TSB chair Richard Meddings to step down after three years March 24, 2021 TSB chairman Richard Meddings has announced plans to step down from his position later this year. Meddings, who became chairman in February 2018, will continue to lead the board while the search for a successor takes place. Is chairman is not moving to another role, but already hold a number of non-executive roles beyond his [...]
BT frontline workers to bag £1,500 bonuses and shares March 24, 2021 BT has offered its frontline workers a bonus of £1,500 in recognition of their efforts to keep its customers connected during the pandemic. The bonus, equivalent to around five per cent of their average salary, is being made to 59,000 workers despite the broadband provider freezing pay across the company. The company is in discussions [...]
Bloomsbury hikes profit forecasts again as Brits binge on books March 24, 2021 Bloomsbury today lifted its revenue and profit forecasts for the second time in as many months as it hailed “exceptional” sales as a result of the pandemic. The publishing house, best known for the Harry Potter series, said it expected revenue of £171m in the year to the end of February, while pre-tax profit is [...]
UK housebuilder Bellway ups selling price expectations and reinstates dividend March 24, 2021 Bellway this morning reinstated its dividend and upped its selling price expectations for this year as the UK housebuilder reported strong demand for new homes. The FTSE 250 developer said the full-year average selling price is now forecast to be more than £295,000, up from a previous estimate of £293,054. It announced it will reinstate [...]
FCA gives tentative go ahead on Amigo’s compensation scheme March 24, 2021 The Financial Conduct Authority (FCA) has said it has no current plans to take further regulatory action against a compensation scheme set up by loans lender Amigo – though it has reserved the right to change its mind. The scheme was set up by Amigo to address compensation for indebted clients who complained about its [...]
Elon Musk: ‘You can now buy a Tesla with Bitcoin’ March 24, 2021 Tesla chief Elon Musk has just revealed his electric vehicles can now be bought using Bitcoin.
Covid-19, a year on: What small businesses have learnt March 24, 2021 In this series, City A.M. looks back at the last year of the pandemic and Covid restrictions and takes stock of its impact on industries and issues at the heart of British society. Read more: Read the full Covid-19, a year on series here. Some you win, and some you learn. Small businesses have certainly been “learning” [...]
UK CPI: Inflation rate falls back in February as discounted clothes offset rising petrol prices March 24, 2021 The UK’s Consumer Prices Index (CPI) slipped in February compared to the previous month as rising petrol costs failed to offset discount clothing and footwear. UK CPI rose 0.4 per cent in the 12 months to February, down from a 0.7 per cent rise in January. On a monthly basis, CPI rose by 0.1 per [...]
Car dealer Pendragon speeds into profit as cost cuts cushion pandemic blow March 24, 2021 British car dealer Pendragon has recovered from a pre-tax loss of £31m in the first half of 2020 to finish the year with an underlying profit of £8.2m. Pendragon said cost cuts helped it report a profit for 2020, compared to a £16.4m loss a year earlier. The firm attributed its recovery to online sales, [...]
Elon Musk allows customers to buy Tesla cars with Bitcoin March 24, 2021 Eccentric billionaire Elon Musk has allowed Tesla customers to pay with Bitcoin, should they want to. Early this morning Musk, who literally changed his job little to ‘Technoking’ of Tesla last week, tweeted: “You can now buy a Tesla with Bitoin”, and “Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat [...]
