Unilever: Ben & Jerry’s maker appoints new chair as leadership shake-up continues July 28, 2023 Ben & Jerry’s maker Unilever has appointed a new chair as the shakeup of its top team continues. The British company, which makes everything from ice-cream and Hellmann’s to Wall’s, said Ian Meakins will join Unilever’s board on 1 September as its non-executive director and chair designate. He currently serves as the chair of British [...]
FTSE 100: London markets mixed as rate jitters soften Standard Chartered’s boost July 28, 2023 The FTSE 100 had a subdued start to the day as interest rate jitters rippled across the Atlantic and weighed down the boost of Standard Chartered and British Airways owner IAG.
Natwest chair Howard Davies WILL stay on after Nigel Farage Coutts scandal July 28, 2023 Natwest chair Howard Davies said he would stay on as boss of the bank’s board while the lender tries to recover from the scandal involving Nigel Farage’s Coutts bank account. Speaking to reporters after the bank published its results, Davies said “my intention is to continue to lead the board and ensure that the bank [...]
Russia claims it shot down a drone from Ukraine as war enters 18th month July 28, 2023 A Ukrainian drone has been shot down near Moscow, Russia’s defence ministry has said. It is the third drone strike or attempt on the capital region this month. There were no injuries or damage, the ministry added. It did not give details about where the drone was shot down on Friday morning, but said it [...]
Bentley warns of ‘challenging conditions’ ahead as marque levels out following 2022 bonanza July 28, 2023 Bentley posted operating profits of €390m (£335.16m) today, down slightly on the same period in 2022, as the marque levelled out following last year’s earnings bonanza. The luxury carmaker also saw revenues decrease slightly, posting €1.68bn (£1.44bn) against a 2022 figure of €1.71bn (£1.46bn) amid a downturn in global sales of four per cent year-on-year. [...]
How changing a single risk measure could give banks the freedom the economy needs July 28, 2023 In this guest essay, three of the City’s sharpest minds lay out a route for our biggest lenders to get their risk appetite back Since the global financial crisis of 2007/8, banks have been less able to lend to the real economy. Much of their traditional financing activity has been displaced into the more lightly [...]
Cineworld suspends trading on London Stock Exchange as restructuring plans limp on July 28, 2023 Beleaguered Cinema chain Cineworld will suspend its listing on the London Stock Exchange today as it limps on with a restructuring plan to reduce its massive mountain of debt.
AstraZeneca: Revenue boost despite welcome end of Covid-19 jab sales July 28, 2023 Britain’s biggest FTSE firm AstraZeneca reported an uptick in sales as oncology treatments helped pick up the slack from falling sales of Covid-19 medicines. The pharmaceutical company made over $22.2bn (£17.3bn) – a four per cent increase – during the first half of 2023, causing shares to spring over three per cent on market open [...]
Liontrust stretches GAM deadline as spat with Xavier Niel-backed group rages on July 28, 2023 Lonon-listed fund manager Liontrust has stretched the deadline for its potential £96m takeover of Swiss rival GAM today amid a spat with a group of rebel shareholders.
Natwest: Alison Rose signs off with bumper profit even as bad loan provisions double July 28, 2023 Natwest announced a new share buyback scheme after beating expectations in the second quarter, but cut its guidance as customers increasingly seek out higher rates on their deposits.
