UK automotive production outlook downgraded following April slump May 5, 2022 The automotive industry was forced to downgrade its 2022 production outlook after the number of cars built in April slumped 15.8 per cent. Data published today by the Society of Motor Manufacturers and Traders (SMMT) revealed the number of new car registrations fell to 119,167 units due to covid-induced semiconductor shortages. The decline, the data [...]
RIshi Sunak’s father-in-law’s company Infosys is still active in Russia May 5, 2022 The Indian IT giant Infosys, which chancellor Rishi Sunak’s wife has a £400m stake in, is still reportedly operating in Russia. The company committed to “urgently closing down its operations” in the country last month, but the Mirror reported this week it was still working in Moscow. When approached for comment, Sunak’s wife Akshata Murty [...]
Derwent London throws £240m at Moorfields healthcare site May 5, 2022 Derwent London has thrown nearly £240m towards buying a hospital and research centre site, as the capital’s healthcare and pharmaceutical real estate space catches the eyes of investors. The commercial developer has bought the City Road Island site, the location of the Moorfields Eye Hospital and the UCL Institute of Ophthalmology, after the pandemic highlighted [...]
Explainer-in-brief: The cost of delays of the Elizabeth line May 5, 2022 The Elizabeth line is finally due to open on May 24, the week before the Queen’s jubilee. Given the line’s name is an homage to the Queen’s legacy, this almost sounds like perfect timing. In reality, the line has been troubled by four years of problematic delays. It was meant to launch in December 2018, [...]
1 Minute Market Rundown – 5th May 2022 May 5, 2022 Powell Not as Hawkish as Market Priced In…But Not Dovish By Any MeansCrypto Bounces with Risk Assets So the highly anticipated FED meeting came and went and all things considered…we feel we are exactly where we were before the meeting minus a little bit of cleaner positioning in the market. If you will recall yesterday’s [...]
Helios Towers has rising revenue and earnings after Malawi acquisition May 5, 2022 Telecoms firm Helios Towers experienced increased revenue and earnings due to rising demand and recent African acquisitions. The company registered 23 per cent revenue growth and 20 per cent earnings after tax. This comes after its Malawi acquisition too the group into eight markets and more than 10,500 towers globally. “We have seen [...]
Hiscox sets aside £32m to weather impact of war in Ukraine May 5, 2022 Insurance giant Hiscox has ring fenced $40m to weather expected losses from the war in Ukraine, as it quantifies the hit of the conflict for the first time.
Playtech reports promising quarter but remains ‘cautious’ of uncertain macro backdrop May 5, 2022 Gaming software Playtech posted a promising start to the year this morning, with with Adjusted EBITDA for the first three months of more than €100m.
Co-operative Bank posts profitability for fifth quarter in a row May 5, 2022 The Co-operative Bank has achieved profitability for its fifth quarter in a row, after posting pre-tax profits of £30.5m. The Manchester headquartered bank said its profits had increased for the fourth consecutive quarter, as its earnings were bolstered by its mortgage business. The bank said its net income had increased 36 per cent year-on-year [...]
Print revenue plunges for Daily Mirror owner Reach as inflation and global uncertainty scares off advertisers May 5, 2022 Print revenue was down 4.2 per cent for the owner of the Daily Mirror and OK! magazine Reach, as the group grapples with reduced advertiser demand and crippling inflation.
