Grocers see more than £1bn wiped off value after Tesco profit warning April 14, 2022 Supermarkets had a total of more than £1bn chipped off their market value on Wednesday, after a warning over inflationary pressures from Tesco. Grocers including Ocado and Sainsbury’s suffered poor performances on Wednesday, after Tesco warned that profit could be hammered by rising costs and shifts in shoppers’ behaviour. Ocado took a hit on the [...]
Russia’s flagship vessel ‘seriously damaged’ and in danger of sinking after Ukrainian missile strike April 14, 2022 A key Russian vessel in its Black Sea fleet was reportedly struck by a missile and is in danger of sinking after being engulfed in flames. The Moskva was said to be on fire after being hit near Odessa on Wednesday night, with AFP saying that in Russian media, it was reported as being “seriously [...]
Dunelm warns of ‘significant headwinds’ but maintains profit guidance April 14, 2022 Dunelm’s boss warned of increasing financial pressures on shoppers but said the company’s variety of products would help it continue to grow. In an update on the London Stock Exchange, the homeware retailer said it hit £399m in total sales in its third quarter. This was up 69 per cent on the year prior, when [...]
How accountancy can help advance the global economies of tomorrow April 14, 2022 Society’s expectations of business and governments have shifted with speed and intensity. This has been driven by the profound impacts of Covid-19, compounded by deeply alarming threats to peace and prosperity from the war in Ukraine and conflict elsewhere. The humanitarian cost is devastating, while economic growth, public debt and wellbeing have all been adversely [...]
Ed Warner: Docuseries triumph may drive wedge between media and sport April 14, 2022 “Please please please please just go away!” The letter writer signed off with his PS in green ink, only months into my stint as chair of UK Athletics in the days before tweets were a thing. I wish I’d kept it, the only time I’ve seen green ink scrawled in cliched anger. Sports leaders are [...]
City Moves: Who’s switching jobs in the Square Mile? April 14, 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. Brunswick Advisory group Brunswick has bolstered its cybersecurity and data privacy practice with a new partner in London. Nicola Hudson was most recently the director of policy and communications at the UK National Cyber Security Centre. The [...]
Explainer-in-brief: Safety in numbers lures Nordics to Nato April 14, 2022 Finland’s Prime Minister said yesterday the country would decide “within weeks, not months” if the nation would apply for Nato membership. Sweden is expected to follow swiftly as the war in Ukraine forces the Nordics to look at their allies. In Finland, a margin of six to one voters backed membership of the defensive alliance. [...]
Tanker carrying 42,000 tonnes of Russian oil stopped by activists off UK coast April 14, 2022 A tanker carrying 42,000 tonnes of Russian oil was stopped by environmental activists off the Linconshire coast. Greenpeace campaigners confronted the vessel, the Seavictory, near the port of Immingham, demanding it turn around. The boat’s captain said it was carrying Russian cargo – which the UK has committed to banning by the end of 2022 [...]
Musk’s anarchic vision won’t help Twitter but a subscription model might April 14, 2022 In late January, an unknown investor began quietly building a stake in Twitter. A little over two months later, Elon Musk breached the surface. On April 4th, he revealed a 9.2 per cent stake. Though two days later an official filing corrected that to 9.1 per cent, Musk has become Twitter’s largest shareholder. Poor arithmetic [...]
Think tank warns vape bans cause more harm than good April 14, 2022 Countries have been urged to avoid excessive regulation on e-cigarettes and vapes, with a new report suggesting that this could pose an even bigger risk to public health in the long run. In a paper published today, the Institute of Economic Affairs (IEA) argued that reduced-risk nicotine products like heated tobacco have facilitated steep declines [...]
