‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Analysis: Freedom is on its last legs in Hong Kong as Beijing takes control of children’s books July 23, 2021 It is almost a parody of the stereotypical authoritarian coup. But it’s real, and horrifying. Three members of Hong Kong’s union for Speech Therapy have been arrested for writing a “seditious” children’s book called “The Guardian of Sheep Village”. The story about sheep and wolves has a thinly veiled political message and now seemingly even [...]
Snap shares jump as it smashes user and revenue targets July 23, 2021 Shares in Snap have soared in after-hours trading after the social media group smashed forecasts for its user numbers and revenue in the second quarter. The California-based owner of Snapchat saw its shares jump more than 17 per cent after markets closed as it booked its highest growth rates since late 2017. Daily active users [...]
NatWest’s Ulster bank to sell €7.6bn of assets to Irish bank Permanent TSB July 23, 2021 NatWest’s Ulster Bank is set to sell €7.6bn of loans and 25 branches to Irish bank Permanent TSB, as the British bank backs out of Ireland. Permanent TSB (PTSB) and Ulster Bank’s owner, NatWest, have signed a deal that will see between 400 and 500 Ulster Bank employees’ transfer over. The proposal will also have [...]
Vodafone returns to revenue growth despite pandemic-bruised retail levels July 23, 2021 Vodafone has reported a robust rise in revenue in its first-quarter trading as the company returned to growth in Europe despite not yet operating at pre-pandemic levels. The British telecoms giant pulled in total revenues of €11.1bn (£9.5bn) over the three-month period, up 5.6 per cent on last year. This included a surprise 3.3 per [...]
Klarna-challenger Zilch strikes $110m deal with Goldman Sachs and Daily Mail owner July 23, 2021 ‘Buy now pay later’ (BNPL) company Zilch today announced it has cut a deal to raise $110m (£80m) in debt and equity from Goldman Sachs and the investment arm of the Daily Mail group. The deal with Goldman Sach’s asset management and private credit division and DMG Ventures, part of the Daily Mail & General [...]
Screenshot: Have Bezos and Branson ushered in a new era of space tourism? July 23, 2021 This week **Media Moment of the Week: Badger, mushroom, snake **Have Bezos and Branson ushered in a space tourism boom? **No more chill for Netflix Media Moment of the Week: Badger, mushroom, snake Want to feel old? The iconic animated badger video (you know the one) is now almost 18 years old. Aside from lamenting [...]
Why has north Asia outperformed its south-east Asian peers? July 23, 2021 The success of north Asian countries (China, South Korea, Taiwan) in containing the Covid-19 pandemic last year is well-known. Strict lockdowns and quarantine procedures helped all three countries return to relative economic normality last year while Western economies suffered protracted disruption. China and Taiwan even recorded positive GDP growth for 2020. This success was, in [...]
Ted Baker upgrades London HQ to Gorgeous Brown Building in Fitzrovia July 23, 2021 Ted Baker has traded in its Ugly Brown Building headquarters after 20 years for what will be called the Gorgeous Brown Building in Fitzrovia. The lifestyle and fashion brand had previously owned the Ugly Brown Building in King’s Cross which was sold to British Airways Pension Trustees for £78.8m last year. Shares opened higher in [...]
Twitter beats revenue expectations after advertising revamp July 23, 2021 Twitter has reported better-than-expected revenue growth in its second quarter as the social media site reaped the rewards of an overhaul of its advertising service. The tech firm posted total revenue of $1.19bn in the three months to the end of June, up 74 per cent on the same period last year and ahead of [...]
Bankers, lawyers and advisers set to enjoy £300m in fees from Morrisons sale July 23, 2021 Over £300m in fees stands to be gained by those involved in the £6.3bn sale of Morrisons, documents have revealed according to a report. Shareholders in Morrisons will vote on a £6.3bn takeover bid from a trio of private investment groups led by SoftBank-owned Fortress on 16 August. If the deal goes ahead, private equity [...]
