Sales slow at J D Wetherspoon as costs rocket and punters dip May 4, 2022 Sales at J D Wetherspoon dipped four per cent in the third quarter as the pub group struggles to keep pace with pre-pandemic levels.
Aston Martin unveils ex-Ferrari boss as new CEO May 4, 2022 Aston Martin has unveiled an ex-Ferrari boss as its new CEO, to steer the automotive and engineering firm through the energy transition and trim losses. Felisa, formerly the CEO of Ferrari, spent over 26 years with the rival automotive manufacturer. The incoming boss will succeed Tobias Moers, who steps down with immediate effect, but will [...]
Sprinkling local football clubs with money won’t make them sustainable endeavours May 4, 2022 The domestic football season has come to a dramatic close, with two sides from the North West jostling for the title and four London teams competing frantically for the coveted spots in Europe. Since its inception, clubs from these two areas have dominated the Premiership, especially over the past twenty years. Perhaps it is something [...]
HSBC launches $1bn share buyback as break-up rumours swirl May 4, 2022 HSBC has launched a $1bn (£801m) share buyback programme today, as rumours of a break-up proposal swirl. The lender will buy shares for some $0.50 each, in a bid to shrink its outstanding ordinary shares, it said in a regulatory filing this morning. The agreement, where US bank Merrill Lynch will act as principal, will [...]
From Russia with losses: BP counts the cost of Rosneft exit amid escalating windfall tax row May 4, 2022 BP’s decision to pull out of its Russian holdings after the Kremlin’s invasion of Ukraine has blown a £20bn hole in its first quarter finances.
City Moves: Who’s switching jobs in the Square Mile? May 4, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Volterra Fietta Law firm Volterra Fietta has hired a new partner in London, who previously represented Egypt in a case related to Al Jazeera. Gunjan Sharma, who stepped into the role at the beginning of the month, [...]
Klarna set to share customer buy-now pay-later data with credit agencies as regulation looms May 4, 2022 Fintech giant Klarna is set to begin sharing buy-now pay-later (BNPL) information with credit reference agencies as the sector scrambles to get ahead of a regulatory clampdown expected this year.
Spiralling house prices push millions into higher stamp duty bracket May 4, 2022 Spiralling house prices have pushed 4.3m households into a higher stamp duty bracket since March 2020, according to the latest research. The average price of a home has skyrocketed by £29,000 to £249,700 since Covid-19, spurred in part by a city exodus and the rush to get deals done amid the pandemic-era stamp duty holiday. [...]
Sunak must welcome Bitcoin into the financial markets with its core principles intact May 4, 2022 Mainland Brits often joke about their expat compatriots in Gibraltar, saying that watches have to be turned back 20 years when you’re there. Gibraltar has always been a popular target for condescension. Yet this supposedly “backward” place has been consistently ahead of the curve on Bitcoin adoption and regulation. In 2018, the territory was the [...]
IFS: Top City brass pocket decade-beating payouts May 4, 2022 Top bosses in the City are pocketing bumper payouts not seen for a decade, reveals analysis published today by a leading economic think tank. Growth in average pay packets in the Square Mile has far outstripped the rest of the economy since just before the onset of the Covid-19 crisis, according to the Institute for [...]
