New ‘Britishness’ requirements for public service broadcasters set out by Govt September 16, 2021 Plans to protect “distinctively British” shows and broadcasters have been set out by the Media Minister today at the Royal Television Society Convention. Media Minister John Whittingdale announced the new rules for public service broadcasters (PSBs) to make “iconic, not generic” British shows in a bid to help them compete with US streaming giants. The [...]
THG targets separate IPO for beauty business September 16, 2021 UK e-commerce company THG said this morning it will spin off its beauty division in a separate listing in 2022, and is also considering stock market listings for its other main ecommerce business, as well as its technology and logistics divisions. A stock market listing comes after THG Beauty – which counts brands such as [...]
Co-op sales fall 3.2 per cent amid food shortages – CityAM : CityAM September 16, 2021 The Co-op has warned that full year profit could be hampered by ongoing supply chain issues after sales fell by 3.2 per cent in H1 2021. Group revenue stood at £5.6bn for the first half of the year, up 4.2 per cent compared to pre-pandemic levels, but a cut below the heights seen last year [...]
Bitcoin protests break out in El Salvador September 16, 2021 Protests in El Salvador turned violent as thousands of demonstrators expressed their anger about Bitcoin becoming legal tender. Yesterday, anti-government marchers took to the streets bearing signs which read “no to dictatorship” and “we were defrauded by Bitcoin”. Bitcoin ATMs, installed ahead of the crypto currency becoming legal tender earlier this month, were burned by [...]
Superdry losses shrink despite subdued high street footfall September 16, 2021 Superdry said store and wholesale revenues were recovering well despite high streets remaining quiet. The fashion retailer reported a pre-tax loss of £37m for the year to April 24, compared with a £167m loss from a year earlier. Revenues fell 21.1 per cent to £556m for the year after a number of lockdowns across key [...]
John Lewis posts £29m pre-tax loss after restructuring costs September 16, 2021 John Lewis has reported a pre-tax loss of £29m for the year’s first half, after restructuring costs. However, the high street giant said its half year results ending July 31 marked a significant improvement on last year’s pre-tax loss of £635m. Profit before exceptional items was £69m, up £124m on the comparable period last year, [...]
Rallying travel stocks lift FTSE 100 – CityAM : CityAM September 16, 2021 London’s FTSE 100 climbed during opening exchanges today, lifted by a rally among travel stocks that helped to reverse yesterday’s poor performance. The capital’s premier index gained 0.44 per cent to hit 7,047.52 points, cancelling out losses registered on a choppy day on London markets yesterday. Also Read: Pre-departure Covid tests may be ditched to [...]
Kier back in profit after turnaround process completed September 16, 2021 Construction firm Kier crept back into profit today after two years of hefty losses after completing its reset of the company’s operations. The London-listed firm made a £5.6m reported profit, swinging back into the black after a £225m loss last year. It said that it would use the £351m it has gathered through the sale [...]
Bitcoin protests break out in El Salvador – CityAM : CityAM September 16, 2021 Protests in El Salvador turned violent as thousands of demonstrators expressed their anger about Bitcoin becoming legal tender. Yesterday, anti-government marchers took to the streets bearing signs which read “no to dictatorship” and “we were defrauded by Bitcoin”. Bitcoin ATMs, installed ahead of the crypto currency becoming legal tender earlier this month, were burned by [...]
John Lewis posts £29m pre-tax loss after restructuring costs – CityAM : CityAM September 16, 2021 John Lewis has reported a pre-tax loss of £29m for the year’s first half, after restructuring costs. However, the high street giant said its half year results ending July 31 marked a significant improvement on last year’s pre-tax loss of £635m. Profit before exceptional items was £69m, up £124m on the comparable period last year, [...]
