The Brexit clock is ticking down again, and City businesses are crying out for certainty August 5, 2019 With the excitement of a new Prime Minister and so many changing faces across government, it is easy to overlook that we are now less than three months away from the next Brexit cliff edge. In other words, the risk of a no-deal Brexit is drawing dangerously close. And businesses need to prepare for that. [...]
UK public companies post worst performance in three years in second quarter August 5, 2019 UK companies posted the weakest set of results in three years in the second quarter of 2019. Analysis from the Share Centre shows revenues for UK public companies increased 1.6 per cent in the second quarter. Profits rose 3.1 per cent, driven by the top 40 multinationals which performed strongly. Read more: FTSE 100 sinks [...]
City Moves for 5 August – Who’s switching jobs at Willis Towers Watson, Morningstar and Posterscope? August 5, 2019 Today’s City Moves includes Willis Towers Watson, Morningstar and Posterscope. Willis Towers Watson Global advisory, broking and solutions company Willis Towers Watson (WTW) has announced the appointment Matthew Gooden to the role of director and head of sales across its professional indemnity (PI) team. Matthew will be tasked with driving new business leads for the [...]
Events app Fever books $35m in funding round led by Rakuten August 5, 2019 Events platform Fever has secured $35m (£28.8m) in fresh investment following a funding round led by Japanese internet giant Rakuten. Fever, which lists entertainment events in more than a dozen cities worldwide, said the cash injection will fund investment in technology and expansion in new markets. Read more: Onecom bags £100m in funding as it [...]
UK hotel profit soars as Brits holiday at home August 5, 2019 The top 100 UK hotel groups saw profit break the £1bn barrier last year as the weak pound pushed Brits to holiday at home. Profit rose 83 per cent year-on-year from £583m as overseas tourists were also encouraged to visit the UK. Read more: Mandarin Oriental profit slump despite Hyde Park hotel reopening Revenue was [...]
Innovation boosts online retail sales August 5, 2019 Sales at the UK’s largest online retailers have risen 16 per cent to £8.2bn in a year as the popularity of e-commerce-only brands soared. Retailers that only trade online reported a 31 per cent increase in sales, rising to £3.4bn in the year to 30 June from £2.7bn the previous year. Read more: Westfield owner [...]
Remain-backing MPs say there is still time to block a no-deal Brexit August 4, 2019 Remain-supporting MPs have rejected reports that they have missed the chance to block a no-deal Brexit. Dominic Cummings, the architect of the Vote Leave campaign who is now the Prime Minister’s top adviser, is believed to have told ministers that MPs have run out of time to prevent the UK leaving the EU without a [...]
Starling to break even as bank customers double August 4, 2019 Starling Bank is set to break even in the UK by the end of 2020, its founder and chief executive has said, after revealing that its user numbers have doubled in the last eight months. In her annual letter, Anne Boden said the fintech firm’s account total – spanning both business and retail users – [...]
Mike Ashley’s Sports Direct closes in on Jack Wills deal August 4, 2019 Retail tycoon Mike Ashley’s Sports Direct has emerged as the favourite to buy struggling fashion brand Jack Wills Sports Direct is the preferred bidder for the retailer and a deal could be struck as soon as tomorrow, Sky News reported. Read more: Mike Ashley and Philip Day in battle to buy Jack Wills Sources told [...]
Ashtead slashes pension entitlements for top execs August 4, 2019 FTSE 100 plant hire firm Ashtead has axed pension entitlements worth up to 40 per cent of salary for its senior executives as pressure grows on UK public companies to cut excessive pension packages. Ashtead has cut pension perks for its senior staff from up to 40 per cent of salary to a maximum 15 [...]