Verdict: Bank of England to keep hiking rates to chase historic inflation spike May 5, 2022 The Bank of England will keep hiking interest rates this year in a bid to chase down the highest inflation crunch since the early 1980s. That’s according to City economists, business groups and think tanks who took today’s decision to lift borrowing costs to their highest level since 2009 as a sign of things to [...]
Lufthansa to offset fuel prices following bigger than expected quarterly loss May 5, 2022 Lufthansa said it will offset higher fuel prices in the second quarter of 2022 after it delivered a bigger than expected loss in the first one. Despite narrowing its adjusted loss before interest and taxes from €1.05bn to €591m, the airline’s losses were still higher than the company-provided analyst consensus of €558m. The carrier said [...]
Thousands of Asda warehouse workers back strike action over pay dispute May 5, 2022 Asda workers have voted in favour of strike action in a consultative ballot, with the GMB union saying staff were being “asked to swallow a real terms pay cut.” In a ballot of 8,000 GMB members, covering driver, warehouse and clerical roles, some 95 per cent indicated they were in support of industrial action. Staff have [...]
Trainline focuses on EU expansion but remains in talks with government over rival app May 5, 2022 Trainline said it was focusing on expanding its international presence while remaining in talks with Westminster over the development of a government-funded rival ticketing app. In the 12 months ended 28 February, the company’s international revenues grew 85 per cent to £21m due to sales reaching £418m, while profits soared by 105 per cent. Trainline’s domestic [...]
No delays for pandemic recovery as London City Airport welcomes 35 per cent more passengers May 5, 2022 London City Airport has crowned April its busiest month since the pandemic, after the hub reported a 35 per cent increase on March levels. Over the last month, 256,000 people passed through London City’s gates, up on the 189,000 registered a month earlier. The airport – now at 61 per cent of 2019 levels – [...]
Bentley profit jumps 162 per cent despite lost cargo May 5, 2022 Bentley announced its first quarter profit jumped 162 per cent even though it lost 200 cars in a shipping fire. In the three months ended 31 March, the British luxury car maker posted a €170m (£144.4m) operating profit, while revenues went up to a total of €813m after returns per car increased 15 per cent, [...]
Seraphine: Maternity brand adored by Kate Middleton sees shares plunge as hefty headwinds loom May 5, 2022 A maternity brand whose clothes have been flaunted by Kate Middleton has seen its shares plunge almost 40 per cent after a gloomy forecast. Shares in Seraphine plummeted some 38 per cent on Thursday as the digital-led fashion brand lowered its expectations for the coming year amid war in Ukraine and other macroeconomic headwinds. The [...]
Fund flows show sign of rebound after March exodus May 5, 2022 Fund flows showed signs of recovery in April after outflows surged for a third consecutive month in March in the face of tightening monetary policy and war in Ukraine.
Barratt boss hits out at government’s ‘deeply unfair’ levy to fix cladding crisis May 5, 2022 The boss of one of the UK’s largest property developers has today hit out against the government for its “deeply unfair” levy on housebuilders to solve the cladding crisis. London-listed Barratt Developments has set aside £480m to fix the cladding on buildings it built above 11 metres, however it is expecting to pay another £400m [...]
Binance chips in $500m of Elon Musk’s $44bn for Twitter takeover May 5, 2022 Binance is understood to have ploughed a massive $500m into Elon Musk's $44 billion war chest to snap up Twitter.
