Flutter: US bet pays off as gambling firm revenues rack up to £7.6bn March 2, 2023 The gambling business behind Paddy Power and Betfair saw its sales soar this year as the group gained huge momentum in the US. Flutter Entertainment said it was continuing to go from “strength to strength” in the US market as it saw revenues reach £2.6bn in the year ending 2022. The London-listed group which operates [...]
A bigger bite: Pret hikes team member salaries as commuter coffee favourite vows to invest in workforce March 2, 2023 Pret a Manger will increase the salaries of its workers from the start of next month to avoid falling foul of minimum wage laws, which change on April 1. Sandwich chain Pret said that it would hike pay for its worst-paid staff by 2.9 per cent, from £10.30 an hour to £10.60 an hour. It ensures [...]
Schroders: London asset manager’s profits tumble 14 per cent after 2022 proves ‘stress test for strategy’ March 2, 2023 Asset manager Schroders said its profits had tumbled sharply last year as market volatility dragged down its assets and caused investors to pull cash from its funds.
ITV’s revenue up and profit down as I’m a Celeb broadcaster invests heavily in streaming and on-demand TV March 2, 2023 ITV had a mixed 2022 thanks to “deliberate strategic actions”, as revenue went up almost seven per cent while profit dipped due to lower advertising intake. The TV channel and on-demand service reported studio revenue of more than £2bn, a 19 per cent rise on 2021 by more than £300m. Its total group revenue was [...]
London Stock Exchange Group profits jump as it hails Refinitiv deal a success March 2, 2023 The London Stock Exchange Group said its “strategy is working” today as it posted a jump in pre-tax profits and claimed its acquisition of data firm Refintiv had delivered a boost to to the bottom line. The parent company of London’s bourse said pre-tax profits had jumped 38.8 per cent to £1.24bn last year, up [...]
Metro Bank loss narrows to £70.7m as bank vows to put compliance issues behind it March 2, 2023 Higher interest rates helped Metro Bank narrow its loss for the year as the bank attempts to put a series of compliance missteps behind it. Metro Bank’s pretax loss narrowed to £70.7m in 2022, as the bank saw revenue jump 31 per cent on the back of higher interest rates. The bank noted it was [...]
Taylor Wimpey profits up nearly 22 per cent at £827m as builder notes signs of housing market ‘improvement’ March 2, 2023 Taylor Wimpey said it “acted quickly” to address rapidly changing market conditions, as the London-listed construction group reported 3.2 per cent year-on-year growth in revenue to £4.4bn during the year ending 2022. The group reported pre-tax profits of £827m, a rise of 21.8 per cent from £678m in the same period last year. As inflation [...]
City A.M.’s awards a celebration of the best and brightest of the Square Mile March 2, 2023 Tonight at the Guildhall, City A.M. will once again host its annual awards night – a celebration of the best and brightest of the Square Mile and beyond, and the contribution of enterprising private businesses, CEOs and entrepreneurs to our national life. It will, as it always is, be a fantastic occasion. The competitive advantage [...]
London must be given power to direct its economy to arrest historic productivity decline, study urges March 2, 2023 London must be given greater power to direct its economy by central government to arrest a historic productivity decline, a new report out today has urged. Handing the capital more sway over tax and spending decisions, peeling back onerous planning rules and boosting graduate migration would help London return to being an economic growth engine [...]
Regulators holding back fintech firms in cost of living crunch, industry body says March 2, 2023 Regulatory red tape is stopping fintech firms from boosting financial inclusion and helping consumers through a cost of living crunch, the industry body and EY said today. In a new report, Innovate Finance and big four firm EY said today that City regulators need to quickly expand the UK’s open banking regime and loosen rules [...]
