Tesla posts record profits as Elon Musk stands to gain $23bn windfall April 21, 2022 Tesla has seemingly won the hearts of drivers looking to go green, as rising prices has stopped short of putting off consumers from making the leap. Elon Musk’s electric vehicle (EV) company enjoyed record profits of $3.3bn (£2.5bn) in the first thee months of the year, despite inflationary headwinds. In its first quarter update published [...]
Bill Ackman dumps Netflix stake following share price plunge April 21, 2022 Top Netflix shareholder Bill Ackman has sold his stake in the world’s largest streaming service, sending further shockwaves for the fallen pandemic darling. It comes as the company lost $50bn in value over the past few days after shares were sent into a frenzy following the trading update which reported heavy losses of 200k subscribers [...]
XPS Pensions announces chairman exit and steady client growth amid regulatory changes April 21, 2022 London-listed firm XPS Pensions reported steady organic growth this morning, as well as announcing that its chairman, Tom Cross Brown, will be retiring in September. The firm reported growth across the board, with revenues growing eight per cent organically year on year. Advisory work has continued to see high client activity levels driven by continued [...]
Growth slows for pest-control firm Rentokil following acquisition boom April 21, 2022 Pest-control firm Rentokil posted nearly two per cent of revenue growth this morning to £722m. Pest Control delivered organic growth of 5.5 per cent in the first quarter with all regions in positive growth. Ongoing Revenue in the Growth and Emerging markets grew by 10.9 per cent and 13.6 per cent respectively. Customer retention was [...]
Antofagasta swallows $2.2bn in spiralling Chilean project costs as inflation bites April 21, 2022 Antofagasta is betting on copper, gold and steel-essential metal molybdenum this year, as the mining giant swallows spiralling costs of its latest Chilean project. A review of the Los Pelambres expansion project, which is now more than 70 per cent complete, has spiralled from $1.7bn (£1.3bn) to $2.2bn (£1.6bn), as the miner shoulders Covid-19 costs [...]
Nestlé warns of further price rises over the year amid rampant inflation April 21, 2022 Nestlé has cautioned more price rises could be on the horizon for consumers as cost inflation leaps. In a three month trading update, the Kit Kat owner said it had already “stepped up pricing in a responsible manner” and seen “sustained consumer demand.” Nestlé CEO Mark Schneider added: “Cost inflation continues to increase sharply, which [...]
British defence firm Meggitt posts humble growth as it gears up for £6.3bn US takeover April 21, 2022 Revenue for the British defence firm Meggitt was up a humble five per cent this morning as the company gears up for a US takeover. Whilst this was a slight boost from the previous year, revenue was still down 23 per cent compared to pre-pandemic levels. Meggitt stated that though it was pleased with the [...]
BHP: Mining giant slashes production guidance for copper and nickel April 21, 2022 Australian metals firm BHP has announced it is reducing total copper and nickel production for the full year yet is on track with previous iron ore estimates. In a nine month trading update on the London Stock Exchange, BHP said its production guidance for the 2022 financial year remained unchanged for iron ore, metallurgical coal [...]
Slipping revenue and breaking-even: Covid-19 knocks media group Bonhill April 21, 2022 Covid-19 has continued to knock media group Bonhill hard, as the company reports slipping revenue, operating losses and breakeven earnings. The London-listed company had its revenue dwindle eight per cent to £16.4m in the year to 31 December, while it swallowed an operating loss of £8.3m. The business-to-business focused media firm also reported a breakeven [...]
LadBible boosts revenue by 81 per cent following glowing London debut April 21, 2022 Ladbible owner LBG Media affirmed its immense growth yesterday, revealing revenue spiked 81 per cent to £54.5m since floating on the London Stock Exchange. Managing brands like SPORTbible and Tyla, the group reported direct revenue growth of 58 per cent to £22.4m thanks to significant increases in content marketing and direct display sales in the [...]
