“Relationship with a colleague” forces FTSE 100 finance chief to step down May 3, 2023 The chief financial officer at FTSE 100 firm RS Group stepped down today after notifying the company’s board about a relationship with another member of staff. The company, which distributes industrial and electronics products, said that chief financial officer David Egan would leave the business “with immediate effect”. “Very recently I notified the board of [...]
‘UK simply hasn’t gone far enough’ to tackle cost issues for offshore wind – as Brits face extra £530m bill by 2030 May 3, 2023 The UK will fall short of the government's offshore wind targets this decade, with developers facing serious cost challenges for projects.
Bitcoin price pushes upwards as investors wait for latest rate hike decision May 3, 2023 Bitcoin is trading comfortably above $28k and closer to $29k this morning, while Ethereum (ETH) is trading in the green for $1,866.
Morning in the City: News, market updates, and more: LIVE May 3, 2023 Good morning and welcome to City A.M.’s morning liveblog, bringing you all the news and market updates you need to start your day.
Reach sales slump: Mirror, Express and Star publisher says Facebook changes hit digital ads hard May 3, 2023 News publisher Reach reported a slump in sales for the first quarter of 2023, with digital revenue hit by changes to how Facebook presents its news content, the company said on Wednesday. The publisher — those titles include the Mirror, Express and Daily Star — said revenue fell by 5.9 per cent in the four [...]
As FCA rewrites listing rules, another firm ditches London due to ‘regulatory burden’ May 3, 2023 A London-listing and the associated tangle of regulatory red tape inflict more pain on firms than benefits, an AIM-listed renewables firm said today, as it announced plans to ditch its quoted status in the City.
Stellantis revenue jumps 14 per cent as it outlines plan for more electric cars May 3, 2023 Stellantis, the owner of Peugeot and Fiat, saw net revenue climb to €47.2bn (£41.6bn), up 14 per cent compared to the first quarter of last year, the firm said today. The increase was partly driven by a 22 per cent increase in electric vehicle sales globally. In Europe, orders were up six per cent, which [...]
Coca-Cola HBC’s revenue fizzes almost 25 per cent – but Russia exit still hurts a year on May 3, 2023 Coca-Cola HBC AG, the bottling company of the soft drink giant, reported strong revenue growth at 22.2 per cent, but it continues to take a hit from withdrawal of its business in Russia last year. Net sales revenue were up 24.4 per cent, but the firm stated that foreign exchange movements, particularly currency devaluation in [...]
Ryanair grounded 650 flights in April due to strike chaos despite petition to ‘keep skies open’ May 3, 2023 Ryanair has said over 650 flights were cancelled due to the French Air Traffic Controller strikes in April, meaning almost 120,000 passengers couldn’t fly. Flight traffic grew by 13 per cent year on year to 16mn guests overall, with the firm operating a total of 89,650 flights in April. The low-cost carrier saw load factor [...]
Swapping printing for press ups: Times publishing boss joins Gym Group as CEO in cost cutting bid May 3, 2023 The Gym Group has announced that seasoned business leader and publishing boss Will Orr has taken on the role of chief executive. The budget exercise chain drafted in the pricing pro to keep costs attractive amid the cost of living crisis. In his new role at the Gym Group, Orr will be leaving the world [...]
