Branch banking to be dead and gone in Europe by 2025 March 10, 2022 Banking through physical branches could phase out by 2025, a new survey has revealed, as the pandemic-era push to online holds its momentum. Nearly 70 per cent of European banks, surveyed by the Economist Intelligence Unit (EIU) and Temenos, said that brick and mortar banks will be dead and gone in just three years. It [...]
Higher return rates impact Boohoo’s sales growth March 10, 2022 Boohoo said today its net sales growth in the fourth quarter of FY22 was impacted by Brits’ post-pandemic ‘buy before you try attitude’ . The company explained that the higher rate of items returned was due to changing consumption patterns, as people shifted from buying more ‘athleisure’ during the pandemic to mixing it up with [...]
Google searches for ‘WW3’ up 75-fold since Russian invasion of Ukraine March 10, 2022 Google searches for ‘WW3’ have skyrocketed by 75-times the usual rate in wake of Russia’s invasion of Ukraine. As tensions continue to mount between Moscow and Kyiv, UK internet users expressed their fears about it engulfing the rest of Europe, by asking the search engine giant if it might spell the start of a third [...]
London a £106bn key driver of surging global online sales in wake of pandemic March 10, 2022 London was at the forefront of soaring global online shopping, with record-breaking investment in the capital last year. As the world emerged from the pandemic, retailers took in more than $140bn (£106bn) from web-based sales in 2021 – more than double the previous year. Following numerous lockdowns which led to a spike in virtual shopping, [...]
Broadcaster STV records highest revenue, lowest debt and best viewing share since 2008 March 10, 2022 Scotland’s free-to-air broadcaster STV capped off an “exceptional” 2021 by recording its highest revenue, best viewing share and lowest level of debt since 2008. The network registered a 35 per cent increase in revenue from two years ago, with a near 40 per cent operating profit. Its chief executive also said the company dramatically slashed [...]
Business lender Funding Circle beats expectations with £64m profit March 10, 2022 Small business lender Funding Circle beat expectations today as it surged back to profitability following a hit through the pandemic in 2020.
Balfour Beatty’s results exceed expectations prompting £150m buyback March 10, 2022 Balfour Beatty’s results have exceeded expectations and prompted a £150m share buyback programme, the company said today. In the year ended 31 December, the company’s profits soared 286.3 per cent to £197m, while gains from earnings-based businesses went up to £181m, exceeding analysts’ expectations. “In 2021, despite the challenges presented by Covid-19, we have delivered [...]
ITV posts Kingfisher chair Andrew Cosslett to board March 10, 2022 Kingfisher chair Andrew Cosslett has been appointed chair designate and non-executive director of broadcasting giant ITV. Stepping onto the board at the beginning of July, Cosslett, a who succeeds Peter Bazalgette, will remain chair of the board at Kingfisher. The incoming board member will take up his role as non-executive chair when Bazalgette steps down [...]
Just Group reinstates dividend following 12-months of growth March 10, 2022 Just Group has reinstated a dividend, which is expected to grow over time, rewarding shareholders following 12-months of growth. The “sustainable” dividend of 1p per share will swell from 2021’s pro-forma base level of 1.5p, the retirement group said in its latest financial update today. Retirement income sales jumped 25 per cent to £2.7bn in [...]
Savills profits surge as global real estate market comes roaring back March 10, 2022 Estate agent giant Savills reported a surge in profits today as the housing market came roaring back from a pandemic-induced slowdown in 2020.
