Supermarket till sales down four per cent last month as online shopping and cost of living hit hard April 5, 2022 Supermarket till sales continue to feel the impact of online buying brought about by the pandemic, with a four per cent fall last month. A new study indicates that online sales also fell almost 20 per cent from last year, as the cost of living crisis continues to change consumer habits. The report by NielsenIQ [...]
What does the current volatility mean for energy transition investing? April 5, 2022 The driving forces behind the energy transition remain as strong as ever and the current market volatility has only enhanced these trends. There is a lot going on in the financial markets right now. Meaningful inflation has returned for the first time in decades. Supply chains everywhere continue to be disrupted. Geopolitical and social tensions [...]
March car production falls to lowest in 24 years as markets feel supply chain squeeze April 5, 2022 The UK’s automotive production in March fell to the lowest since 1998 as markets continued to feel the supply chain squeeze. According to data from the Society of Motor Manufacturers and Traders (SMMT), new car registrations fell by 14.3 per cent to 243,479 units while overall the first quarter of 2021 reported a 1.9 per [...]
Huawei employee shareholders rewarded with £7.3bn in dividends April 5, 2022 Huawei’s employee shareholders have been rewarded with 61.404 billion yuan (£7.3bn) worth of dividends, according to a regulatory filing. The Chinese technology heavyweight has not disclosed dividend distribution, but some 131,500 current and former workers are involved with the scheme. It comes as Huawei swallows its first revenue dip on record, with the figures slipping [...]
Letters: Housing, interrupted April 5, 2022 [Re: House price growth hits highest level since 2004 with record average of £265.3k, March 31] New figures released by the Nationwide house price index defy premature predictions of slowing prices in early 2022. An increase in average house prices of 20 per cent in the last two years is a shocking figure which coincides [...]
Morrisons’ new owners green light plans to sell £500m worth of property April 5, 2022 Morrisons’ new owners have rubber stamped plans to sell a £500m property portfolio including manufacturing and distribution facilities. According to Sky News, the supermarket is preparing to appoint advisers to oversee the disposal of certain sites across the country. It comes just months after New York’s Clayton Dubilier & Rice (CD&R) took over the grocer [...]
Government’s plan to redirect asylum seekers to Rwanda grows clearer April 5, 2022 Plans to “outsource” the processing of asylum seekers is reportedly going ahead, with the prime minister expected to make an announcement soon. Boris Johnson wanted to announce a trial of the plans last week, following an uptick in migrant crossing along the Channel, The Times first reported. However, with the plans half-baked, according to [...]
HomeServe accelerates performance amid Covid-19 headwinds April 5, 2022 Home repairs giant HomeServe has accelerated its performance despite Covid-19 headwinds. In the year ended 31 March, overall customer satisfaction and global policy retention went up in line with expectations, from 83 per cent last year to 84. In North America, despite the pandemic’s impact, policy retention remained high, at 85 per cent, while partner [...]
Moonpig ‘permanently uplifted’ after pandemic-era boom April 5, 2022 Moonpig is expecting its revenue for the year to be closer to its pandemic-era figure, after a series of lockdowns spurred activity at the online card maker. The London-listed company has forecast a revenue of around £300m for the year to 30 April, it said in a trading update today, nearly double the £173m it [...]
City Moves: Who’s switching jobs in the Square Mile? April 5, 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. A&O Allen & Overy has added a partner to its international arbitration group, signalling sustained investment in the law firm’s division. Joining from Skadden, David Herlihy brings two decades of experience to the firm, with a focus [...]
