Coca-Cola Europacific Partners’ profit up after Amatil acquisition February 16, 2022 Coca-Cola Europacific Partners (CCEP) has reported fizzing pretax profit, at €1.38bn, compared to €695m the previous year. Chiefs at the bottling company remarked on an “extraordinary” year in preliminary unaudited results for the full year ended 31 December 2021. The London-listed firm said it would revert to two interim dividends this year, posting a dividend [...]
Heathrow chief says fares row no good for either side of debate February 16, 2022 DESPITE a very public feud between airlines and Heathrow over the airport’s passenger fees, the airport’s boss has told City A.M. that co-operation will see both sides come out stronger. “The best way through this actually is to work with airlines to recover as fast as we can,” John Holland-Kaye said. The airport and carriers [...]
Boohoo images banned by advertising watchdog for ‘objectifying women’ February 16, 2022 Fashion retailer Boohoo has had an advert banned for being likely to cause serious or widespread offence or harm by objectifying women. A complaint was submitted to the The Advertising Standards Authority (ASA), claiming that the model’s poses objectified and sexualised women. The complaint said the ad was offensive, harmful and irresponsible. Boohoo said the [...]
Office return: Businesses treating teams as lunch delivery orders skyrocket February 16, 2022 The rush back to the office is in full swing with an uptick in companies ordering lunch for workers via delivery apps last month. Many firms nudged staff to come back into the office last month for the first time since the pandemic struck. Benevolent bosses even seem to be attempting to lure workers back [...]
Champagne toasts record year thanks to post-pandemic buzz and US sparkle February 14, 2022 Champagne sales reached an all-time high last year, thanks to the post-pandemic boom and a United States surge. While French producers already said last year they expected a sales record, they now confirmed 2021 sales hit $5.7bn (£4.2bn), 14 per cent above the pre-pandemic high. Exports reached 180 million 0.75 litre bottles, up 37 per [...]
City Lights: Interactive light and sound installations light up Square Mile February 14, 2022 This week the City of London’s historic streets and iconic buildings can be seen in a dramatic new light through a Square Mile-wide series of innovative and interactive sound and light installations, City A.M. was told today. City Lights, a new instalment in the Mayor of London’s ‘Let’s Do London’ programme, offers visitors a free [...]
Central London footfall growth behind other regional cities February 14, 2022 Central London footfall has lagged behind the recovery of other regional cities last week. According to the latest data from Springboard, footfall rose in all types of town centres in the UK last week. However, while regional cities outside of London saw the largest boost, up 7.1 per cent, Central London growth was only 3.3 [...]
Studio Retail Group preparing to call in administrators in blow for largest shareholder Mike Ashley’s Fraser Group February 14, 2022 Online value retailer Studio Retail Group, whose largest shareholder is Mike Ashley’s Frasers Group, is posed to call in administrators. The Accrington-based firm said it had not been able to reach agreement with its UK lenders for additional funding it needed. Studio Retail had requested a short-term loan of £25m to fund surplus stockholding which [...]
Financial watchdog pushes through changes to “unfair and unclear” buy-now pay-later contracts February 14, 2022 The Financial Conduct Authority has pushed through changes to potentially “unfair and unclear” terms in the contracts major buy-now pay-later (BNPL) as the government prepares for a regulatory clampdown on the sector this year.
Blackstone takes £4.7bn bet on troubled Australian gambling group February 14, 2022 Blackstone has taken a £4.7bn bet on troubled Australian gambling group Crown Resorts. The resort group has faced regulatory scrutiny after official investigated revealed it had knowingly dealt with criminal organisations and then misled authorities about it. The US private equity giant already owned 10 per cent of the company, but has now snapped up [...]