Ad boss Sir Martin Sorrell says S4 Capital’s results delays are unacceptable and embarrassing’ May 6, 2022 Ad industry veteran Sir Martin Sorell has said month long delay in the release of marketing firm S4 Capital’s results are “unacceptable and embarrassing,” after promising to make “significant changes” to the firm. The WPP founder decried the delays to the publication of S4 Capital’s results, after Big Four auditing firm PwC failed to sign [...]
KPMG ups pay for 15,800 rank-and-file staff by at least £2,000 May 6, 2022 The UK arm of Big Four accountancy firm KPMG is set to give pay rises of £2,000 each to 15,800 of its rank-and-file employees. The auditor said all of its everyday employees will see their salaries hiked by at least £2,000, as it said all staff excluding partners will receive a flat pay rise of [...]
City watchdog to crackdown on adverts that downplay risk of borrowing as cost-of-living crisis bites May 6, 2022 The UK’s financial watchdog has told lenders and brokers to stop using misleading terms in their advertising that might make borrowing money look easier or less risky than it is. The Financial Conduct Authority (FCA) has sent letters to 28,000 consumer credit firms telling them to stop using terms such as “no credit check loans,” [...]
Makeup seller Revolution Beauty’s sales soar after Boots picks up products May 6, 2022 British makeup seller Revolution Beauty Group today vowed to continue selling “quality products at affordable prices” as the firm said strong demand for “mass market beauty” led to its earnings increasing by 73 per cent year-on-year. The cosmetics firm said its UK sales increased 85 per cent over the previous year, following the successful rollout [...]
British Airways owner IAG predicts bounce back to profitability on return of global travel May 6, 2022 British Airways owner International Airlines Group (IAG) today said it believes the easing of global restrictions and the return of global travel will see it bounce back to profitability. The firm – formed through the merger of Iberia and British Airways in 2011 – said its Q1 2022 passenger numbers were 65 per cent those [...]
Self-proclaimed Bitcoin inventor sues crypto exchanges in multi-billion-pound trademark spat May 5, 2022 An Australian cryptographer, who claims to be the inventor of Bitcoin, is suing two of the world’s largest cryptocurrency exchanges over claims they undermined his intellectual property rights by using the name Bitcoin. Craig Wright, who claims to be the real person behind the Bitcoin creator’s alias Satoshi Nakamoto, is suing Coinbase and Payward – [...]
Ex-husband of Formula One heiress accused of taking part in £266m money laundering scheme May 5, 2022 The former husband of Formula One heiress Petra Ecclestone’s played a leading role in a £266m money laundering scheme, a court has been told. Socialite James Stunt took a “a very hands-on approach” to running the operation, which saw millions in used noted deposited into the NatWest account of Bradford gold dealer Fowler Oldfield, prosecuters [...]
Co-operative Bank posts profitability for fifth quarter in a row May 5, 2022 The Co-operative Bank has achieved profitability for its fifth quarter in a row, after posting pre-tax profits of £30.5m. The Manchester headquartered bank said its profits had increased for the fourth consecutive quarter, as its earnings were bolstered by its mortgage business. The bank said its net income had increased 36 per cent year-on-year [...]
Shell’s profits surge amid soaring oil and gas prices May 5, 2022 Shell has continued its rebound from the pandemic, posting profits of $9.13bn in the first three months of the year.
Allianz strikes deal with South African insurer Sanlam to form Africa’s biggest insurance firm May 4, 2022 German insurance giant Allianz has struck a deal with South African insurance company Sanlam to create the biggest insurer in Africa. The deal will see two firms launch a new joint venture that is set to become the biggest pan-African non-banking financial services firm on the continent. The new firm will operate in 29 different [...]
