Mobico shares tumble despite revenue jump as inflation and wage costs bite July 27, 2023 Mobico Group, formerly known as National Express, saw its revenue rise 18.5 per cent to £1.57bn in the first half of the year, as it benefited from rising passenger demand across the majority of its international networks. However, this was not enough to offset rising wage costs associated with inflation and the removal of a [...]
Schroders assets slide as ‘industry headwinds’ shake markets July 27, 2023 Schroders said it continues to grapple with “industry headwinds” today as it notched a slide in assets under management but a boost in profits for the first six months of the year. The London-listed investor said it had seen a bump in operating profit of £341.4m in the six month to June after a sharp [...]
LendInvest founder Christian Faes: Why I left London for California July 27, 2023 Fintech founder Christian Faes tells City A.M. why he's swapped London for California.
ITV earnings plunge over 50 per cent amid ‘challenging’ ad market July 27, 2023 British broadcaster ITV reported a steep drop earnings today as it grapples with the downturn in the advertising market. The streaming giant said their group adjusted EBITA plummeted to 52 per cent to £152m in the six months ending June 30, down from £318m in the first half of 2022. ITV said this reflected “the challenging advertising [...]
Banks dish out £7.8bn in dividends as rising interest rates boost profits July 27, 2023 UK banks have dished out bumper payouts to investors over the past three months as lenders rake in profits on the back of rising interest rates, according to new research. Banks hiked their dividends to shareholders by 61 per cent to some £7.8bn to investors in the three months to the end of June, despite [...]
British Gas rakes in almost £1bn as Centrica unveils near ten-fold earnings increase July 27, 2023 British Gas has posted record profits, fuelled by Ofgem's lucrative allowances in the energy price cap, totalling nearly a billion pounds.
Lookers take-private deal back on the table after fresh £504m swoop July 27, 2023 Car seller Lookers looks set to become the latest firm to be plucked from London’s markets after its board announced a fresh £504m take-private deal after a previous offer collapsed last week.
Wizz Air ordered to review years of falsely rejected compensation claims July 27, 2023 The Civil Aviation Authority (CAA) has taken unprecedented action against Wizz Air due to soaring complaints about the airline falsely refusing passenger compensation claims for flight disruption. The CAA said it has ordered Wizz Air to re-look at a string of claims made since 18 March 2022, meaning passengers who had claims incorrectly rejected “will [...]
Ocado Solutions: Grocery giant’s tech solutions division chief is retiring July 27, 2023 The chief of Ocado’s technology solutions division will retire in September, leaving a new man at the top of the occasionally embattled firm’s most vital division. Luke Jensen will quit the role of executive director and CEO of Ocado Solutions, with John Martin, currently a non-executive director, made the new chief executive. This comes as [...]
Frasers: The boy done good! Ashley son-in-law guides firm to £5bn revenue July 27, 2023 Frasers Group revenues surged 15.8 per cent in the last financial year, totalling £5.56bn, as the retail powerhouse shows signs of performing well under the reign of new chief Michael Murray. Murray, who is the son in law of founder and business tycoon Mike Ashley, took over the business in 2022 after Ashley announced plans [...]
