Issa Brothers double-up Asda and EG Group to create forecourts giant May 30, 2023 Asda has confirmed plans to acquire the UK and Ireland division of petrol giant EG in a deal that will create a UK consumer giant with £30bn-worth of revenues a year. The supermarket, which is headed by the billionaire Issa brothers, has purchased the brothers’ other business, the EG Group, for £2.27bn. Asda is now [...]
Ukraine launches biggest ever drone raid on Moscow in Kyiv retaliation May 30, 2023 Ukraine launched one of its biggest drone attacks on Moscow on Tuesday, according to Russia, whose defence ministry said all were destroyed approaching the city. There were no reports of deaths. Moscow Mayor Sergei Sobyanin said two people were injured, one of whom was hospitalised, in the early morning attack. The residents of several parts [...]
Brits put recession fears aside to bowl strikes at ten-pin operator May 30, 2023 Hollywood Bowl reported record revenues of £110.2m in its half year results this morning, up 20.7 per cent on 2022 amid strong sales, and said it would continue to eye expanding its UK estate and leisure centres. However, the bowling operator reported a drop in its pre-tax profits to £26.7m for the six months to [...]
Property fintech LendInvest sells £243m buy-to-let mortgage portfolio following financing deals May 30, 2023 London-listed property fintech LendInvest confirmed the sale of a £243m buy-to-let mortgage portfolio to digital bank Chetwood Financial. The portfolio includes mortgages originated between 1 March 2022 and 30 November 2022 during which time interest rate hikes reduced the profitability of the mortgages. LendInvest will take a £10.5m loss on the sale which will be [...]
Unilever CFO departs ahead of new CEO’s arrival May 30, 2023 Unilever has announced a shake up at the top with both its chief financial officer and chief digital and commercial officer departing their roles just weeks before new CEO Hein Schumacher takes the reins. Graeme Pitkethly, who headed the consumer goods giant’s finances, is retiring after 21 year at the business. He will retire from [...]
Former Pru CEO and board veteran Jonathan Bloomer to become chair of Hiscox May 30, 2023 Jonathan Bloomer, the current chair of Morgan Stanley International and law firm DWF, will add the top boardroom chair at Hiscox to his portfolio next month. Hiscox, the Bermuda-headquartered insurance giant, announced Bloomer’s appointment as chair designate this morning. He will replace Robert Childs, who will retire over the summer. Bloomer was a partner at [...]
Police Scotland wants to teach the Met a lesson in understanding its racist cops May 30, 2023 The outgoing boss of the Police Scotland has labelled the force ‘institutionally racist’, but the Met police won’t admit the same failing, writes Eliot Wilson
“Robust” trading for listed law firm DWF as Canada transaction set to pay off May 30, 2023 Listed legal and business services firm DWF has this morning delivered an upbeat full-year update to markets, with 8 per cent revenue growth headlining what CEO Sir Nigel Knowles described as a “robust” performance. Revenues are expected to sit around £380m on the year when the company produces its audited full-year results. DWF also said [...]
Morning in the City: Asda-EG tie up, Home REIT update, US debt ceiling talks May 30, 2023 Welcome to the live blog for Tuesday 30 May, after a nice bank holiday weekend!
Kamm 912c is a fresh twist on the Porsche restomod recipe May 30, 2023 With a 190hp flat-four engine and a kerb weight of just 750kg, the Kamm 912c is a back-to-basics Porsche that prioritises driving fun.
