Hearty: Kraft Heinz carried by packaged meal demand as it reinstates dividend August 4, 2021 Food giant Kraft Heinz has been carried by strong demand for snacks and packaged meals which has boosts sales and profits, pushing it past analyst forecasts. Kraft Heinz recorded net sales of $6.6bn in its second quarter to 26 June – inching past estimates of $6.5bn. The Chicago-based group is also set to reinstate a [...]
Taylor Wimpey revenue jumps 190 per cent after building record number of homes August 4, 2021 Housebuilding group Taylor Wimpey has built a record number of homes in the past six months, which has given its revenue a well-needed uplift. The housebuilder completed some 7,303 homes in the six months to 4 July, up from 2,771 in the same period last year. Shares were up three per cent in its afternoon [...]
City Moves: Who’s switching jobs in the Square Mile this week? August 4, 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. TopHat appoints former McLaren group boss as CFO Goldman Sachs-backed housing company TopHat has bagged McLaren’s former boss as its new chief financial officer to join its King Cross offices. Paul Buddin, who left the McLaren [...]
British beauty: THG bags makeup retailer Cult Beauty for £275m August 4, 2021 Digital brands group THG has bought British makeup retailer Cult Beauty for £275m, which has bolstered the group’s brand offering by a further 200. THG, which already owns Eyeko and Illamasqua, will also bag the online beauty retailer’s 1.7m customers and 1.6m Instagram followers – which prove to be quite the acquisition when dealing with [...]
Johnson meets with Lukashenko’s opposition after disputed election August 3, 2021 Prime minister Boris Johnson met with the leader of the Belarusian opposition party today as tension between the country, its people and the rest of Europe swells. Meeting at Downing Street earlier today, Johnson condemned current leader Alexander Lukashenko’s regime and persecution of opposition voices like Svetlana Tikhanovskaya and her husband. Tikhanovskaya ran as the [...]
Amazon meddled with a union election, US labour watchdog says August 3, 2021 E-commerce giant Amazon has meddled with a union election by not ensuring ballot privacy and handing out paraphernalia that discouraged organising, according to the US labour watchdog. The National Labour Relations Board (NLRB) had been investigating a number of alleged illegal actions during Amazon’s union drive. In its latest report, the NLRB issued recommendations that [...]
China’s Wuhan to test all 12m residents after just three Delta cases found August 3, 2021 China’s Wuhan is set to test all 12m residents after just three Delta variant cases were spotted in the city, but fears of it spreading grow. The country’s levels of the Delta variant are still relatively low in comparison to the UK, with total cases standing at just 414 for the entire country. The Delta [...]
Over 100 Amazon Prime Air staff let go as drone deliveries fail to get off the ground August 3, 2021 More than 100 Amazon Prime Air employees have lost their jobs as the project has cut back parts of its UK operations, according to reports. Amazon Prime Air, which launched in 2016, is e-commerce giant Amazon’s delivery division for drones. However, a number of employees on the UK team told Wired that the drone project [...]
Jack Ma’s Ant Group emerges as a steady ship amid China’s tech crackdown August 3, 2021 Fintech giant Ant Group, the brainchild of Chinese billionaire Jack Ma, has emerged a steady ship in its first-quarter amid a rocky political climate in China. Revenue rose to $31.8bn in the three months ending 30 June, a little below analyst forecasts. Following intense scrutiny from local regulators, the Chinese fintech giant has shifted into [...]
Virtual negotiations: COP26 should be an ‘immersive’ hybrid event August 3, 2021 The UN’s flagship climate conference, COP26, should be an ‘immersive’ hybrid event where some negotiations happen virtually, a former climate chief has said. Christiana Figueres, who spearheaded the 2015 Paris Agreement, said it was unlikely 25,000 people would attend the event in Glasgow as originally planned. Organisers must find the “sweet spot” that allows for [...]
