Revolut hit with 40 per cent valuation write down amid banking licence woes June 15, 2023 Revolut’s value has plunged by nearly 40 per cent over the past year as it struggles to win a banking licence and fails to provide full “visibility” on its accounts, according to a major investor in the firm. London-based Revolut, run by Russian-British founder Nik Storonsky, bagged a $33bn valuation at the peak of the [...]
‘This is a load of complete tripe’: Boris Johnson’s 1,700-word response to damning privileges committee report – read it in full June 15, 2023 Here is the full text of Boris Johnson’s statement in response to the Privileges Committee’s report: Boris Johnson’s response to Privileges Committee report It is now many months since people started to warn me about the intentions of the Privileges Committee. They told me that it was a kangaroo court. They told me that it [...]
Boris Johnson ‘deliberately misled’ Parliament and faced suspension for 90 days, damning report finds June 15, 2023 Former prime minister Boris Johnson “deliberately misled” Parliament and if he were still an MP should be suspended for 90 days, a report from the privileges committee has found. The report says he also deliberately misled the committee itself, “impugned” the committee and was “complicit in the campaign of abuse and attempted intimidation of the [...]
‘London buzzing’: City pub favourite Fuller’s boosted by summer drinking as workers return to office June 15, 2023 The chief executive of Fuller’s has said London is “buzzing” with activity as sunny spells and a return to office working has helped boost business trade. Simon Emeny, Fuller’s’ chief reported an increase in corporate booking across its almost 400 strong pub estate as employees returned to the office post-pandemic. The pub chain also reported [...]
Bailey holds the torch for a proud UK tradition – failing our monetary policy June 15, 2023 Andrew Bailey and the economists at the Bank of England are part of a long line of people who have failed Britain’s monetary policy, writes Will Cooling
Bunzl looks at more acquisitions to drive growth as revenue ‘broadly flat’ in first half of year June 15, 2023 Outsourcing group Bunzl expects its continued acquisitions spree to drive growth over the next six months, but said its underlying revenue for the first six months will likely remain ‘broadly flat’. The group said it is expecting its revenue to increase year-on-year by 4-5 per cent at actual exchange rates, and to grow by one [...]
Asos drive to turn “stock into cash” by buying less and flogging discounted old items June 15, 2023 Asos is buying less stock and ramping up sales of its current items in the latest efforts to boost profit, as the struggling online retailer steams ahead with its turnaround plan – posting a £20m rise in earnings. The fashion brand said it is on-track to deliver adjusted earnings before interest and taxes (EBIT) guidance [...]
Legal and General: Santander Europe boss António Simões to succeed long-time chief Sir Nigel Wilson June 15, 2023 Legal and General (L&G) has appointed Santander’s António Simões to be chief executive, who will succeed the departing Sir Nigel Wilson next year. Simões has been Santander’s European regional head since 2020, leading the bank’s operations across the UK, Spain and Portugal. Before that Simões had been at HSBC for 13 years, where he had [...]
Mark Kleinman: The must-read City column June 15, 2023 Mark Kleinman, City editor of Sky News, writes fortnightly for City A.M. This week he opines on the ICAEW, Eton's new Provost and the future of the Telegraph
The Notebook: Andy Silvester on the Tory Mayoral race, a new must-read and a tremendous lunch spot June 15, 2023 The Tories appear to have done a real botch-job of selecting their candidate for next year’s mayoral election. Most who were paying attention expected the final three or four to be a combination of Paul Scully, the minister for London and Sutton MP, social media star and former adviser Samuel Kasumu, techie and diplomat Daniel [...]
