DeepVerge overhauls leadership team as it hunts for emergency cash October 25, 2022 Listed life sciences firm Deepverge announced it would completely refresh its leadership team today as it scrambles to raise emergency cash.
Govt drags feet with new digital markets bill October 25, 2022 A new report by MPs on the Business, Energy and Industrial Strategy Committee has called on the Government to push forward with a draft Digital Markets Bill that would allow regulators to take a more proactive approach to curbing big tech dominance. The bill would enshrine the Competition and Markets Authority’s (CMA) Digital Markets Unit (DMU) [...]
Happening today: Truss’ last cabinet meeting, Sunak to meet King Charles and form cabinet October 25, 2022 This morning Liz Truss will hold her final cabinet meeting as Prime Minister before Rishi Sunak meets King Charles and starts to form his cabinet. Sunak will become the youngest prime minister in more than 200-years, after being appointed Tory leader yesterday following rival Penny Mordaunt dropping out of the race. The outgoing PM will [...]
Premier Inn owner Whitbread swings to profit but warns of £60m inflation bill October 25, 2022 Premier Inn owner Whitbread is back in the black after posting a £307.4m profit before tax, in better than expected first half results. The interim results marked better fortunes for the hospitality operator, which last year posted a 19.3m loss. However, the firm said it had not seen its pub business return to pre-pandemic levels [...]
Brits take 5* holidays as On The Beach bounces back from Covid in second-half of 2022 October 25, 2022 Travel retailer On The Beach reported its sales were up from pre-pandemic levels despite external shocks such as the war in Ukraine and economic turmoil. The medium and short haul specialists said its second-half sales were 25 per cent up on 2019 and 16 per cent up on the year as a whole. It also [...]
Range of 30 low-cost items increase in price by 17 per cent in last year – ONS October 25, 2022 A range of 30 every-day low-cost items have increased in price by 17 per cent in the last year, new figures have revealed. Data from the Office for National Statistics show a range of products went up considerably over the 12 months to September, as the cost of living continues to bite. Items including vegetable [...]
City Moves: Who’s switching jobs in the Square Mile? October 25, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Danske Bank Dankse Bank has promoted a current senior independent director on the board as chairman to replace Gerald Gregory, who will leave the bank after nine years. Martin Stewart will take up the role at the [...]
Watchdog eyes Big Tech push into UK financial services sector October 25, 2022 The presence of Big Tech in the UK’s financial services market has caught the eyes of the regulator. The Financial Conduct Authority (FCA) is seeking views on the possible competition harms and benefits of the Big Tech push into financial services sectors and the infrastructure on which it is based. Sheldon Mills, executive director of [...]
Immersive Gamebox inks £80m worth of franchise deals as ex-PizzaHut chief steps in October 25, 2022 London gaming platform group Immersive Gamebox has inked nearly £80m worth of franchise deals over the next three years. The deals will see the company, which has bases in London Southbank and Wandsworth, expand to more than 250 locations. The company has recently appointed a new chief operating officer, former Pizza Hut and BrewDog executive [...]
Beauty parade? Dyson to invest half a billion in expanding grooming offering October 25, 2022 Engineering giant Dyson is set to invest half a billion into expanding its range of beauty products, as the technology and beauty industries converge. The British company’s Airwrap hairstyler, which has graced the beauty tables of most internet influencers, has been a best-seller for several years now. And has prompted popular ‘dupes’ from the likes of Revolution [...]