Britvic cheers strong results as it adds two further brands to its drinks cabinet July 27, 2023 Britvic this morning announced a positive set of third quarter results for the period ended 30 June, with UK revenue leaping 10 per cent on the previous year to reach £476m. The largest supplier of branded still soft drinks in Great Britain, which owns brands such as J20 and Robinson’s, also announced the acquisition of [...]
Iceland looks set to reveal red hot profit amidst supermarket surveillance July 10, 2023 Iceland has revealed forecasts that would mean the frozen food chain makes its highest profit in a decade this year, according to The Times. Iceland said last week in a set of financial results shared with bondholders that this year’s underlying profit will likely be its strongest in ten years. The news comes as supermarkets [...]
Legal & General pull out of investment in electric vehicle firm July 6, 2023 Legal & General (L&G) has pulled out of any future investments into Onto, which is one of Britain’s largest electric vehicle (EV) fleet operators, according to reports from Sky News yesterday. Last year, the asset management and pensions giant led a $60m (£47.3m) funding round into the EV-focused startup. At the time it called Onto [...]
KPMG to cut five per cent of US jobs as demand slows June 26, 2023 Big four accountancy KPMG tonight announced a fresh round of layoffs, with plans to cut five per cent of its US workforce. In an internal message seen by City A.M., US chair and CEO Paul Knopp KPMG said: “We do not make the decision lightly. However, we believe it is in the best long-term interest [...]
One in five UK employers has hired a Ukrainian, report reveals June 26, 2023 Nineteen per cent of businesses surveyed by the Social Market Foundation (SMF) hired at least one Ukrainian national in 2022, a new report published today has shown. In the cross-party think tank’s survey of 2,000 HR managers – conducted by YouGov on behalf of the Chartered Institute of Personnel and Development – the SMF also [...]
The Notebook: Olle Lundin on revolutionising banking, reshaping the fintech landscape and expanding into the UK June 21, 2023 The notebook is written by Olle Lundin, co-founder and CEO of Swedish fintech Froda, which is launching in London As I stand here today, on the brink of Froda’s expansion into the UK market, I can’t help but feel both excited and nostalgic. You see, long before co-founding Froda and embarking on this incredible fintech [...]
Pinewood-owner Aermont to enter £4bn race for Center Parcs June 19, 2023 Specialist real estate investor Aermont is likely to join the £4bn race for holiday resort chain Center Parcs, as reported by Sky News. Aermont, which operates in Europe, would join confirmed bidders KSL Capital Partners operating with Singapore’s Government Investment Corporation, and buyout giant CVC Capital Partners. Former Center Parcs owner Blackstone and infrastructure fund Antin are [...]
‘Constructive’: US and China meet in bid to cool tensions June 18, 2023 US secretary of state Anthony Blinken and China’s foreign minister Qin Gang met today in Beijing to begin a two-day set of talks. Whilst neither side expects a major breakthrough to emerge, US officials said the main goal is to stabilise a relationship that has become extremely tense. The talks come at a time of [...]
Vodafone and Three days away from announcing a UK merger June 7, 2023 Vodafone and the owner of Three network, CK Hutchison, will announce a long-anticipated merger that will see them become the UK’s biggest mobile operator, according to reports. Talks are now in the final stage and an announcement is expected “as soon as Friday or early next week”, according to reports from Reuters. The new company [...]
Mark Kleinman dissects the CBI’s rescue plan – plus the boss of Vashi’s vanishing act and Man U’s other battle June 1, 2023 In five days time, Rain Newton-Smith must deliver the performance of her career. At an extraordinary general meeting of the CBI, she will seek to convince thousands of its members that it should survive the maelstrom which has brought it to the brink of collapse. The cards appear stacked against her. Already, the CBI’s principal [...]
