A display of innovation and opportunity in the UK’s National AI Strategy November 4, 2021 The UK has published its National AI Strategy representing a step-change in the national industrial, regulatory, and geo-strategic agenda.
Ten entertainment expects to return to profit after record half-term November 4, 2021 Family entertainment provider Ten Entertainment expects to end the year with profits following soaring demand during half-term, and as the group prepares for Christmas. The news, announced by the entertainment group today, marked a turnaround from earlier forecasts of a loss. Although closed for the first 20 weeks of the year due to lockdown restrictions, [...]
Letters: Heathrow on the chopping block – CityAM : CityAM November 4, 2021 [Re: APD tax cut, November 1] Last week’s announcement of a 50 per cent cut to Air Passenger Duty on domestic flights is worrying. Not because we are against flying per se, but because if more people choose to take domestic flights resulting from this cut, as the Treasury predict, then this sets a dangerous [...]
Boohoo close to settlement agreement over fraudulent pricing action November 4, 2021 Online fashion retailer Boohoo has said it is close to a settlement agreement over a class action about misleading customers on pricing. A case filed in California alleged that the Manchester based company offered heavy discounts to US customers based on inflated original prices, which allegedly it had never asked customers to pay in the [...]
Sainsbury’s boss: We’ll avoid worst of Christmas supply issues November 4, 2021 Supermarket Sainsbury’s said it experienced a boost to profit in its half-year results, thanks to higher grocery sales – and its CEO said it was well-placed for Christmas despite supply chain uncertainty. For the 28 weeks ended 18 September, the grocer reported underlying profit before tax of £371m, up 23 per cent versus the first [...]
Revolut backing venture capital firm Draper Espirit portfolio value jumps to £1.3bn November 4, 2021 UK venture capital firm Draper Esprit, which backed fintech star Revolut, expects its gross portfolio value to exceed £1.3bn. The results, predicted for its interim results for the period ended 30 September, would mark a jump of over half a billion pounds compared to the same period last year when the venture capital firm recorded [...]
Superdry ‘recovering well’ from pandemic disruption November 4, 2021 Fashion firm Superdry said it is “recovering well” from the side effects of the coronavirus pandemic. In a trading update for the eight weeks to October 23, it said trading had improved. It attributed most of its recent improvement to e-commerce sales, which were up 6.6 per cent compared to 2019, pre-Covid. It also saw [...]
Customer demand drives Aston Martin to third quarter recovery November 4, 2021 Luxury sports car manufacturer Aston Martin has seen its year-to-date revenues almost treble, rising 173 per cent to £736.4m. Rising wholesales, driven by customer demand as the economy recovers from the pandemic, has led the company into a positive adjusted EBITDA position. It has enjoyed a £190m improvement on last year’s totals, as the adjusted [...]
JD Sports instructed to sell Footasylum after competition concerns November 4, 2021 The competition watchdog has instructed JD Sports to sell Footasylum. The Competition and Markets Authority said that the takeover could lead to a worse deal for Footasylum’s customers. As Footasylum would no longer face competition from JD Sports, customers would have fewer options and could face higher prices, fewer discounts, and less choice of products [...]
Shell boss resists activist’s break-up plan and says oil giant still need fossil fuels November 4, 2021 Shell’s chief executive Ben van Beurden will not split the oil giant into multiple companies, going against what is being pushed for by majority shareholder Third Point. Van Beurden told the BBC the oil giant’s green transition can only be funded by fossil fuels. “At this point in time [the cash] comes from our legacy [...]
