Four million Russians to lose their jobs due to Western sanctions August 11, 2022 Four million Russians are set to lose their jobs due to the impacts of Western sanctions, according to new research from the Kyiv School of Economics. The sanctions are set to see Russia’s economy contract by up to 9.5 per cent this year, the study shows. High oil and gas prices have shielded Russia from the [...]
Savills revenue spills into the £1bn mark as boss warns of risk to booming activity August 11, 2022 Estate agency giant Savills has continued to make hay while the sun shines, with revenue spilling over into the £1bn mark. Revenue up over 10 per cent to £1.03bn in the six months to 30 June, up from £932.6m in the same period last year. Like housebuilders, estate agencies have also been reaping the scaling [...]
Covid’s lingering impact drags down Petrofac revenues August 11, 2022 Covid-19’s challenges for the industry are still being felt as Petrofac reported declining revenue in the first half of 2022 at $1.2bn (£0.98), a drop from the $1.6bn (£1.3bn) in the same period last year. The energy services company’s net loss was at $14m (£11.4) with EBIT at $2m (£1.6m), a contrast from the $49m [...]
Coca-Cola bottler details £160.2m hit from Russia sales suspension August 11, 2022 Coca-Cola HBC has revealed it took a hit worth £160.27m after suspending the sale of its beverages in Russia following the invasion of Ukraine. In interim results, the soft drink bottler said it anticipated charges of around £69.17m in the second half of the year after depleting its stocks and suspending production and sales of [...]
Exclusive: Industry body warns against more stringent windfall tax August 11, 2022 Offshore Energies UK has warned against further tampering to the windfall tax, which it believes would hurt investor confidence.
Office giant Derwent London’s rental income swells with demand August 11, 2022 Derwent London has seen its rental income inch closer to £100m in the past six months, as demand for office space in the capital swells. Rental income rose over four per cent to £93.9m in the six months to 30 June up from £90.1m in the same period last year. As the so-called “flight to [...]
Ladbrokes owner Entain creates new venture to drive Central and Eastern European expansion August 11, 2022 Ladbrokes owner Entain has joined forces with an investment firm to create a new venture to fuel expansion in Central and Eastern Europe. Entertain CEE will drive expansion in the markets, in a partnership with EMMA Capital, with Entain owning 75 per cent of the economic rights. The London-listed firm also announced a takeover of [...]
Today: Govt to hold emergency talks with energy chiefs as anger over spiralling energy bills rises August 11, 2022 Energy bosses will meet with Government tomorrow, to discuss how they can ease pressure on consumers facibng record bills.
UK venture capital firm Arix looks to Nasdaq to rebuild portfolio after losses August 11, 2022 UK venture capital firm Arix Bioscience is looking to the US for “undervalued opportunities” in a bid to rebuild its portfolio value after losses this year. The London-listed fund has lost £25m from its portfolio value so far this year, it revealed its in half-year results yesterday, as the pandemic momentum behind acquisitions wanes. The [...]
Fluctuating copper prices result in 30 per cent revenue drop for Antofagasta August 11, 2022 Antofagasta’s revenue dropped 30 per cent to $2.5bn (£2.05bn) in the first half of 2022 as market volatility led to lower copper prices and sales while a drought persisted in Chile. The Chilean mining company reported profit before tax at $680m (£557m), a $1.1bn (£0.9bn) decline from a year before with EBITDA 47.5 per cent [...]
