On the Beach’s boss to step down as group returns to black for first time December 8, 2022 On the Beach’s boss Simon Cooper is set to step down just as the group returns to profit for the first time since the pandemic hit. Cooper, who founded the beach holiday retailer in 2004, will leave within the next year and will be replaced by the firm’s current chief financial officer Shaun Morton. The [...]
Building gains: Balfour Beatty lifts end-of-year outlook after profit and revenue boost December 8, 2022 Shares for UK-based infrastructure giant Balfour Beatty were up 2.2 per cent following a boost in expectations for revenue and profit. The construction company said it was five per cent ahead of 2021’s £16.1bn in terms of its order book, as it raised expectations for its full year report. Balfour Beatty also raised prospects for [...]
Explainer-in-brief: Conservatives’ money problems December 8, 2022 The Conservative Party is hiking its membership fees. Annual membership will go up from the current £25 to £39. The move might prove yet another point of friction in the party, with Conservative MP Justin Tomlinson calling it an “absolutely stupid idea” on Twitter. Yet the party’s headquarters must have felt they didn’t have many [...]
British American Tobacco doubles down on vaping as smoking industry shrinks December 8, 2022 British American Tobacco (BAT), one of the world’s largest cigarette suppliers, has doubled down on its new categories such as vaping as the tobacco industry shrinks. The London-listed company’s revenue has grown in the past few months, despite the public in both Europe and the US leaning away from smoking. The shift away from smoking [...]
KPMG’s UK business fined over widespread exam cheating scandal December 8, 2022 The USA’s accounting watchdog has fined KPMG $7.7m (£6.3m) and sanctioned four of its auditors over a series of international offences, including its failure to properly deal with a widespread UK cheating scandal. The watchdog claimed hundreds of KPMG’s UK staff cheated on exams, including the tests auditors are required to pass to maintain their [...]
Investors flee UK funds amid recession, pulling over £1bn from market December 8, 2022 Investors have fled UK-focused funds in recent weeks, pulling more than £1bn from the market as the country plunges into a recession, according to a study. Fears that the economic downturn will last longer in the UK than elsewhere have plagued the investor community, according to fund flows data provider Calastone yesterday. Most European funds [...]
In The Style owners mull sale as founder returns to head fast fashion retailer December 8, 2022 A sale of fashion firm In The Style is being considered while the retailer’s founder will return to head the firm next year. Investment bankers at Lincoln International have been hired to assist with a strategic review of the firm, which may result in a sale of the firm or some of its assets. The [...]
Wiesmann Project Thunderball 2022 review: High voltage! December 8, 2022 Wiesmann used to build sports cars powered by BMW V8 and V10 engines. Now it's gone fully electric. Tim Pitt drives Project Thunderball.
Frasers reaps rewards of e-tailer takeovers as sales swell December 8, 2022 Sports Direct owner Frasers has seen profit leap up after a slew of high street and e-commerce acquisitions, backing its full-year expectations. The House of Fraser owner said it was confident in existing guidance for adjusted profit before tax of between £450m to £500m for this financial year. The retail titan posted a 53 per [...]
Try as Sturgeon might, Scotland can’t overcome the problem of geography December 8, 2022 There is a saying in Mexico, “So far from God and so close to the United States”, to explain how its proximity to a richer and larger neighbour has stunted its development and bedevilled its politics. They would likely have short shrift then for the plight of Scotland, which once dreamed of conquering Panama, and [...]
