Primark owner ABF thanks sunny spells, digital push and inflation for 13 per cent sales hike June 26, 2023 Primark owner Associated British Foods (ABF), has credited warm weather and a revamp of the affordable fashion brands website for a 13 per cent rise in sales – hiking its share price 0.61 per cent when markets opened this morning. The retail giant which also brand such as Twinings, said like for like sales grew [...]
HSBC moving out of Canary Wharf headquarters in favour of Square Mile June 26, 2023 HSBC is set to leave its headquarters at Canary Wharf when its lease expires in 2027 and will move back to the heart of the City, City AM understands. The bank has been based in 8 Canada Square for more than two decades, but hopes to downsize to Panorama St Paul’s, 81 Newgate Street. The [...]
Jeremy Hunt to meet CMA, Ofgem, Ofwat and Ofcom over ‘profiteering’ concerns June 26, 2023 Jeremy Hunt will ask industry regulators what they are doing about any companies exploiting rampant inflation by raising prices. The Chancellor is set to meet the Competition and Markets Authority (CMA), and the watchdogs for energy, water and communications on Wednesday. He will press them on whether there is a profiteering problem in their sectors [...]
Viagogo exec: The noise doesn’t bother us – we just want fans to get through the door June 26, 2023 Not everyone likes secondary tickets platform Viagogo. But exec Chris Miller believes fans are ultimately the winners.
The Notebook: Sir Rocco Forte on the hated tourist tax, counteracting climate hysteria and Boris Johnson’s legacy June 26, 2023 The Notebook is a column where interesting people say interesting things. Today, it’s hotel industry giant Sir Rocco Forte, chairman of Rocco Forte Hotels My hotels in Italy, Germany and Belgium are booming. But occupancy in London is not what it was last year nor what we saw pre-pandemic. Official statistics bear this out, showing [...]
One in five UK employers has hired a Ukrainian, report reveals June 26, 2023 Nineteen per cent of businesses surveyed by the Social Market Foundation (SMF) hired at least one Ukrainian national in 2022, a new report published today has shown. In the cross-party think tank’s survey of 2,000 HR managers – conducted by YouGov on behalf of the Chartered Institute of Personnel and Development – the SMF also [...]
British businesses struggle to source cash amid Bank of England interest rate hikes June 26, 2023 British businesses are struggling to source cash to fuel growth as lenders retrench from the credit market after the Bank of England’s 13 straight interest rate rises, new research out last night showed. Just over nine in 10 mid-sized companies are running into roadblocks when trying to secure financing, prompting them to shelve expansion plans, [...]
Roaring mortgage rates to keep a lid on housing demand as City eyes Bailey and Pill remarks June 26, 2023 Roaring mortgage rates in response to markets betting the Bank of England will have to send official borrowing costs to over six per cent are poised to have kept a lid on housing demand. Fresh figures out this Thursday from the Bank of England are expected to show the volume of mortgages approved in May [...]
London fintech Treasuryspring raises $29m to grow cash investment platform June 26, 2023 London-based fintech Treasuryspring has bagged $29m (£23m) in a new funding round as the cash investment platform looks to increase its headcount and expand overseas. The company said today that it secured the investment in a Series B funding round led by British venture capital firm Balderton Capital, bringing the total amount the company has [...]
‘At stake is the structure of finance itself’: City bankers raise concerns over potential impact of Britcoin June 26, 2023 City bankers have raised concerns about the possible consequences that introducing the digital pound, known as ‘Britcoin’, could have on the country’s banking sector. “At stake is not just the type of token we use to pay for things but the structure of finance itself,” Huw van Steenis, vice chair at Oliver Wyman, told City [...]
