Everyman’s growing chain of cinemas underpins rocketing revenue growth March 13, 2019 A raft of new cinemas helped Everyman Media Group grow revenue 27 per cent to £52m last year, as it prepares to open a further seven venues this year. Read more: Everyman cinemas on track amid expansion plan Earnings before interest, tax, depreciation and amortisation rose 38 per cent year on year to £9.2m, the [...]
Spring Statement: Hammond warns against no deal as UK slashes 2019 growth forecast March 13, 2019 The UK chancellor Philip Hammond slashed the 2019 growth forecast in his Spring Statement and said future spending and economic wellbeing are dependent on an orderly Brexit. Hammond announced that the Office for Budget Responsibility (OBR) had cut the country’s 2019 growth forecast to 1.2 per cent, down from the 1.6 per cent predicted in [...]
All at sea: To save the maritime sector from a no-deal Brexit we must extend Article 50 March 13, 2019 As the representative body for the UK’s maritime sector, we find ourselves yet again having to respond to parliament failing to provide the certainty and clarity that our country needs. It really is worth restating that we are just 16 days away from the UK’s scheduled departure from the European Union. Read more: Brexit vote [...]
Boris Johnson invokes anger by claiming historic child sexual abuse probe money is ‘spaffed up the wall’ March 13, 2019 Boris Johnson came under fire today for “disgusting” comments he made saying public money was being “spaffed up the wall” on investigating historic cases of child abuse. The former London mayor made the remarks on LBC, saying the money would be better spent on tackling knife crime. Read more: Boris Johnson urges May to secure [...]
Business groups slam government plans to slash no-deal Brexit tariffs to zero March 13, 2019 Business groups criticised government proposals to slash tariffs to zero in a no-deal Brexit this morning, with the CBI warning it could prove to be “a sledgehammer for our economy”. The government said its measures should avert a £9bn hit to consumers and businesses if the UK crashes out of the EU without a deal [...]
Dixons Carphone hit with £30m fine for mis-selling mobile phone insurance March 13, 2019 Dixons Carphone has been fined £29.1m for historic mis-selling of mobile phone insurance. The Financial Conduct Authority (FCA) issued the penalty for behaviour between December 2008 and June 2015 at Dixons’ subsidiary, Geek Squad. Read more: Games and TV boost helps offset mobile phone slump at Dixons Carphone Geek Squad staff were trained to recommend [...]
Morrisons hikes dividend on confident outlook despite £86m blow to profits March 13, 2019 Morrisons has welcomed last year's jump in like-for-like sales with a special dividend, it revealed today, though profits were hit by £86m in costs as the supermarket closed a pension scheme and paid off loans. Read more: Morrisons and Tesco flag concerns over Sainsbury's-Asda merger The figures Profit before tax fell 15.8 per cent year on year [...]
Tube delays: Commuters hit by signal failure on Jubilee Line March 12, 2019 Commuters faced severe delays on the Jubilee Line this morning after disruption threatened to play havoc with their journeys into work. Read more: Revealed: These are London's most stressful Tube stations A signal failure at Waterloo led to severe delays across the entire line this morning, with Transport for London (TfL) advising passengers that their [...]
Sales fall again at fashion retailer French Connection as it signals modest return to profit March 12, 2019 Like-for-like sales fell again at French Connection over 2018 despite posting a modest return to profit in what it called a “tough” retail trading environment. Read more: French Connection shares rocket as it looks for a buyer The figures While the struggling retailer saw a return to underlying profit of £0.1m for the year to the end [...]
Softbank unveils $500m Softbank Acceleration Fund March 11, 2019 Softbank has launched a new global tech fund with up to $500m (£384.68m) to pour into early-stage startups. Read more: Softbank's Vision Fund pump $940m into robotics firm Nuro The Japanese telecoms giant could launch the Softbank Acceleration Fund as early as next month, according to Reuters. The new fund – a rebrand of Seoul-based [...]