US casino operator Bally’s £2bn takeover of Gamesys inches closer August 11, 2021 The co-founder of British betting firm Gamesys has agreed to sell his shares in exchange for those of Bally’s, according to an announcement today, as the £2bn merger moves toward completion. In March Bally’s agreed in principle to buy UK firm Gamesys for $2.7bn (£2bn). Bally’s said it would pay 1,850 pence per share in [...]
Admiral posts strong half-year results as pre-tax profit jumps 76 per cent August 11, 2021 Admiral has posted strong half-year results for the period up to the 30 June 2021 as their decision to adjust pricing on pandemic-related claims looks to have paid off. The insurance company saw its pre-tax profit jump by 76 per cent, from £274.4m this time last year to £482.2m for the six months to 30 [...]
Coinbase takes record $1.9bn in transaction revenue in Q2 August 11, 2021 Coinbase, the world’s second largest cryptocurrency exchange by trade volume, took a record $1.9bn (£1.4bn) in transaction revenue in Q2 of 2021. Trading volume increased by 1,550 per cent hitting $462bn, up from $28bn in Q2 of 2020. Net revenue for Q2 and adjusted EBITDA also increased tenfold, reaching $1.6bn and $1.1bn respectively. Bumper transaction [...]
Fashion retailer The Very Group refinances debt after raising £575m bond August 11, 2021 Online fashion retailer The Very Group has raised a £575m bond that will expire in 2026 to refinance its debt. The bond was raised through the issuing of senior secured notes due in 2026 and will be used to refinance and extend the group’s existing debt. The 6.5 per cent notes were rated “B3 stable” [...]
Gem Diamonds revenue drops slightly as forecast remains on track August 11, 2021 Gem Diamonds reported a 10 per cent fall in revenue for the first half of 2021 due to lower diamond prices and volumes. The firm made $104m (£75m) in revenue from its sale of rough diamonds, down from $115.1m (£83m). The diamond miner, who owns Letšeng mine in Lesotho, recovered 58,831 carats, a slight increase [...]
Provident losses widen as doorstop unit winds-down August 11, 2021 Lender Provident Financial reported swelling losses today as costs ballooned for the wind-down of its doorstep lending unit.. Provident said statutory pretax loss totalled £44.2m in the six months ending 30 June, compared to £28.1m the previous year. Away from its consumer credit division (CCD) however Provident saw adjusted profit jump a hefty from £4.9m [...]
Goodwin see positive final results despite the placement of large capital projects slowing August 11, 2021 Goodwin PLC has posted strong final year results as the impact of the pandemic on the firm appears to have been abated. The pre-tax profit for the engineering company saw an increase from £12.1m to £16.5m for the year up to the 30 April 2021. That was despite a slow down in capital building projects, [...]
DEBATE: Are too many people going to university? August 11, 2021 Another A-level results day has come and gone. After even more disruption during the school year, a record number of school leavers achieved an A or A*, prompting fears there would be too many students who make their grades and not enough places at university. Many have argued the traditional focus on university is outdated. [...]
No place like home: Staycations set to sizzle into 2022 August 11, 2021 Staycations are set to remain the holiday of choice for Brits seeking to avoid the hassle of Covid-19 regulations on international travel. Data from Square indicates almost half of UK holidaymakers plan to continue staycations in the UK instead of travelling abroad until the pandemic is over, or at least until 2022. Cornwall, the Lake [...]
Quilter announces robust interim results as net client cashflow doubles August 11, 2021 Quilter, a British wealth management company, has published robust interim results with net client cashflow doubling compared to the same period in 2020. Net Client Cash Flow saw a year on year increase of 127 per cent in the first half of 2021 reaching £2.5bn while adjusted profit before tax increased by 20 per cent [...]
