Boots hikes profit forecasts as pharmacy sales offset high street slump March 31, 2021 The US owner of Boots today hiked its profit forecasts for the full year as higher pharmacy sales helped offset lower footfall during lockdown. Walgreen Boots Alliance posted an 8.4 per cent increase in profit to $1bn (£725m) in the second quarter, driven by a rise in comparable pharmacy sales in the US. Revenue for [...]
KPMG UK nominates audit head Jon Holt for chief executive role March 31, 2021 The board of KPMG UK has nominated Jon Holt for the role of chief executive, following the resignation of Bill Michael last month. Holt is currently KPMG UK’s head of audit, where he oversees 7,000 people, and chair of the firm’s executive committee for audit. Prior to that, he was KPMG UK’s head of financial [...]
Mastercard among five companies fined after engaging in ‘cartel behaviour’ March 31, 2021 Mastercard, along with four other companies, allegedly engaged in anti-competitive behaviour when offering pre-paid cards to vulnerable people. Mastercard, allpay, APS, PFS and Sulion engaged in anti-competitive behaviour by agreeing not to compete or poach each other’s clients, the Payment Systems Regulated (PSM) has said. As a result of the alleged collusion, the PSR said, [...]
UK tells G7 that it’s time to ‘get tough with China’ on trade March 31, 2021 The UK’s global partners need to “get tough with China” on its unfair trading practices, according to international trade secretary Liz Truss. Truss has called for the World Trade Organisation (WTO) to be reformed and for China to stop designating as a developing country within the body, which means it benefits from looser rules on [...]
Malta to welcome vaccinated Brits from June March 31, 2021 Malta has become the latest country to announce that it will welcome the return of British holidaymakers this summer. The Mediterranean island, which usually attracts around 500,000 tourists from the UK each year, said British travellers who have had both doses of a coronavirus vaccine will be allowed to enter from 1 June. Passengers will [...]
City Moves: Who is switching jobs in the Square Mile this week? March 31, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Covatic appoints ex-BBC strategy head London-based start-up tech company Covatic has hired an ex-BBC veteran as its chief product officer. Daniel Pike joins the company, which aims to improve in-app consumer engagement, at [...]
TED climate summit to take place in Edinburgh ahead of COP26 March 31, 2021 Politicians and scientists from around the world will gather in Edinburgh later this year for a four-day TED summit to discuss solutions to climate change. The Countdown Summit aims to build a better future by cutting greenhouse gas emissions in half by 2030 and work towards reaching net-zero by 2050. TED and Future Stewards launched [...]
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Was the Duchess of Cambridge ‘working’ when she visited the Sarah Everard vigil? March 31, 2021 The UK’s most senior police officer has suggested the visit by the Duchess of Cambridge to the Sarah Everard vigil was legal because she was working, even though the trip was private and not an official engagement. Metropolitan Police Commissioner Dame Cressida Dick told BBC Radio 4’s Today programme today that it was possible under [...]
Exclusive: FCA continues hiring spree with former Blackstone and Treasury man March 31, 2021 The City regulator has added another big name to its senior team with the hire of former Blackstone and HM Treasury man Ramesh Chhabra. Chhabra will serve as FCA boss Nikhil Rathi’s Senior Adviser. It is the latest in a series of senior appointments made by Rathi as he seeks to put the body on [...]