BT ‘on path to growth’ despite first-quarter revenue slip July 29, 2021 BT today issued a bullish forecast for its prospects for the rest of the year despite posting a decline in revenue and pre-tax profit in the first quarter. The FTSE 100 firm reported a three per cent slip in revenue to just over £5bn due to the continued impact of the pandemic. This was offset [...]
Airbus raises forecasts after better-than-expected half-year results July 29, 2021 Europe’s Airbus raised its forecasts for full-year deliveries and earnings today after announcing better-than-expected first half results. The world’s largest maker of planes announced that it was expecting to deliver 600 aircraft this year, up from the 566 that they managed last year. Reuters reported yesterday that this was in part due to the financial [...]
Robinhood valued at $32bn as it prices shares ahead of IPO July 29, 2021 Popular trading platform Robinhood has been valued at $32bn (£23bn) after pricing its shares at the lower end of the guidance range ahead of its stock market debut. Robinhood priced its shares at $38 each — the bottom end of its $38 to $42 range — as it gears up for an eagerly-anticipated initial public [...]
Marlboro maker takeover of Vectura raises public interest eyebrows in government July 29, 2021 The takeover of respiratory drug firm Vectura by tobacco company Philip Morris International has raised government eyebrows over public interest concerns, according to the business secretary. The deal, worth more than £1bn, will be ‘closely monitored’ by the government after a letter from Labour shadow ministers urged the government to consider blocking it. Under the [...]
KPMG may rebuild restructuring arm one year after selling it for over £350m July 29, 2021 KPMG is reportedly creating a new division to advise on corporate restructurings, less than a year after it sold its UK insolvency advisory business for over £350m. The big four auditor made the move as a result of new competition laws which made achieving profits from its non-auditing services harder, according to the report in [...]
Rush to beat stamp duty deadline drives mortgage borrowing to record high July 29, 2021 A rush to complete house purchases before the tapering of the stamp duty holiday at the end of June drove mortgage borrowing to a record monthly high, reveal new figures published today. The Bank of England said mortgage borrowing hit £17.9bn in June, surging 163 per cent in just a month from £6.8bn in May. [...]
Shell boosts dividend and launches $2bn share buyback as earnings pop July 29, 2021 Shell said that it would increase its dividend and kick off a $2bn share buyback programme as its second quarter earnings hit their highest levels in two years. The oil giant said that earnings came in at $5.5bn, up 71 per cent on the $3.3bn it took in the same period last year. Increased oil [...]
US steps closer to cryptocurrency tax after last-minute bill addition July 29, 2021 US senators are calling for cryptocurrency transactions to be taxed, in a bid to help pump $28 billion into America’s coffers.
Dominic Raab says only countries with ‘high trust’ could join US and EU in quarantine exemption July 29, 2021 Foreign Secretary Dominic Raab says the introduction of a quarantine exemption for double-jabbed people entering from the US and EU I would only be extended to countries using similar vaccines to the UK. The new exemptions were introduced as part of the government’s “easing out of lockdown” plan, according to Raab. The Foreign Secretary emphasised [...]
HSBC accused of ‘blatant’ forex fraud by former client July 29, 2021 HSBC currency traders in London have been accused of routinely fronting run client orders for extra profits as part of a “blatant and indefensible” fraud by investment manager ECU lawyers. The closing statement comments by lawyers for ECU, which is suing HSBC for currency trades made over 15 years ago, marked the end of a [...]
