Mark Kleinman: The Post Office disgrace, Historic Royal Palaces and DAZN’s next move August 24, 2023 Post Office chief fails again to Read the room Like salt poured in an open wound: that’s the only conceivable metaphor for the corporate governance disgrace delivered by the Post Office in recent weeks. Consider the facts: thousands of sub-postmasters were the victims of a grotesque cover-up, with many of them left penniless, homeless or [...]
U-turn? GAM enters financing talks with Xavier Niel-backed group after failed Liontrust takeover August 24, 2023 Ailing fund manager GAM has turned to a rebel group of shareholders for emergency funding today despite previously rebuffing the offer and favouring a takeover swoop from London-listed Liontrust.
John Lewis faces fresh backlash for Ealing build-to-rent scheme August 24, 2023 John Lewis is facing renewed backlash from Ealing locals for its attempts to build hundreds of rental homes in two block towers within the London borough as part of its push to diversify from retail. The struggling department and grocery brand has submitted its finalised development plans to Ealing Council, with an ongoing consultation process [...]
Travelodge reveals record first half as blockbuster London summer drives demand August 24, 2023 Budget hotel chain Travelodge has revealed a record first half, with underlying earnings up 48 per cent, thanks to booming demand for both business and leisure trips and its best ever night in London. Travelodge reported its highest ever revenue night in London in July, as Brits flocked to Blur’s concert at Wembley and Bruce Springsteen [...]
Gatwick bank holiday strikes OFF: Brits breathe sigh of relief as disruption averted August 24, 2023 London Gatwick Airport passengers are no longer facing disruption over the August bank holiday, after workers accepted a last-gasp pay deal. The Unite Union threatened strike action on this weekend, on behalf of members employed by ground handlers Red Handling and Wilson James, who operate passenger assistance contracts. But following the improved offer both have [...]
Rishi Sunak breached MPs’ code of conduct by not declaring wife Akshata Murty’s shares August 24, 2023 Rishi Sunak broke the MPs’ code of conduct by failing to correctly declare his wife’s shares in a childminding company, the Commons’ standards commissioner has said. Daniel Greenberg concluded the breach arose out of the prime minister’s “confusion” around the rules on declaration, and decided to close the inquiry without the need for further action. [...]
FTSE 100 close: London markets rally after ‘blockbuster’ Nvidia results as investors bet rates are nearing peak August 24, 2023 London markets stood out among global peers as investors bet that the Bank of England was nearing the end of their rate hiking cycle. The bluechip FTSE 100 index climbed 0.24 per cent to trade at 7,338.16 The midcap FTSE 250 index slipped 0.11 per cent to 18,206.37. Indexes in Paris and Frankfurt fell, having [...]
PureGym: “If we build it, they will come” says gym chain riding out cost hikes August 24, 2023 Value fitness club PureGym appears to have muscled its way through the start of the cost of living crisis with revenues spiking almost a fifth. During the quarter it steamed ahead with its expansion plans to open one new site per week, amounting to 20 new sites in the UK. The business, which offers competitive [...]
Harbour Energy confirms losses as UK windfall tax takes its toll August 24, 2023 Harbour Energy has suffered a billion dollar swing in its balance sheet, posting an $8m loss - weighed down by the UK windfall tax.
Acquisitions help Macfarlane to increase profit despite slowdown in customer demand August 24, 2023 Packaging firm Macfarlane withstood a slowdown in customer demand after strong contributions from a number of recently acquired businesses. The Glasgow-based firm saw its pretax profit increase 13 per cent in the first half of the year while its revenue climbed two per cent. It upped its interim dividend by four per cent to 94p. [...]
