Revenue soars for fintech Wise thanks to price drop October 19, 2021 Money transfer company Wise has reported a 25 per cent jump in revenue for the second quarter, compared to the same period last year. In a trading update on Tuesday, the payment firm posted revenue of £132.8m in the second quarter. Lower prices had enticed new customers, Wise said. Just under 4m customers transacted via [...]
Betting firm 888 revenue jumps thanks to market expansion October 19, 2021 Online betting and gaming giant 888 Holdings said its group revenue rose in the third quarter, hitting $229.9m, thanks to its expansion. Revenue increased seven per cent to $229.9m (£166.9m) in the three month period ending September 30. In the same period last year, revenue hit $215.6m (£156.53m). Casinos led strong performance in the group’s [...]
Markets today: Europe set for a modest rebound as Asia markets bounce back October 19, 2021 Not a particularly great start to a new week yesterday for markets in Europe, but having just come off the back of three days of strong gains at the end of last week, markets were probably overdue a bit of a pullback. The big question for CMC chief market Michael Hewson, chief market analyst at [...]
Fiscal watchdog to hike growth forecasts to highest on record at budget October 19, 2021 The government’s independent fiscal watchdog will make the biggest ever upgrade to the UK’s economic growth rate at the budget next Wednesday. The Office for Budget Responsibility (OBR) will hike its forecasts for the British economy’s annual expansion rate to 7.5 per cent, according to the economic think tank the Resolution Foundation. This would be [...]
Tesco opens new check-out free store October 19, 2021 Tesco has launched GetGo, its first checkout-free store in central London. The new store trial will allow customers to shop and pay without scanning a product or using a checkout. It is rolling out the technology to Tesco Express High Holborn. Customers with the Tesco.com app will now be able to check-in, pick up their groceries walk straight [...]
Caffé Nero to expand coffee shop network as it nears pre-Covid sales October 18, 2021 Caffe Nero is set to expand its network of coffee shops with “dozens” of new stores over the next year, as its sales climb towards pre-pandemic levels. The café chain has been making headway with its post-Covid-19 recovery, hailing it being cash positive for the past 11 months in its latest trading update. Nero sales [...]
Nord Stream 2 fills pipeline with gas ahead of regulatory approval October 18, 2021 Nord Stream 2 has been filled with “technical gas” while awaiting clearance from Germany’s regulator. The pipeline’s Swiss operator Nord Stream 2 AG has filled the first of the project’s two lines with 177 million cubic metres of gas in order to maintain pressure in the pipeline for future exports. The newly constructed 764-mile pipeline [...]
Bank of England to hike rates in just over two weeks October 18, 2021 The Bank of England will scale back the wave of stimulus it unleashed in response to the Covid-19 crisis in just over two weeks. That’s the warning from two leading international banks, who both ratcheted up their expectations for the first rate hike in over three years today. Wall Street giant Goldman Sachs brought forward [...]
Bank of England to hike rates in just over two weeks, warn top international banks October 18, 2021 The Bank of England will scale back the wave of stimulus it unleashed in response to the Covid-19 crisis in just over two weeks. That’s the warning from two leading international banks, who both ratcheted up their expectations for the first rate hike in over three years today. Wall Street giant Goldman Sachs brought forward [...]
Weakening Chinese economy weighs on London markets October 18, 2021 A weakening Chinese economy weighed on London markets this morning as investor sentiment soured on concerns the global supply chain crisis will last longer than expected. The capital’s premier FTSE 100 edged down 0.12 per cent to 7,226.20 points during the opening session. China’s economy was dragged down by energy shortages, soaring commodity prices and [...]