Fizzy mixer brand Fever-Tree sees European revenues surge as holiday spots bolster stocks July 20, 2021 Fever-Tree has seen its European revenues surge outside of the UK as hospitality destinations bolstered stock in anticipation of summer holiday goers. However, ongoing travel confusion and ‘Freedom Day’ fears may have knocked investors faith – as it saw its shares plummet 7.10 per cent this afternoon, dragging its total share price to 2,276. The [...]
Covid pastimes: Jigsaws and crafts continue to carry retailer The Works’ sales July 20, 2021 Toys and stationary retailer The Works has continued to have its sales buoyed by consumer lockdown activities in recent weeks, with jigsaws, arts and crafts remaining popular throughout the pandemic. The retailer was hit by severe store closures earlier on in the year but is returning to growth, as sales have lifted 13 per cent [...]
‘Severe consequences’: Israel warns Unilever against Ben & Jerry’s West Bank boycott July 20, 2021 Israel has warned consumer goods giant Unilever of “severe consequences” if its subsidiary Ben & Jerry’s upholds its decision to boycott the West Bank. Vermont-based ice cream company Ben & Jerry’s said it plans to stop selling ice cream in Israeli-occupied territories yesterday. However, Israel’s prime minister Naftali Bennett urged the US to invoke anti-boycott [...]
Foreign investors pile $1.25bn into Indian delivery startup Swiggy July 20, 2021 Indian food delivery startup Swiggy has rallied $1.25bn in its latest fundraiser, as foreign investors pile into the country’s exploding tech-based startup scene. The latest funding round, led by Japanese SoftBank’s Vision Fund 2 and tech investor Prosus, has driven Swiggy’s valuation to hit an eyewatering $5.5bn, according to TechCrunch. The US’ Goldman Sachs and Qatar [...]
£15bn worth of London homes sit empty, as Londoners squabble over supply July 20, 2021 The value of London’s homes sat empty has racked up to £15bn, according to new data, as a rung on the property ladders edges further away from Londoners. London has made a name for itself as a destination for ultra-wealthy buyers to snap up prime real estate as assets and holiday homes, while prospective homeowners [...]
Swiss bank UBS hits highest profits in over five years across all regions July 20, 2021 Swiss bank UBS posted net profits north of $2bn today, as handling assets for the ultra-wealthy proves to be a money-maker for world’s largest wealth manager. Net profits saw a 63 per cent jump in the second-quarter, which exceeded analyst forecasts by more than half a billion dollars. “The momentum is on our side. We [...]
Wholesale group Supreme bets revenues on vaping amid lockdown growth July 20, 2021 Wholesale provider Supreme, the company behind 88Vape, has seen its revenue for the smoking alternative alone lift 36 per cent as lockdown smokers tried to kick the habit. The company’s total preliminary revenue was up 33 per cent at £122.3m in the year to 31 March, up from £92.3m in the year prior. Gross profits [...]
Swiss bank UBS to settle US charges over volatility-tied compliance failures July 19, 2021 Swiss bank UBS’s brokerage branch is set to dish out $8m to settle charges made by the US’ securities regulator over compliance failures. The compliance issues related to the sales of a volatility-linked, exchange-traded product, the regulator confirmed today. The Swiss bank was charged by the US Securities and Exchange Commission (SEC) for failing to [...]
Let’s talk logistics: Transport software firm Microlise to float in London July 19, 2021 Transport logistics software group Microlise is set to list on London’s junior market later this week, as the transport industry seeks to slash emissions amid supply chain struggles. “Our customers are under pressure to meet increased environmental regulations and want more integration across supply chains,” CEO Nadeem Raza said. “The challenges of the pandemic and [...]
Freedom Day: UK runs out of lateral flow tests the day lockdown lifts July 19, 2021 The UK has run out of lateral flow tests for Covid-19, the same day most lockdown restrictions were lifted in the country, which has been coined ‘Freedom Day’. Those trying to buy testing kits from the government’s website have been told that ‘no more tests can be ordered’ and to ‘try again tomorrow’. It comes [...]
