Landmark year: GSK beats quarterly expectations as it plans consumer healthcare spin off April 27, 2022 Healthcare giant GlaxoSmithKline has reiterated its growth outlook after posting first quarter sales of £9.8bn, surpassing analysts’ expectations. The pharmaceutical firm said it anticipated it would deliver sales growth in 2022 of between five to seven per cent at CER and growth of adjusted operating profit of between 12 to 14 per cent at CER. [...]
Business growth boosts London Stock Exchange Group as it avoids big hit from Russia exposure April 27, 2022 Revenues at LSEG have risen 6.3 per cent over the first three months of the year, powered by business growth and high customer retention.
WH Smith returns to profit and hopes to capitalise on travel comeback April 27, 2022 Stationery giant WH Smith has returned to profit and said it was set to reap the benefits of opening a number of new stores in airports as international travel rebounded. In interim results for the six months ended 28 February 2022, the high street named revealed headline profit before tax and non-underlying items hit £14m. [...]
Brexit has led to 62 per cent spike in customs duties for UK firms and consumers up to record £4.8bn April 27, 2022 There has been a 62 per cent spike in customs duties for UK firms and consumers as a result of Brexit, amounting to nearly £5bn. A record £4.8bn was paid in customs duties on imported goods in the last year, up from £2.9bn previously, according to new data by accountancy group UHY Hacker Young. Since [...]
City Moves: Who’s switching jobs in the Square Mile? April 27, 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. Intuit Intuit, the technology platform behind QuickBooks, Mailchimp and Credit Karmahave hired a new vice president and UK country manager. Jolawn Victor has previously held senior roles at QuickBooks and PepsiCo. Joining from popular meditation app Headspace, where she was chief international officer, [...]
Elon Musk wants free speech on Twitter? Time to meet Nadine Dorries April 27, 2022 If Musk thought finding financing would be the most complicated part of the Twitter deal, he hasn’t met Nadine Dorries.
We need to stop comforting ourselves with the myth of the all-powerful central bank April 27, 2022 Inflation continues to be a major problem for policy makers. The annual rate of price increases hit 7 per cent last month and could be in double figures later this year. This projection is far from being a fantasy. On some measures, annual inflation in America is already over 10 per cent. Rather bizarrely, the [...]
UK oil and gas firms dish out £2.2bn dividends after bumper profits April 27, 2022 London-listed oil and gas firms dished out bumper dividends in the first quarter of the year as profits surged on the back of soaring commodity prices.
MPs say government was ‘complacent’ on Covid fraud in new report April 27, 2022 The government was “complacent in preventing fraud” against the Covid Bounce Back Loan Scheme and will lose almost £5bn to scammers, according to a Westminster committee. MPs on the Public Accounts Committee (PAC) said the £47bn loan scheme – which saw the government take on 100 per cent of default risk – was delivered at [...]
Top investors pile pressure on food giants to ramp up health performance April 26, 2022 A group of investors representing £3tn in assets have called on some of the world’s top food producers to ramp up their performance on health.
