Pearson shares surge after jump in sales October 24, 2022 Publishing group Pearson said underlying sales had jumped seven per cent in the past quarter as it doubled down on profits expectations for the year.
Terra Firma boss says UK may need bailout from IMF and now ‘sick man of Europe’ due to Brexit deal October 24, 2022 A leading investment chief has predicted the UK may need a bailout from the IMF and is now the “sick man of Europe” because of the way Brexit was negotiated. Guy Hands, founder of private equity firm Terra Firma, said the UK’s investment landscape was bleak and the Conservatives “not” fit to run the country. [...]
Frasers Group increases Hugo Boss stake to £840m October 24, 2022 Frasers Group revealed it had snapped up a further chunk of shares from fashion firm Hugo Boss today taking its stake in the firm to £840m.
Brits cutting spending sends profit warnings soaring October 24, 2022 Brits cutting spending in response to the cost of living crunch has driven a sharp uptick in the number of businesses warning profits will fall short of expectations, a new report out today shows. Some 86 listed companies issued a profit warning in the three months to September, up from 51 over the same period [...]
Renewable revenue cap risks supply security and higher energy bills October 24, 2022 A cap on low carbon generator revenues jeopardises supply security and condemns customers to high energy bills, warns Energy UK.
UK’s data watchdog warns against ‘complacency’ after fining Interserve £4.4m over cybersecurity breach October 24, 2022 The head of the UK’s data watchdog has vowed to fine firms falling short on cybersecurity after warning “complacency” within companies is the “biggest cyber risk businesses face”. The warnings come after the UK’s Information Commissioner’s Office (ICO) today fined British construction firm Interserve £4.4m over its failure to protect its employees’ data from cyberattacks. [...]
MPs call for crackdown on advisors enabling tax avoidance schemes October 24, 2022 A group of cross-party MPs have called on the UK government to begin cracking down on the accountants and financial advisors that facilitate tax avoidance schemes. In a new report, the all-party parliamentary group (APPG) on anti-corruption and responsible tax called for the UK’s tax system to be overhauled, to boost growth, increase tax revenues, [...]
Boris Johnson quits leadership battle leaving path clear for favourite Sunak October 23, 2022 BORIS JOHNSON has sensationally ruled himself out of the running to become Conservative party leader, making Rishi Sunak the odds-on favourite to become the country’s next Prime Minister. Johnson claimed he had secured the backing of more than 100 MPs – the threshold needed to get on the ballot to become Liz Truss’ replacement – [...]
Glencore faces probe over alleged payment to Zambian political party October 23, 2022 Zambia’s Anti-Corruption Commission (ACC) has launched an investigation in connection with a matter relating to an alleged $3m (£2.65m) payment made by commodities giant Glencore to a political party in the southern African country. In a statement, the Zambian corruption watchdog said the investigation is centred on the circumstances under which Glencore allegedly paid the [...]
Don’t back Ukraine on Twitter if you can’t face blackouts, says City grandee October 23, 2022 Brits should ditch their social media support for Ukraine if they are unwilling to face blackouts this winter, warned Lord Adair Turner.