EU and AstraZeneca hold crisis talks to resolve Covid vaccines row January 28, 2021 The EU and UK-based Covid vaccine maker AstraZeneca have vowed to resolve clashes over supply shortages after “constructive” crisis talks. Production issues means that AstraZeneca can deliver only a fraction of the doses promised to the EU in the first quarter of the year, leading to shortages across the 27-member bloc. The EU has remained [...]
Hunter becomes the hunted: property firm sold to TPFG for £24m January 28, 2021 Real estate firm Hunters agreed this morning to a takeover by The Property Franchise Group (TPFG) to create an enlarged franchised estate agent with just over 400 branches. TPFG is set to acquire Hunters for £24m after the approval of the firm’s founder, chairman and MP Kevin Hollinrake. The acquisition should allow for cost synergies [...]
St James’s Place reports £2.3bn in inflows after ‘extraordinary’ year January 28, 2021 Wealth manager St James’s Place reported £2.3bn of net inflows after an “extraordinary” year which saw its funds under management soar. As of 31 December the firm’s funds under management stood at a record £129.3bn, an 11 per cent increase on the previous year. Despite the pandemic gross inflows of £14.33bn fell just five per [...]
Easyjet revenue collapses 90 per cent amid newest restrictions January 28, 2021 Easyjet today saw total revenue shrink nearly 90 per cent for the first quarter as the coronavirus pandemic showed no signs of abating. The budget carrier started the new financial year as it finished the last one, with revenue slumping to a mere £165m for the three month period. The plunge was announced a day [...]
Tate & Lyle to beat profit expectations as consumers cook at home during lockdown January 28, 2021 Sweetener manufacturer Tate & Lyle is set to beat profit expectations due to strong demand as more people cooked at home during lockdown. The firm, which sold its eponymous sugar brand in 2010, said its food and beverage solutions division recorded sales growth of eight per cent due to higher volumes, good prices and the [...]
Mitie raises full year guidance as Interserve deal beds in January 28, 2021 Outsourcer Mitie today raised its guidance for the full year due to an improved performance in the second half and its merger with Interserve. The FTSE 250 company said that full year revenue would now come in at £2.4-£2.5bn, with profit up to £57m-£61m. Shares in the firm rose 3.1 per cent as markets opened [...]
Office demand drops as Workspace reports 33 per cent fall in enquiries January 28, 2021 Workspace remains optimistic about the future of London’s office work despite a sharp drop in enquiries throughout the pandemic. This morning’s results show the group averaged 672 enquiries per month in the third quarter, a 33 per cent drop from the previous year. Lettings per month also fell by 3.4 per cent to 109, driven [...]
Fever-Tree to beat revenue expectations as supermarket sales soar in lockdown January 28, 2021 Fever-Tree expects to beat revenue expectations for last year following strong supermarket sales of its soft drinks and mixers during the pandemic. The firm said this morning that total revenue for 2020 is expected to be £252.1m, ahead of guidance provided in September. Revenue will be down three per cent on the previous year due [...]
City firms and entrepreneurs back Mail’s laptops for kids scheme January 28, 2021 A number of City of London firms have backed a Daily Mail campaign to provide laptops to underprivileged children during the Covid-19 lockdown. Leading entrepreneurs, including Sir Tom Hunter, have also donated significant amounts. The Mail’s campaign aims to put laptops in the hands of all children who would otherwise be without the technology needed [...]
Wizz Air dives to €116m loss as lockdown restrictions continue to bite January 28, 2021 Budget carrier Wizz Air dived to a statutory loss of $116m (£102m) for the third quarter as further restrictions poured yet more pain on the aviation industry. The Hungarian flier said that revenue plunged 76 per cent in the quarter, falling back to €149.9m. It carried just 2.3m passengers across the three-month period, almost 80 [...]
