Unilever beats sales expectations and announces €3bn share buyback April 29, 2021 Unilever beat sales expectations in the first quarter and announced it will launch a share buyback of €3bn (£2.61bn) later this year. The consumer goods giant said this morning that it secured underlying sales growth of 5.7 per cent in the first three months of the year, beating analysts’ average forecast of 3.9 per cent. [...]
Aviation woes keep Meggitt pinned down in first quarter April 29, 2021 Aerospace engineer Meggitt said that the ongoing aviation crisis due to the pandemic had continued to hold it back in the first quarter. The FTSE 250 firm said that revenue was down 29 per cent for the period, with its civil aerospace division down 46 per cent so far this year. However, it said that [...]
We need new models of public procurement April 29, 2021 Public procurement has been in the headlines recently, and not for wholly good reasons. During the pandemic, governments around the world have rushed to buy essential kit – including face masks, gloves, medical equipment and vaccines – from suppliers. This scramble has come at a price, with the balance of power moving from the buyer [...]
Standard Chartered profit soars to $1.4bn as Covid19 provisions to cover bad loans go unused April 29, 2021 Standard Chartered this morning posted a higher- than-expected 18 per cent jump in quarterly pre-tax profit, as the Asia-focused bank began recovering from the economic hit caused by the Covid19 pandemic. Pre-tax profit for the three months to 31 March was $1.4bn, up from $1.2bn a year earlier, and well ahead of the $1.08bn analysts had [...]
NatWest beats forecasts as bank returns to profit in the first quarter April 29, 2021 NatWest returned to profit in the first quarter of the year after releasing cash it had set aside to cover bad loans due to the pandemic. The bank reported a pre-tax profit of £946m for the first three months of the year, beating an average analyst forecast of £536m. It exceeds the £519m pre-tax profit [...]
WH Smith launches £325m bond offering as retailer swings to first-half loss April 29, 2021 WH Smith warned it could breach its covenant tests next year as it revealed it swung to a first-half loss and launched a £325m bond offering. The newsagent chain announced yesterday evening that it was possible that “the group would not meet the conditions of the August 2022 covenant tests”. It posted a loss of [...]
French ex-Generals war-mongering will help push mainstream politicians into Macron’s arms April 29, 2021 Unlike most of the developed world, France moves through history not via the serenity of political evolution, but rather through the dramatic lurch of revolution, as the country continues to eye-catchingly over-correct its political failings. The last time this happened was in the heady days of 1958, when an army revolt against the chaotic, parliamentary-dominated [...]
Airbus profits up but crisis ‘not yet over’ for planemaker April 29, 2021 Planemaker Airbus saw its earnings rise in the first quarter but warned that the crisis engulfing aviation due to the pandemic “was not yet over”. The world’s largest commercial jetmaker said adjusted operating profit rose 147 per cent to €694m (£603m) led by its commercial jet and helicopter activities, as revenue slipped 2 per cent [...]
Morgan Stanley: Charities are rethinking their business models and need pro bono advice more than financial support April 29, 2021 This past year of fear, suffering, uncertainty, racial inequity, and social isolation has taught us many things. Among those is how giving back and supporting the charities that are making a difference in our communities is more important than ever. Indeed, charities are experiencing greater challenges than ever before. The pandemic has exacerbated many of [...]
Exclusive: A quarter of Londoners fear capital will lose global status April 29, 2021 More than a quarter of Londoners fear the capital will become less important on the global stage as a result of the dual shock of Covid-19 and Brexit. A survey conducted by market research firm One Pulse exclusively for City A.M. revealed 26.5 per cent of Londoners believe the city will lose international clout over [...]
