Rank Group revenues cut in half as Covid restrictions halt Mecca Bingo income August 19, 2021 Mecca Bingo operator Rank Group has had its income slashed in half over the last year as Covid restrictions buttressed the company’s revenues. The company said income plummeted 48 per cent to £329.6m over the year to June 30. Restrictions on social and face-to-face contact throughout much of the last year to curb the spread [...]
Sir James Dyson: Next generation will suffer if workers do not return to offices August 19, 2021 Sir James Dyson has called on the government to take the “less popular decision” and send workers back to the office. The order to work from home wherever possible was lifted on 19 July, but since then numbers returning to offices has stagnated. Dyson believes the “chances of the next generation will suffer” if a [...]
DP World profits surge as it earmarks $1.2bn for global investments August 19, 2021 Logistics giant DP World has seen its profits surge in the past six months, as it earmarks $1.2bn worth of capital expenditure for the rest of the year – with a portion going to the UK’s London Gateway and P&O Ferries. Revenue hit $4.94bn in the six months to 30 June, up 21.3 per cent [...]
The World Health Organisation’s war on vaping is a lesson in terrible risk management August 19, 2021 Pfizer has been having problems with its stop-smoking drug varenicline, known as Chantix in the USA and as Champix in the UK. It has had to recall batches of the drug because it contains quantities of a carcinogen that exceed the Food and Drink Administration’s safe level. The FDA isn’t enforcing the recall, however. Instead, [...]
Bridgestone Tyres: A tale of two Olympic Games August 19, 2021 Thanks to Covid-19, the recently-concluded Tokyo Olympics was always going to be a unique Games:from the complete lack of in-person spectators, to the cardboard beds (allegedly, but not actually)designed to stop athletes from getting too friendly in between events. But with peak viewing figures lower than half of those for Rio 2016 among the BBC [...]
IMF chokes off money earmarked for Afghanistan August 19, 2021 Money bound for Afghanistan has been choked off by the International Monetary Fund as the West pushes to prevent financial resources from reaching the Taliban. £268m was due to be sent to the country by the IMF on Monday. However, the organisation announced today it has suspended sending money to the country due to a [...]
The prodigal son returns: The hunger for Bitcoin signals an appetite for hard money August 19, 2021 This week marks 50 years since President Richard Nixon announced the US would abandon the Gold Standard. Instead of redeeming the dollar in gold, the government allowed its value to float freely on the market. So began a sharp devaluation of the world’s reserve currency of choice under the US-led Bretton Woods system. Priced in [...]
Indy Hothi CA: “You cannot witness the devastation around you and not feel compelled to do something.” August 19, 2021 This article first appeared in ICAS’ CA magazine. ICAS Deputy President Indy Hothi CA says his work at Khalsa Aid International is just one example of how accountants can use their skills to support their chosen causes. Back in 2014, parts of Bosnia and Serbia suffered their worst floods since records began some 120 years ago. [...]
‘Pingdemic’ suffocates pubs and restaurants as growth slows for first time since March August 19, 2021 Worker shortages triggered by the “pingdemic” are hitting pubs, bars and restaurants’ trading, according to fresh figures released today. According to Lloyds Bank’s UK recovery tracker, output at food and drink businesses dropped in July as a result these firms struggling to scale supply amid staff shortages and high rates of self-isolation. Output at food [...]
John Lewis launches investment products as it looks beyond retail for revenue August 19, 2021 John Lewis has today launched investment products for the first time ever, as the retailer ramps up its plans to find revenue streams in other sectors. Entering the investments market is, the company said in a statement, part of its longer term ambition for 40 per cent of the company’s profits to come from outside [...]
