Some car firms losing 30 per cent of staff due to ‘pingdemic’ July 29, 2021 Some UK car makers are seeing up to 30 per cent of their staff having to isolate due to the ‘pingdemic’, trade body the Society of Motor Manufacturers and Traders (SMMT) has warned. Speaking at the association’s half-year production briefing, SMMT boss Mike Hawes said that the problem, which has affected many industries, was threatening [...]
Lookers shares drive higher as car dealer upgrades profit guidance July 29, 2021 Shares in car dealership chain Lookers jumped eight per cent this morning after the company told investors it was expecting a higher full year profit. Lookers said in a first half trading update that underlying profit before tax in six months to 30 June is now expected to be approximately £50m, compared to a £36.1m [...]
Weir Group reinstates dividend after ‘strong’ first half performance July 29, 2021 Weir Group has this morning reinstated its dividend after what the engineering group hailed as a “strong performance” over the first half of the year. The FTSE 100 firm said that it would pay out a dividend of 11.5p per share for the period, having cancelled such returns due to the pandemic. The announcement came [...]
CMA hits firms with £100m in fines for making drugs unaffordable for the NHS July 29, 2021 Drug company Advanz, as well as two private equity firms, have been hit with fines of over £100m by the UK’s competition watchdog for hiking vital drug prices. The investigation found that Advanz pushed up prices for thyroid tablet packs, known as liothyronine tablets, more than tenfold. A pack would have cost just £20 in [...]
Informa hikes revenue forecasts on hopes of trade show return July 29, 2021 Informa has increased its revenue forecasts for the full year as the exhibitions group struck an optimistic tone over the return of in-person events. The FTSE 100 company said it now expects to pull in revenue of £1.8bn in 2021, up from previous guidance of £1.7bn. This reflected a “progressive return” of physical events in [...]
Credit Suisse Archegos probe reveals serious management shortfalls July 29, 2021 A lack of accountability and weak internal controls to monitor risk drove Credit Suisse’s $5.5bn loss on investment fund Archegos, according to a damning review published on Thursday. Law firm Paul Weiss, Rifkind, Wharton & Garrisson released the findings of an investigation into the lender’s investment in Archegos. It blamed the losses on poor risk [...]
Tokyo 2020 Olympics: Team GB rowing woe continues as Helen Glover and Polly Swann miss out on a medal July 29, 2021 Helen Glover and Polly Swann were denied the fairytale finish to their Olympic story as they finished fourth on a morning where Team GB’s medal glut at Tokyo 2020 slowed. Having been crowned European champions in the spring, Glover – chasing a third Olympic gold medal – and Swann were thought to stand a good [...]
TSB profits bounceback from Covid lows as mortgage lending recovers July 29, 2021 Profits recovered from Covid lows at bank TSB, driven by the lender reporting lower loan-loss provisions as a wave of predicted defaults triggered by Covid failed to materialise and improved mortgage lending. The bank registered a net profit of £42.9m in the first half of this year compared to a loss of £65.5m in the [...]
Smith & Nephew revenues grew by almost 50 per cent since last quarter July 29, 2021 Smith & Nephew revenues have soared as covid-19 restrictions eased and levels of elective surgery returned towards normal in many markets. The British medical technology firm reported revenues of $1.3bn in its second quarter, up 48.2 per cent and compared with $901m for the same period last year. As a result Smith & Nephew also [...]
Boots, boost: Doc Martens profits up with stores reopening July 29, 2021 Dr. Martens saw a strong first quarter with a significant increase in revenue, even compared to pre-pandemic levels, due to the reopening of stores and continued digital growth. The British bootmaker a revenue of £147.3m for the three months to June 30, a 52 percent increase compared to the same period last year and 31 [...]
