Scottish Mortgage Investment Trust chair quits after boardroom bust-up March 21, 2023 The chair of the Scottish Mortgage Investment Trust has stepped down today after a public bust up with one of the firm’s directors over alleged “procedural violations” in its investment practice.
Ukraine claims attack on Russian cruise missiles in occupied Crimea March 21, 2023 Ukraine’s military intelligence agency reported what appeared to be a brazen attack on Russian cruise missiles being transported by train in the occupied Crimean Peninsula. The region’s Russian-appointed governor reported an incident in the area of the same Crimean town, Dzhankoi in the northern part of the peninsula, though he did not mention cruise missiles [...]
Broadband firms urged to cancel ‘exorbitant’ mid-contract price hikes for vulnerable customers March 21, 2023 Broadband firms have been urged to cancel “exorbitant” mid-contract price rises for vulnerable customers less than two weeks before they are due to take effect. Millions of broadband and mobile phone customers can expect to face monthly bill increases of at least 14 per cent from April. Providers often link their annual price rises to [...]
Death of the Queen forced ITV to ditch Spitting Image episodes and take £9m hit March 21, 2023 ITV says it was forced to write off episodes of Spitting Image featuring the Queen following the monarch’s death last year – at a cost of £9 million. The broadcaster said the episodes “could not be effectively edited” following the news, and it was “highly unlikely” they would ever be screened. The figures were revealed [...]
Trustpilot: Founding chief executive to step down after 16 years at the top March 21, 2023 Consumer review giant Trustpilot has announced its founder and CEO will step down and take on a brand ambassador role instead. Peter Holten Mühlmann, who created the Danish London-listed firm in 2007, will quit as chief executive and take on a new more symbolic role, of founder and non-executive director. Trustpilot said he will focus [...]
Inheritance tax take beats all records as property price hikes boost HMRC’s coffers by whopping £6.4bn March 21, 2023 The amount of inheritance tax (IHT) paid in February totalled £531m, bringing the total for the 2022/23 tax year to a record £6.4bn. With just one month to go the amount already surpassed the £6.1bn received by the Treasury throughout the entire 2021-22 financial year. The record-breaking inheritance tax take follows last week’s revision by [...]
European markets to open higher after Credit Suisse drama as investors split on central bank rate hikes March 21, 2023 European markets are set to open higher on Tuesday as investors bet that banking turmoil will put a halt to central banks’ battle to contain inflation The FTSE and Frankfurt’s DAX were called up 0.59 per cent while the CAC in Paris was called up 0.47 per cent. After the drama of the past few [...]
B&Q owner Kingfisher’s profits slump nearly 40 per cent although Covid backlog may yet boost DIY chain’s bottom line March 21, 2023 B&Q owner Kingfisher reported a sales slowdown as the DIY giant felt the hit from Brits scaling back on home improvements. For the year ending 31 January 2023 Kingfisher, which also owns brands such as Screwfix, posted pre-tax profits of £611m, down 39.3 per cent from £1.7bn in the same period last year. As shoppers [...]
Why pension funds might not be to blame for the UK’s capital market decline March 21, 2023 Pension funds have taken on an interesting new role in the City psyche over the past year. Once just guardians of the country’s retirement cash, they have morphed into punch bags on which to unleash frustration at the UK’s capital market decline. A sort of anti-growth coalition unwilling to back home-reared equities and believe in [...]
Rail strikes: Pubs and bars breathe sigh of relief – but walkouts are still planned March 21, 2023 London’s hospitality sector has welcomed RMT trade members’ vote to accept a pay offer from Network Rail, after the strikes and disruptions cost restaurant and pub business up to £3bn. Kate Nicholls, chief executive at UKHospitality, described the decision as “encouraging news” for hospitality businesses. She said: “There’s plenty still to be done, of course, [...]
