Paragon Bank’s share price surges after record profits and deposit inflows June 6, 2023 Shares in Paragon Bank surged nearly eight per cent this morning after the FTSE 250 lender reported record interim profits and significant deposit inflows. In the first half of the year, Paragon’s underlying profit jumped 22 per cent to £128.9m as the bank benefitted from rising interest rates. The bank’s net interest margin (NIM), the [...]
Why the FCA and City lawyers could be poised for a Square Mile showdown June 6, 2023 Lawyers have warned of a looming clash between City regulators and legal professions after the watchdog’s new enforcement chief fired barbs at the sector’s conduct while defending financial firms.
BAT: Lucky Strike maker has 900,000 new customers in vape and e-cigarette shift June 6, 2023 Lucky Strike maker British American Tobacco has seen its share price jump this morning after its new chief executive predicted a three – five per cent rise in organic revenue this year thanks to its decision to ramp up investment in cigarette alternatives. Its shares rose 1.26 per cent when markets opened this morning, as [...]
All you need to know: Ukraine blames Russia for ‘war crime’ Kakhovka dam explosion June 6, 2023 Ukraine blames Russia for the bombing of the Kakhovka dam, with thousands now set to be hit by floodwaters and concerns over a nuclear plant
Ofgem slaps SSE with £10m fine for overcharging National Grid June 6, 2023 Energy giant SSE is to pay a £9.8m penalty after breaching its generation licence, the industry regulator has announced.
Primark owner buys up milk records-keeper in near-£50m deal June 6, 2023 Primark-owner ABF has bought National Milk Records, a key part of the milk industry, as it strengthens its agri-food business
Simply Be and Jacamo owner hit by revenue fall and warns 2024 will be tough June 6, 2023 The owner of Simply Be and Jacamo has told investors that it expects the hangover of high inflation and low consumer confidence to continue to impact the business next year, as the retailer posts a 82.6 per cent decline in profit before tax. N Brown, which trades solely online posted a 5.3 per cent decline [...]
“Russian terrorists”: Kremlin blamed for catastrophic Ukraine dam blast that could leave thousands homeless June 6, 2023 A major Soviet-era dam in the Russian controlled part of southern Ukraine was breached on Tuesday, unleashing floodwaters across the war zone in what both Ukraine and Russia said was an intentional attack by the other’s forces. Unverified videos on social media showed water surging through the remains of the dam with bystanders expressing their [...]
Morning in the City: Paragon, N Brown, ABF, Zopa and the CBI’s crunch vote June 6, 2023 Welcome to the live blog on Tuesday 6 June. This morning we will be covering results including Paragon bank, N Brown, Association British Foods, and of course, the crunch vote with the Confederation of British Industry.
CBI to face no-confidence vote today with future in the balance June 6, 2023 The CBI will find out if it has a future after a vote of members that is effectively a confidence vote in the body's new leadership.
