Fund managers call for FCA blockchain taskforce in plans for ‘Investment Fund 3.0’ July 7, 2022 The UK’s top investment body called on government and regulators to harness the benefit of cryptocurrencies and decentralised finance today, as it claimed the industry was on the cusp of a “major technological transformation”.
‘Covid-19 cliff edge’: Lateral flow test maker suffers major blow to revenue July 7, 2022 Clinical diagnostics specialist Novacyt has suffered a major blow to its revenue, as the feared ‘Covid-19 cliff edge’ comes into focus “faster than expected”. The London-listed company, which provides lateral flow tests, has seen its revenue crumble more than 70 per cent to £16.5m in the first half of this year, compared to £52.2m a year [...]
BA check-in staff at Heathrow call off strike following salary increase July 7, 2022 Union members working as British Airways (BA) check-in staff have suspended a planned strike action at Heathrow following a salary increase. Unite said that, after extensive negotiations, BA made a “vastly improved pay offer.” The proposal will now be submitted to workers who are expected to vote on whether to accept it. “We welcome that [...]
Stansted’s owner MAG posts £320m loss due to travel restrictions July 7, 2022 Stansted Airport’s owner MAG has posted an annual loss of £320m due to a pandemic-induced slump in passenger numbers. MAG has posted a combined loss of £694m for the last two years. The group – which also owns Manchester and East Midlands airports – reported today that 20.5 million passengers passed through its hubs’ gates [...]
PwC partners set to receive record payouts of more than £1m this year July 7, 2022 Partners at PwC are set to earn more than £1m each for the first time ever this year, after an “exceptional” trading period boosted the accountancy firm’s profits. The accounting firm has told partners that their £920,000 profit-per-partner pay packages will be bolstered by £100,000 windfalls from the sale of PwC’s global mobility services business, [...]
Industry toasts record renewables auction as UK scrambles to boost domestic energy supplies July 7, 2022 Record levels of clean energy have been secured through the Government's largest ever funding round for its renewables auction.
Online gambling slows for Ladbrokes owner Entain as lockdown buzz fades and government review looms July 7, 2022 Online net gaming revenue dipped seven per cent Ladbrokes owner Entain as the gambling titan struggles to recapture lockdown momentum. A weaker macro-economic environment is also reducing customers’ rate of spend during the first half of the year, moderating overall online growth versus previous expectations. The closure of the Netherlands ahead of licencing has further [...]
Cadbury’s allowed to register iconic purple colour trade mark in High Court ruling July 7, 2022 Cadbury’s has been allowed to register a trademark for the particular purple colour used on its chocolate bar wrappers, after a High Court ruling this week. Lawyers representing Cadbury, Charles Russell Speechlys, said Cadbury’s would now be able to register the colour (Pantone 2685C). The confectionery giant has been attempting to register the colour for [...]
Legal & General notches ‘double digit’ cash and capital growth in 2022 July 7, 2022 Mortgage and pension provider Legal & General said today it has seen “double digit” growth in cash and capital generation for the first half of the year, after a strong performance across its divisions.
Boris Johnson set to resign as UK Prime Minister July 7, 2022 Boris Johnson has agreed to resign as UK Prime Minister, after a sensational 48 hours which saw his government implode. The BBC and Mirror reported just after 9am today that he will quit as leader of the Conservative party and will stay on as caretaker Prime Minister until a new party leader is chosen. A [...]