Heathrow narrows losses, but claims hit from strikes and CAA price-cap April 26, 2023 Heathrow Airport narrowed its losses this quarter, but said results were impacted by the CAA’s price cap, as well as ongoing strike action. The airport posted adjusted pre-tax losses of £139m, down from £223m the previous year, writing that this was due to the “the revenue allowance in the CAA’s H7 settlement being set too [...]
Reckitt: Growth for Durex owner as it welcomes new CEO April 26, 2023 Durex maker Reckitt Benckiser reported strong revenue growth in the first leg of the year as the consumer goods giant revealed a new chief executive to lead the group. The cleaning products to sexual health company posted like-for-like revenue growth of £3.9bn up 7.9 per cent in the same period last year, as the group [...]
Standard Chartered profit rises 21 per cent but confirms “no contact” with suitor First Abu Dhabi Bank April 26, 2023 Standard Chartered beat expectations in the first quarter as rising interest rates once again boosted the bank but it confirmed there had been not contact with First Abu Dhabi Bank. The emerging markets-focused lender reported a pretax profit of $1.8bn, rising 25 per cent year on year and beating market expectations of a $1.4bn profit. [...]
Microsoft: Shares jump eight per cent as AI helps software giant’s sales beat expectations April 26, 2023 Microsoft beat Wall Street’s estimates for quarterly revenue and profit on Tuesday, driven by growth in its cloud computing and Office productivity software businesses, and the company said artificial intelligence products were stimulating sales. The company forecast revenue in its main segments for the current quarter would match or top Wall Street targets. Shares gained 8.3 per cent in after-market [...]
Post-Brexit reforms will drive up pension fund investment in UK infrastructure, survey finds April 26, 2023 More than half of pension scheme leaders expect to increase their investment in UK infrastructure projects in the next year, with many arguing a series of pending post-Brexit reforms will be the “key driver” behind their plans, according to a new survey exclusively shared with City A.M. Over 60 per cent (62 per cent) of [...]
Advertising: Digital ad market spend slows as budgets take post-Covid reset April 26, 2023 Growth in the UK’s digital advertising market slowed in 2022 as economic headwinds continued to weigh on the market. The digital advertising market – meaning any advertising delivered through digital platforms – grew 11 per cent to £26.1bn in 2022, according to industry body IAB’s digital ad spend report. The market previously grew 41 per [...]
UK venture capital investment tumbles to pre-pandemic levels as market jitters linger April 26, 2023 Venture capital investment in the UK tumbled back to pre-pandemic levels in the first three months of the year as a slump in start-up valuations and volatile markets continue to spook investors.
National Grid told to hurry up as solar projects face 15 year waiting times April 26, 2023 National Grid needs to speed up waiting times for new energy projects, or the UK risks failing to meet its solar power targets.
Sunak arrived late to the business charm offensive and still can’t catch up April 26, 2023 Rishi Sunak spent Monday flirting with business leaders, but Keir Starmer and Rachel Reeves are still winning the battle to court corporates.
The Bank of England needs trade unionists and social scientists to stop groupthink April 26, 2023 The Bank of England relies on models that aren't fit for purpose and is often guilty of groupthink. Welcoming social scientists and even trade unionists among its ranks could actually be beneficial, writes Paul Ormerod
