Tough markets offset growth in Hargreaves Lansdown’s business August 5, 2022 Hargreaves Lansdown today said “difficult” market conditions in the first half of 2022 have halted its growth trajectory in causing the value of the assets administers to drop 9 per cent to £123.8bn. The Bristol headquartered company said major downturns in the FTSE, Nasdaq, and S&P 500 offset £5.5bn worth of new business in [...]
Advertising titan WPP lifts net sales forecast August 5, 2022 The world’s biggest advertising group, WPP, has hiked its full-year net sales outlook, anticipating buoyant spending by clients. The London-listed firm said it now anticipates net sales to grow six to seven per cent in 2022, on a like for like basis. This was an adjustment upwards from a previous forecast of 5.5-6.5 per cent. [...]
Today: Hosepipe ban takes effect as another heatwave is knocking on Britain’s door August 5, 2022 Parched parts of England are facing a hosepipe ban amid very dry conditions and ahead of another predicted heatwave. Southern Water announced the move from Friday for customers in Hampshire and on the Isle of Wight, while the measure will follow in exactly a week for South East Water customers in Kent and Sussex. Months [...]
Starmer in breach of MPs code of conduct by not declaring gifts and land sale August 5, 2022 Sir Keir Starmer has been found to have breached the MPs’ code of conduct by failing to register on time eight interests, including gifts from football teams and the sale of a plot of land. An inquiry into the Labour leader was opened in June by the Parliamentary Standards Commissioner, relating to claims about late [...]
Norton Rose Fulbright hikes NQ salaries after upping pay for rank-and-file staff August 4, 2022 City law firm Norton Rose Fulbright today said it would hand out up to 10 per cent pay rises to its rank-and-file staff after the firm upped pay for its newly-qualified lawyers to heights of £105,000 a year. The law firm today said it would give out pay rises of at least 5 per cent [...]
Satellite duo in reported merge talks amid wave of sector consolidation August 4, 2022 A pair of US and Luxembourg-based satellite giants are reportedly in talks to merge, as the increasingly scrutinised sector undergoes a wave of consolidation. SES and stateside group Intelsat are in discussions, the Financial Times first reported yesterday. People familiar with the matter stressed that talks are still in their early stages. It follows UK [...]
UK ahead of EV adoption curve but charging accessibility lags behind August 4, 2022 The UK is currently ahead of the Climate Change Committee’s electric vehicle (EV) adoption curve by more than 100,000 cars. According to figures by Volkswagen Financial Services UK, there were 833,000 EVs in the UK as of March – up 71 per cent on last year’s levels. At the same time, registrations of battery-electric vehicles [...]
Brace for another financial crisis style recession, Bank of England warns August 4, 2022 The UK is set to slump into a recession comparable to the financial crisis, driven by the biggest inflation surge in 42 years, the Bank of England warned today. Britain’s economy will shift into reverse in the final three months of this year and stay there until the final months of next year, placing it [...]
Alibaba posts flat revenue growth after ‘relatively slow’ spring August 4, 2022 E-commerce group Alibaba has posted flat revenue growth for the first time. The Hong-Kong based firm said sales in Chinese commerce dropped one per cent compared to the past year while revenue from its cloud business saw revenue up 16 per cent. The group’s revenue hit 205.56bn yuan ($30bn) in the April to June period, [...]
Dealmakers circle British firms as UK tops inward investment August 4, 2022 International dealmakers have set their sights on British firms this year with the UK now the top target in Europe for inbound and domestic investment, research today reveals.