Facebook owner Meta shells out £149m to break London Regent’s Place lease September 26, 2023 Facebook owner Meta Platforms surrendered one of its two buildings at Regent’s Place, paying £149m at the end of September to break the lease. Property developer British Land revealed that the end of the lease will result in post interest savings of 0.6 pence for the half year. The £149m fee was first reported by [...]
FTSE 100 close: London markets flat as investors digest higher for longer message September 26, 2023 Markets opened lower on Tuesday as markets digested the implications of interest rates having to remain higher for longer.
Card Factory: Profits leap 72.7 per cent amid ‘challenging’ climate before Christmas September 26, 2023 Card Factory has reported a 72.7 per cent leap in profit before tax to the end of July, as the occasion market showed signs of strength despite the cost of living crisis. The seller of personalised celebration cards and gifts said revenues also grew 11.5 per cent to £220.8m as the company’s affordable products appealed [...]
New Bugatti hypercar service centre opens in London September 26, 2023 Does your hypercar need an oil-change? H.R. Owen's new London facility is the only official Bugatti service centre in the UK.
Brexit: Britain to sign sixth US state-level trade deal since leaving EU September 26, 2023 The UK is poised to sign its sixth trade agreement with a US state. Industry and economic security minister Nusrat Ghani will sign a Memorandum of Understanding (MoU) with Washington state in Seattle. The West Coast state is home to major US companies including Amazon, Starbucks, Microsoft and Boeing, with the aerospace sector a priority [...]
ASOS: Transformation plan on track as firm cuts marketing to ‘least profitable’ customers September 26, 2023 Reduced marketing spend and restrictions on buy now pay later have rooted out Asos' least profitable customers
Close Brothers profit halves after Novitas write-offs but boss hails progress September 26, 2023 A strong second half of the year was not enough to stop merchant banking group Close Brothers’ profit halving compared to the year before due to provisions related to legal finance specialist Novitas. In the year to July, operating pretax profit dropped 52 per cent to £112m, down from £232.8m the year before. This mainly [...]
Water companies given £114m performance fine – with Thames Water amongst the worst of the lot September 26, 2023 Debt-laden supplier Thames Water has been 'lagging' in its bid to clean up pollution incidents, plug leakages and improve customer service.
Watchdog: Media is creating a negative “atmosphere” around moribund IPO market September 26, 2023 A top Financial Conduct Authority official has taken aim at the press for creating a negative “atmosphere” for business in the UK and discouraging firms from floating in London.
The Notebook: Victoria Scholar on the future of supermarkets September 26, 2023 Interactive Investor's Victoria Scholar on supermarkets, China's growth and a new podcast in the City A.M. notebook
