Tui’s half year revenues drop by nearly €6bn but summer holiday bookings surged in April May 12, 2021 Travel giant Tui took in €700m in sales in the half year to 31 March, down from €6.6bn the year prior, as borders remained closed, and summer holidays looked in doubt as destinations were lockdown. Shares in Tui slumped 3.3 per cent to 413p per share this morning. However, the travel company has since seen a slight [...]
UK Government sell shares of bailed-out NatWest for £1.1bn as stake shrinks to 55 per cent May 11, 2021 UK Government sell shares of bailed-out NatWest for £1.1bn as stake shrinks to 55 per cent
Re-elected Khan already caught in the middle as RMT union threatens tube strike over Night Tube jobs May 10, 2021 The RMT union is raining on Sadiq Khan’s re-election celebrations with threats of industrial action if Transport for London doesn’t back down over scrapping Night Tube jobs and merging roles with regular Tube drivers. Transport for London, which is in a dire financial state after more than a year of Covid-19 lockdowns and remote working [...]
Rolls Royce puts Norwegian unit back up for sale after Oslo blocked deal with Russians May 10, 2021 FTSE blue-chip Rolls Royce’s Norwegian maritime engine unit Bergen is back up for sale, less than two months after Oslo blocked a previous deal for it to be sold off to a Russian company. “The sale process has restarted,” a source told Reuters today. Norway in March stopped Rolls Royce from selling Bergen for €150m [...]
London IPO: Darktrace shares surge 40 per cent on market debut April 30, 2021 Shares in UK tech darling Darktrace soared on their London debut, jumping as much as 42 per cent higher than their initial listing price, in an IPO that valued the company at £1.7bn. Darktrace this morning said shares were priced at 250p in its London IPO, the midpoint of the range. Upon the opening bell shares traded [...]
City A.M. TV: Daily Market Snapshot April 30, 2021 Its been a fascinating month for global equity markets in April. Three key themes have dominated: i) a weak US dollar (and strong currencies elsewhere); ii) a strong US company reporting season (with that replicated in other parts of the globe); & iii) a Fed meeting and a reiteration, once again, of the Fed’s super [...]
Lockdown winner Amazon made $13,000 PER SECOND in first quarter sales as profits hit record $8.1bn April 30, 2021 Amazon cemented its position as one of the biggest winners of the pandemic, posting record first quarter profits of $8.1bn last night off the back of making $13,000 in sales ever second. And it’s far from over yet. The e-commerce giant signalled that consumers would keep spending in a growing US economy and converts to [...]
Funds under management swell to a record £135bn at St James’s Place April 29, 2021 Funds under management at St James’s Place have reached a record high and strong inflows in the first quarter it said this morning, as government spending and Covvid-19 vaccination drives positive investor sentiment. Funds under management jumped to £135bn at the end of March, surpassing the previous record of £129bn it touched in 2020. Net [...]
Standard Chartered profit soars to $1.4bn as Covid19 provisions to cover bad loans go unused April 29, 2021 Standard Chartered this morning posted a higher- than-expected 18 per cent jump in quarterly pre-tax profit, as the Asia-focused bank began recovering from the economic hit caused by the Covid19 pandemic. Pre-tax profit for the three months to 31 March was $1.4bn, up from $1.2bn a year earlier, and well ahead of the $1.08bn analysts had [...]
UK’s sanitising obsession boosts sales at Dettol maker Reckitt Benckiser during Covid pandemic April 28, 2021 The UK Government’s message of “Hands, face, space” during the Covid pandemic is still paying off for hygiene and cleaning products maker Reckitt Benckiser. Reckitt Benckiser reported a higher-than-expected jump in quarterly sales as Brits kept up their heightened cleaning regimens a year into the Covid-19 pandemic, and the company backed its full-year outlook. The pandemic [...]
