Blockchain and XBRL: the myth January 19, 2021 Currently, many jurisdictions around the world require public companies to produce financial reports using eXtensible Business Reporting Language (XBRL). The myth that blockchain could replace XBRL in the production of financial information is incorrect. Blockchain is not a data standard. And XBRL is not a distributed ledger system. Replacing one with the other would be [...]
Deutsche Bank, ICAP and two German lawyers sued over tax bill January 19, 2021 Deutsche Bank, TP ICAP and two German lawyers are being sued by M.M.Warburg & Co. in an attempt to recoup a large tax bill it was ordered to pay over controversial Cum-Ex trades. The lawsuit was filed at a court in Hamberg, Bloomberg reported, where private bank M.M.Warburg is based. Last week Warburg said it [...]
Deliveroo appoints Next boss Simon Wolfson to board January 19, 2021 Deliveroo has appointed Next chief executive Lord Simon Wolfson to its board as a non-executive director. Wolfson, who has led the high street fashion chain since 2001, took up the role this week. It comes as the food delivery platform gears up for what could be the largest initial public offering of the year. Deliveroo [...]
Greencoat buys 24 per cent Texan wind farm stake from RWE January 19, 2021 UK renewables fund Greencoat has bought a 24 per cent stake in four wind farms in Texas from energy giant RWE. The investment manager will pay $160m for the stake, giving the 207 megawatt project an enterprise value of around $300m. As a result of the sale, RWE will own just 25 per cent of [...]
Business directors removed from UK travel exemption list January 19, 2021 Top business leaders are no longer exempt from UK travel restrictions, meaning they will have to self-isolate for 10 days when returning to the country. Business directors bringing jobs and investment to the UK had been listed as one of the exemptions of the coronavirus quarantine rules. But new changes that came into effect at [...]
Hammerson receives less than half its rent as retailers grapple with Covid January 19, 2021 Hammerson received less than half of the rents due for the first quarter of 2021, as retailers struggled in the face of coronavirus restrictions across the UK and most of Europe. At a group level, 41 per cent of Q1 2021 rent due has been received by Hammerson, with the UK collecting 41 per cent, [...]
AO World revenue surges on demand for electrical goods over Christmas January 19, 2021 AO World reported significant revenue growth in the third quarter after strong demand for electrical goods in the run-up to Christmas. The online electrical retailer reported UK revenue growth of 67.2 per cent to £457.3m, while German sales jumped 77.4 per cent to €73.6m. The company, which sells washing machines, fridges, TVs and laptops, has [...]
Centamin revenue leaps by more than a quarter as gold production thrives in 2020 January 19, 2021 Centamin’s full year revenue has risen by more than a quarter as the gold production firm delivered a strong 2020 performance. Yearly revenue reached $829m, a 26 per cent increase from $658.1m in 2019. Production from the Sukari Gold Mine for the final three months of the year was almost 68,000 ounces, meeting guidance set [...]
Superdry woes continue as it flags going concern doubts January 19, 2021 Embattled retailer Superdry has flagged going concern doubts after lockdown took another hit to its revenue. Superdry’s underlying losses before tax widened to £10.6m from £2.3m in the same period the previous year. Superdry’s share price plunged more than 11 per cent to 213.40p this morning. It came as revenue plunged 23.4 per cent to [...]
Home cooking drives ‘exceptional’ year-end for Mr Kipling owner Premier Foods January 19, 2021 Sales at Premier Foods were up nine per cent in the final quarter of 2020, and 12.5 per cent year-on-year, shrugging off pandemic worries. The business, which owns brands Mr Kipling, Bisto and Oxo, saw branded sales up more than 12 per cent this quarter, and 16 per cent year-on-year, driven in part by lockdown [...]
