Wood Group shares climb on expectation of higher annual earnings January 16, 2020 Shares in John Wood Group have risen after the oilfield services provider said it expects higher core earnings for 2019, with a strong performance from its engineering services unit offsetting slowing onshore drilling demand in the US. In an update to the stock exchange on Thursday, the firm said it expects adjusted earnings before interest, [...]
Premier Inn owner Whitbread sales drop in uncertain market January 16, 2020 Premier Inn owner Whitbread reported this morning that like-for-like sales fell in the third quarter as business uncertainty impacted travel plans. Shares dropped more than five per cent after the company said like-for-like sales dipped 1.3 per cent in the third quarter, dragged down by a 2.1 per cent drop in accommodation sales. Like-for-like food [...]
Primark UK store sales dip as retailer outlines expansion plans January 16, 2020 Primark’s like-for-like UK in-store sales dipped over the Christmas trading period, the budget retailer announced this morning. The high street chain’s owner Associated British Foods (ABF) said today that there was a “marginal decline” in like-for-like UK sales in the 16 weeks to 4 January. However, the impact of extra store space boosted total UK [...]
The Works CEO steps down following string of profit warnings January 16, 2020 The Works chief executive Kevin Keaney has stepped down after nine years, two months after the discount art retailer issued its second profit warning of 2019. The company’s share price jumped 11 per cent this morning after it announced that finance chief Gavin Peck will replace Keaney, as it issued an update on the Christamas [...]
N Brown warns on profit in ‘highly promotional market’ January 16, 2020 Simply Be owner N Brown has slashed its profit expectations, blaming lower revenue from its credit lending service and a “highly promotional market”. Shares in the plus-size fashion retailer plummeted more than 24 per cent today after it said full-year adjusted profit before tax will be in the range of £70m to £72m, down from [...]
City Hall’s 300 per cent rise in office spending under Sadiq Khan queried January 16, 2020 A threefold increase in City Hall office spending under Sadiq Khan has come under question, with one London Assembly member suggesting it could be “uncontrolled”. The assembly’s Budget Committee today released its first response to the mayor’s 2020-21 budget, which details £17bn of public expenditure. Read more: Sadiq Khan has increased press office spending by [...]
Hyundai and Kia inject €100m in London electric vehicle scaleup January 16, 2020 Car making giants Hyundai and Kia will today reveal a €100m (£85.6m) in London-headquartered electric vehicle firm Arrival. The move will mark the beginning of a strategic partnership between the trio which will see Hyundai and Kia use the scaleup’s technology to develop mobility solutions and electrify their vehicles. Arrival, which has more than 800 [...]
How to use the Gender Maths formula to retain and attract top female talent January 16, 2020 A significant challenge facing financial services is how to retain the talent that we have grown or recruited. With more transparency around gender pay gap reporting and targets for achieving greater gender balance at all levels of seniority, firms are under increasing pressure to identify, hire, and retain top female talent. It is a virtuous [...]
DEBATE: Was the government right to bail out Flybe? January 16, 2020 Was the government right to bail out Flybe? Rob Burgess, editor of the UK’s biggest frequent flyer website headforpoints.com, says YES. Sitting in London, it is easy to think that Flybe should be allowed to fail. Sit in the departure hall at Exeter Airport, or Southampton, or one of the other regional hubs where Flybe [...]
Donald Trump proved the doubters wrong and got it right on Iran with Qassem Soleimani January 16, 2020 When the Middle East crisis broke at the start of this year, many outcomes were predicted by a panicked commentariat in response to the US drone strike on Iran’s terrorist-in-chief, Qassem Soleimani. The various theories peddled by such observers fell into two broad camps: that war would inevitably result, or that the west would suffer [...]