Twitter shareholders on verge of approving Elon Musk takeover September 13, 2022 TWITTER whistleblower Peiter Zatko was grilled in the US Congress this afternoon, adding further ammunition to Elon Musk’s legal battle with the social media giant over his stunted takeover. Twitter’s former head of security, who was fired last year, accused the company of misleading regulators about cyber security, as well as its management of bot [...]
British biotech giant Oxford Nanopore revenue boosted by ‘burst’ of Omicron September 13, 2022 The muting of Covid-19 revenue at British biotechnology company Oxford Nanopore has been delayed by the “burst” of Omicron, however, related government contracts continue to dry up as cases fall. The company had warned investors of a ‘tapering’ of Covid-related revenue last year. And has also dialled back revenue expectations for its Emirati Genome Program [...]
Fever Tree profit margins impacted by shipping and inflationary pressures September 13, 2022 Fever Tree has said price increases on its soft drinks only partially helped to off-set cost pressures caused by heightened shipping costs. The tonic-water seller said its gross margins had been hit by “inflationary cost pressures and continued exposure to elevated Trans-Atlantic freight costs,” in interim results published on Tuesday. A gross margin of 37.4 [...]
Health secretary must not forget about prevention in tackling NHS crisis, urges think tank September 13, 2022 The new health secretary must not forget about prevention, according to a top think tank, as she inherits the job of tackling an NHS in crisis. Thérèse Coffey, who was earlier this month appointed as the health minister, as well as deputy prime minister, announced last week she would prioritise A, B, C and D [...]
Sports Direct owner Frasers makes re-entry into FTSE 100 September 13, 2022 Sports Direct owner Frasers has made a return to the London Stock Exchange’s FTSE 100. The retailer re-joined the blue-chip index on Tuesday, according to its new chief executive officer Michael Murray. In a LinkedIn post, the CEO said the “significant milestone reflects the strength of our strategy and the strong performance that Frasers Group [...]
The Week owner Future says full-year results to top expectations despite challenging backdrop September 13, 2022 The Week owner Future has said full-year results are expected to top expectations despite increasing pressure being put on the media firm from inflation and supply chain woes. The firm said it had seen return to organic audience growth in the second half of the year, “as Covid comparators were fully lapped, combined with continued [...]
M&C Saatchi directors continue to bat away Murria’s ‘derisory’ takeover September 13, 2022 M&C Saatchi directors have continued to unanimously bat away Vin Murria’s AdvancedAdvt takeover of the firm, calling shareholders to reject the deal by taking no action. M&C directors said they continue to believe the AdvancedAdvt (ADV) offer is “derisory”, adding that it “fails to reflect the growth and opportunities in front of M&C Saatchi and [...]
Ocado shoppers sent to cut back on spending at online grocer September 13, 2022 Ocado has warned its grocery shoppers will cut back on spending as they turn to cheaper supermarkets and add less to their baskets. In a trading update, the London-listed firm noted “accelerating trading down and smaller baskets, particularly over the last few weeks” and said it now expected to see “a small sales decline” in [...]
UK civil servants to have computers monitored to get people back to office September 13, 2022 Whitehall civil servants will have their computers monitored in a bid to get people back to the office permanently post-Covid. Civil servants in the Cabinet Office, which has around 2,700 staff, have been told that management will monitor how often they log on to their computers to track how much they work from home. It [...]
City Moves: Who’s switching jobs in the Square Mile this week? September 13, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Kantar Data insights company Kantar has appointed a managing partner to lead its consultancy practice. Natalie Vander Vorst is set to lead the 150-person strong practice, which advises brands on commercial and marketing strategies. Over her career, [...]
