Maersk takes big revenue hit as pandemic-era bonanza ends May 4, 2023 Shipping giant Maersk reported a significant revenue drop of 26 per cent today, down from $19.3bn (£15.4bn) to $14.2bn (£11.31bn) year on year, as the freight and shipping sector saw demand fall sharply. The Copenhagen-based group said profitability for the quarter was “significantly lower” compared to last year, amid low demand and challenging economic circumstances. [...]
Mortgage rates ‘significantly’ increase – but what does it mean for the housing market? May 4, 2023 The number of mortgages being approved leaped in March in another signal that the outlook for the housing market is beginning to recover. Figures released today by the Bank of England showed that mortgage approvals for house purchases rose “significantly” to 52,000 in March from 44,100 in February. Lucian Cook, head of residential research at [...]
Price of Bitcoin moves above $29,000 after US Federal Reserve raises interest rates May 4, 2023 Bitcoin is in the green today after recovering from a slight dip following the Federal Reserve’s announcement yesterday of another 0.25% rate hike.
BMW: Revenue jumps despite sales dip amid ‘persistently volatile conditions’ May 4, 2023 BMW Group's reported a healthy increase in quarterly revenue today as past price hikes helped the firm weather a dip in sales amid “persistently volatile conditions.”
Inflation reignites in UK as economy powers further away from feared recession May 4, 2023 Inflation has reignited in the UK, pushed higher by the economy roaring back and emboldening businesses to pass on higher costs to customers via rising prices, a closely watched survey out today unveils. S&P Global and the Chartered Institute of Procurement and Supply’s (PMI) for the country’s services sector climbed sharply to 55.9 points last [...]
WANdisco set to slash headcount by 30 per cent as fraud fall out continues May 4, 2023 Beleaguered data firm WANdisco said it will slash its headcount by nearly a third today as it scrambles to steady the ship amid an accounting scandal and fraud probe.
Total’s £21bn Iraq project expected to begin in two weeks, oil minister says May 4, 2023 Iraq and Total Energies expect to kick-start a long-delayed £21.5bn project within the next two weeks, Iraq's oil minister said.
Derwent: London property investment trust credits ‘busy’ West-End and return to the office for uptake in leases May 4, 2023 Derwent, the London property investment trust, has told investors that London and the West-End is “busy” as a return to offices and shopping signal better times for the capital. In its first quarter trading update, the FTSE 250 real estate firm revealed a 6.6 per cent uptake in the number of leases secured which totalled [...]
Dating at work is okay, as long as you’re dressing up for it May 4, 2023 The chief financial officer of a FTSE 100 company was forced to step down over a consensual relationship with a colleague. David Egan, finance chief of RS Group, left with “immediate effect” after notifying the board of a “personal relationship” with a colleague. Office dating, complicated, contentious – but also the source of many a [...]
Trainline shrugs off UK strikes with £4.3bn in ticket sales as continental success keeps it on right track May 4, 2023 Trainline reported bumper ticket sales of £4.3bn for the last 12 months, up 72 per cent year on year and 16 per cent higher than pre-Covid. The London-listed seller saw revenues of £327m, up 74 per cent from last year, citing surging ticket sales in the UK and on the continent especially as a key [...]
