by accountancy firm EY, the number of profit warnings issued by retailers fell by 44 per cent in quarter one compared to the [...]
Household bills should reflect lower costs of renewables sooner, Ovo boss tells government April 24, 2023 Ovo Energy has urged the government to speed up plans to separate electricity prices from gas prices to drive down bills.
Revolut shareholder slashes firm’s value by nearly half as investors sour on tech April 24, 2023 Revolut’s value has plunged by nearly half over the past year according to one of its shareholders, as investors reconsider the hefty price tags attached to tech and fintech firms during a 2021 funding frenzy. Schroders Global Innovation Trust, a long-time Revolut investor, revealed in a regulatory filing last week that it had written down [...]
THG shares soar 10 per cent as investors cheer the appointment of BAT’s Farr April 24, 2023 Shares in THG soared 10 per cent after the beleaguered e-commerce platform drafted in a director of British American Tobacco to help take it private. Sue Farr, the senior independent director (SID) of BAT sits on the board of a number of FTSE 100 companies including used car dealership Lookers and real estate company Helical. [...]
BP: Activist investor urges toughening up of climate agenda – as pressure builds on energy giant’s chair April 24, 2023 Follow This has urged investors to back its proposals to toughen BP's climate agenda amid intense pressure on its chairman Helge Lund.
Investors look for new consolidation levels as crypto ‘Fear and Greed’ index hovers in Neutral April 24, 2023 Bitcoin, the flagship cryptocurrency, is trading below $28,000 while the price of Ethereum sits just above $1,800 this morning.