Revenue climbs for Greencore despite supply chain challenges and inflationary pressure July 26, 2022 Irish food firm Greencore reported a revenue increase of 35 per cent to £486.2m the third quarter, thanks to continued strong growth in both food to go and other convenience categories.
Watchdog dismisses concerns that music streaming causes harm to artists and backs consumer choice July 26, 2022 The UK competition watchdog has found that music streaming delivers good outcomes for consumers and dismisses concerns that the concentrated market is causing harm or driving the issues raised by artists.
Unilever boosts sales growth guidance and suggests not the end of price hikes July 26, 2022 Consumer goods giant Unilever has seen sales propelled more than eight per cent after hiking prices of food and drink to mitigate cost increases. Underlying sales growth of 8.1 per cent was “driven by strong pricing to mitigate input cost inflation, which, as expected, had some impact on volume,” Alan Jope, chief executive officer said [...]
Daily Express owner Reach feels sting of surging newsprint costs and advertising disruption July 26, 2022 Shares plunged as much as 30 per cent this afternoon for Daily Express and Mirror owner Reach after it posted an inflationary battered set of results.
Travel disruption gives easyJet £130m loss but flights filling up for next quarter July 26, 2022 Travel disruption due to short-staffing led to easyJet suffering a £130m loss in the three months ending in June. The low-cost airline had a pre-tax loss of £114m due to the impact of cancellations, but its earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) was a profit of more than £100m. [...]
Westminster committee sticks the boot into Ofgem as households suffer record energy bills July 26, 2022 MPs have raised doubts over Ofgem’s ability to clean up the energy market, following mass carnage which saw over 30 suppliers collapse.
City Moves: Who’s switching jobs in the Square Mile? July 26, 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. Irwin Mitchell Legal services firm Irwin Mitchell has bolstered its London office with a new intellectual property (IP) partner. Joining from White & Case, Marcus Collins has previously focused on international brand protection, trademark prosecution and IP [...]
Consumer Duty set to deliver ‘biggest regulatory overhaul in a decade’ for financial services July 26, 2022 City firms are braced for one of the biggest shake ups of UK financial services regulation in a decade this week as the UK’s top watchdog unveils its new Consumer Duty to ramp up protection of savers and retail investors.
Amazon says inflation and operating costs force e-com giant to hike price of Prime subscription for UK customers July 26, 2022 Amazon has confirmed it plans to hike the price of its Prime delivery and streaming service due to “increased inflation and operating costs”. The technology giant offers free unlimited delivery, entertainment streaming and live sport through the Prime service. It said it will increase the price of Prime from £7.99 each month to £8.99 from [...]
Union accuses Grant Shapps of blocking strike talks July 25, 2022 Transport secretary Grant Shapps was accused of blocking the negotiations between rail operators and unions that could end the ongoing strikes. The Trades Union Congress (TUC) called on Shapps to “stop prolonging the rail dispute” which has threatened to bring the country to a standstill. “Transport secretary Grant Shapps is giving secret instructions to rail [...]