Mixed bag for Glencore as output levels vary wildly across metals April 28, 2022 Mining giant Glencore endured a mixed bag in its production levels in the first three months of the year amid market volatility.
Standard Chartered wrestles with inflation as it eyes metaverse profits April 28, 2022 Standard Chartered has continued to wrestle with rising inflation, which is expected to hit double digits by the end of this year. The British bank’s income inched some nine per cent higher $4.3bn in the first quarter of this year, while return on tangible equity of jumped a little over 11 per cent. Chief executive Bill [...]
Sainsbury’s warns of lower profit as grocer anticipates inflationary pressures April 28, 2022 Sainsbury’s has warned of a lower profit for the coming year as the grocer faces uncertainties including high inflation and cost of living pressures on shoppers. Sainsbury’s posted underlying profit before tax of £730m for the 2021/2022 financial year, a 104 per cent boost on the year prior, but warned of challenges down the line. [...]
Unilever sees sales and turnover rise as it hikes prices April 28, 2022 Unilever has enjoyed rising sales and turnover levels in the first few months of the year, as it rewards shareholders with a maintained dividend of €0.42 apiece. The consumer goods giant, behind some of Britain’s most loved products such as Ben & Jerrys, Dove, Helmann’s and Magnum, had its turnover jump by nearly 12 per [...]
Ed Warner: Russia ban shows Wimbledon chiefs have backbone – and other sports will take note April 28, 2022 Fans at the Wimbledon Championships aren’t prone to booing, even in the face of a Nick Kyrgios meltdown. And for now they have been spared the challenge to their usual decorum of a Russian or Belarusian player striding onto Centre Court this summer – to the chagrin of the men’s and women’s tours, not to [...]
City Moves: Who’s switching jobs in the Square Mile? April 28, 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. Paysafe Specialised payments platform Paysafe has appointed crypto executive into the newly created role of senior vice president of its crypto division. Elbruz Yılmaz will be tasked with further extending the New York-listed group’s crypto offering, having spent [...]
Look inside: Coca Cola opens first European flagship store in Covent Garden April 28, 2022 Coca Cola has opened the doors to its first flagship store in Europe today, in a vote of confidence for the West End. After a number of stores in the US, including the beverage titan’s home territory in Atlanta, Coca Cola is testing the waters with a UK experiential destination. The store is set to [...]
Barclays secures income and profit growth as it shakes off ex-CEOs woes April 28, 2022 Barclays has kicked off the year with income and profit growth, as it navigates ongoing geopolitical and economic obstacles – and tries to shake off its former CEO’s woes. The British lender reported income was climbing 10 per cent to £6.5bn in the first quarter, alongside profit before tax of £2.2bn – which includes the [...]
New West End Company chief leaves role as chief of business group for down under April 28, 2022 The head of the New West End Company is departing to oversee improvements to Sydney’s Western Harbour shopping district. After six years at the industry body, Jace Tyrell is leaving to head Australia’s first business improvement district (BID), the New Sydney Waterfront Company. NWEC works across 80 streets in the central London heartland, representing 150,000 [...]
Founder culture is a form of tyranny April 28, 2022 Elon Musk may or may not buy Twitter. It was revealed this week that the sale, apparently agreed, has a $1bn break clause. If that sounds like a lot, remember that $1bn is small change to Elon. By my calculation, it is to him what the membership fee at my local, council-run swimming pool is [...]
