Metro Bank reports continued profitability as turnaround efforts slowly bear fruit May 3, 2023 Metro Bank recorded its second consecutive quarter of profitability as the bank’s turnaround plans continue to bear fruit. Although it did not provide details, Metro Bank confirmed in a trading update today it was profitable on a statutory basis in the first quarter of this year. This comes after the bank reported profitability in the [...]
BNP Paribas first-quarter revenue beats expectations as trading outperforms May 3, 2023 BNP Paribas’s first-quarter sales beat market expectations as trading business at the eurozone’s biggest bank outperformed most of its peers, while it started to reap the benefits from rising interest rates. BNP’s quarterly profit more than doubled in the first quarter from a year earlier, bolstered by gains from its much-anticipated sale of its U.S. [...]
Second oil tanker in a week seized by Iran in Gulf – US Navy confirms May 3, 2023 A second oil tanker in a week was seized by Iran on Wednesday in Gulf waters, the US Navy said, the latest escalation in a series of seizures.
“Relationship with a colleague” forces FTSE 100 finance chief to step down May 3, 2023 The chief financial officer at FTSE 100 firm RS Group stepped down today after notifying the company’s board about a relationship with another member of staff. The company, which distributes industrial and electronics products, said that chief financial officer David Egan would leave the business “with immediate effect”. “Very recently I notified the board of [...]
‘UK simply hasn’t gone far enough’ to tackle cost issues for offshore wind – as Brits face extra £530m bill by 2030 May 3, 2023 The UK will fall short of the government's offshore wind targets this decade, with developers facing serious cost challenges for projects.
Bitcoin price pushes upwards as investors wait for latest rate hike decision May 3, 2023 Bitcoin is trading comfortably above $28k and closer to $29k this morning, while Ethereum (ETH) is trading in the green for $1,866.
Morning in the City: News, market updates, and more: LIVE May 3, 2023 Good morning and welcome to City A.M.’s morning liveblog, bringing you all the news and market updates you need to start your day.
Reach sales slump: Mirror, Express and Star publisher says Facebook changes hit digital ads hard May 3, 2023 News publisher Reach reported a slump in sales for the first quarter of 2023, with digital revenue hit by changes to how Facebook presents its news content, the company said on Wednesday. The publisher — those titles include the Mirror, Express and Daily Star — said revenue fell by 5.9 per cent in the four [...]
As FCA rewrites listing rules, another firm ditches London due to ‘regulatory burden’ May 3, 2023 A London-listing and the associated tangle of regulatory red tape inflict more pain on firms than benefits, an AIM-listed renewables firm said today, as it announced plans to ditch its quoted status in the City.
Stellantis revenue jumps 14 per cent as it outlines plan for more electric cars May 3, 2023 Stellantis, the owner of Peugeot and Fiat, saw net revenue climb to €47.2bn (£41.6bn), up 14 per cent compared to the first quarter of last year, the firm said today. The increase was partly driven by a 22 per cent increase in electric vehicle sales globally. In Europe, orders were up six per cent, which [...]
