Banknote printer De La Rue bags Bank of England contracts for new notes May 26, 2021 Banknote printer De La Rue has today reported it halved its net debt in the year to 27 March with Covid ‘turnaround’ measures, ahead of the group’s new £50 banknote due for release next month. Already creating a new banknote making its way to people’s pockets in June for the Bank of England (BoE), the [...]
Baked goods maker Finsbury Foods whisks up dividends for June May 26, 2021 Baked goods maker Finsbury Food had a stronger second half to its financial year, the group said this morning, expecting a profit before tax of at least £15m. Its profit before tax is ahead of market expectations, the cake maker said, as it prepares to reintroduce its dividend for the year ending 26 June 2021. [...]
BoE policymaker urges regulators to probe $10bn Archegos collapse May 26, 2021 A Bank of England’s policymaker has urged that financial regulators today should have a cross-border inquiry into how the collapse of US investment fund Archegos cost banks more than $10bn. Anil Kashyap, a BoE financial policy committee member, also warned that new European Union bank capital rules could have “tragic” outcomes if abused. Archegos collapse [...]
City Moves: Who’s switching jobs in the Square Mile this week? May 26, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Johnson & Johnson hires EU consumer health director US pharmaceutical giant Johnson & Johnson has hired a new London-based area managing director for consumer health in northern Europe. Charmaine England, who [...]
Ready, set, go: Britain is bound for the next space race May 26, 2021 The UK is bound for a seat in the next space race, the transport secretary has said today, as the government preps for Virgin’s commercial Orbit mission – the UK’s first space-bound flight. The National Space Agency (NSA) confirmed on Monday that spaceflights will soon be a reality as the government has funded spaceports that [...]
Mitie: Covid and hybrid work prompted a makeover for cleaning tech – a mop and bucket won’t cut it May 26, 2021 The pandemic has given society the breathing space to redesign what a workplace should offer and in the age of the invisible virus, the humble mop and bucket won’t cut it. After a socially starved year, offices will likely become more collaborative and social in the future, adopting measures like ‘hot desking’. But these [...]
Tool hire services Speedy sheds half of debt ahead of B&Q trial May 25, 2021 Equipment and tool hire services Speedy reported strong net debt levels this morning, as the company revealed it shed £46.1m in debt over the pandemic and saw its dividends double. Despite revenue falling 10.6 per cent to £363.6m, in the year ended 31 March 2021, Speedy enjoyed a sturdy start to 2021’s financial year with [...]
Over half of financial services professionals claim ‘greenwashing’ is rife in the industry, study says May 25, 2021 More than half of financial services professionals believe ‘greenwashing’ is rife within the industry, according to a study released today, as employees fear competitors intentionally inflate their sustainable practices. The study by data agency iResearch Services, which polled 550 decision-makers at financial institutions, also found that 38 per cent believe every business is operating ‘unethically’ [...]
Iceland’s startup airline PLAY will be bound for London Stansted in June May 25, 2021 Iceland’s newest airline PLAY has launched its ticket sales for seven destinations across Europe, with its inaugural flight bound for London Stansted on 24 June. Giving away 1,000 free tickets, the startup airline saw them all snapped up within 3 hours of its website going live last week. The Stansted flights are set to run [...]
Grocery sales: Ocado on top as supermarkets snag 58m more visits as UK exited lockdown May 25, 2021 As the UK’s vaccination programme pushes on, supermarkets have enjoyed 58m more shopping visits in the first quarter of this year than last year, according to industry data released today. Supermarkets actually had more visits in the 12 weeks to 16 May, than when panic buying gripped shoppers at the start of the pandemic, market [...]
