Virgin Money owner CYBG share price falls as it warns of softer full-year margins July 30, 2019 Shares in CYBG are down over 11.5 per cent this morning after the challenger bank warned that net interest margins (NIM) were likely to be at the lower end of its forecast. Read more: CYBG to rebrand as Virgin Money to ‘disrupt status quo’ of UK banking The group, which owns Virgin Money, stood by [...]
Games Workshop posts best ever results July 30, 2019 Games Workshop posted record-breaking results for the third consecutive year this morning after seeing revenue and profits soar. The figures Revenue in the 12 months to 2 June this year was £256.5m, up from £221.3m last year. Profit before tax was £81.32m, rising from £74.2m the previous year. The games retailer reported that earnings per [...]
Silver miner Fresnillo’s shares slide as profit plunges July 30, 2019 Profit at FTSE 100 miner Fresnillo tumbled by more than two-thirds in the first half of the year, it said today. The company blamed production problems and lower prices for the precipitous fall. Profit for the six months to 30 June fell 69 per cent compared to the same period last year to $70.9m (£58.2m). [...]
On a roll: Greggs boosts sales and profits July 30, 2019 Bakery chain Greggs said today that its sales for the first half were up 14 per cent on the previous year. Sales hit £546m in the six months to 29 June which Greggs said was helped by the popularity of its vegan sausage roll. Underlying pre-tax profit margin rose to 7.5 per cent from 5.4 [...]
Investors digest Beyond Meat’s share offer as stock dives July 29, 2019 The shine came off Beyond Meat’s blockbuster summer debut on Wall Street this evening, as its stock plunged after the plant-based burger group revealed plans to sell more shares. The food group’s stock dived more than 10 per cent in after-hours trading as investors digested the announcement of a secondary share offering which will dilute the value of current shareholders’ [...]
Sadiq Khan urges Boris Johnson to drop £30,000 immigrant salary threshold July 29, 2019 Sadiq Khan has urged the government to drop its proposed £30,000 salary threshold for skilled immigrants, saying it will have a damaging effect on Britain’s post-Brexit economy. The mayor of London urged the new Prime Minister, Boris Johnson, to “fully recognise the positive impact immigration and freedom of movement has had in London and the [...]
Downing Street drops inquiry into Mark Field over clash with Greenpeace activist July 29, 2019 Downing Street has dropped an investigation into former foreign minister Mark Field over his behaviour at a Mansion House banquet last month. Number 10 said it was no longer conducting an inquiry into Tory MP Mark Field, who is no longer in the government following Boris Johnson’s cabinet overhaul. Read more: Foreign Office minister Mark [...]
Dislike: EU warns websites they’re responsible for data leaked via Facebook’s like button July 29, 2019 Third-party websites are now jointly responsible for processing people’s data if they embed Facebook’s so-called like button, the EU’s foremost court ruled today. The European Court of Justice’s ruling means websites must now either gain people’s approval for this activity or prove they have a legal basis for processing this data. Read more: France, US [...]
Don’t underestimate Boris Johnson, PM’s adviser tells Brussels July 29, 2019 Boris Johnson’s EU adviser has urged Brussels not to “underestimate” the new Prime Minister as he repeated the government’s pledge to leave the bloc on 31 October. David Frost, a former adviser to Johnson while he was foreign secretary, said many people were “inclined” to underestimate Johnson but that doing so would be a mistake. [...]
Neil Woodford’s flagship fund to stay frozen until December July 29, 2019 Beleaguered fund manager Neil Woodford has apologised to investors after the announcement that his flagship Equity Income Fund will remain suspended until at least December. “I understand the frustration, inconvenience and anxiety the continued suspension of the fund will be causing you and I am extremely sorry for putting you in this situation,” Woodford said [...]