Legal & General profits over £1bn in a return to pre-covid levels August 4, 2021 Legal & General Group today reported strong financial results for the first half of the year, as the firm remains “confident in our collective and successful emergence from the pandemic.” The London-based asset manager saw a 14 per cent growth in operating profit to £1.1bn, compared with £946m for the same period in 2020. It’s [...]
Sheakespeare on advertising: Monzo need to make noise to get a hearing August 4, 2021 Monzo’s annual report revealed a £114m annual loss – one that, for the second year running, raises “material uncertainty” over its future – and that the bank is under investigation over possible breaches of anti-money laundering laws. So what’s going on-zo? Data from YouGov BrandIndex UK may shine some light on the bank’s fortunes. While [...]
A year on from the explosion, Beirut still a shell of its former self and questions remain unanswered August 4, 2021 One year ago today, the world looked on in horror as Beirut exploded. The monumental blast at what turned out to be a nitrate storage hangar decimated the area surrounding the Lebanese capital’s port and beyond, with the damage estimated to be around $4.6bn. The story is one of grave corruption and mismanagement. Over 2,700 [...]
PMI: Pingdemic crimps UK services industry August 4, 2021 The “pingdemic” has hit activity in the UK services industry as firms struggle to ramp up supply to cope with soaring demand due to severe worker shortages, according to a closely watched survey released today. The latest IHS Markit / CIPS purchasing managers’ index for the UK services industry dropped to 59.6 in July, down [...]
City Moves: Who’s switching jobs in the Square Mile this week? August 4, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. TopHat appoints former McLaren group boss as CFO Goldman Sachs-backed housing company TopHat has bagged McLaren’s former boss as its new chief financial officer to join its King Cross offices. Paul Buddin, who left the McLaren [...]
EU pushes ahead with plan to levy border fee on Brits: Will the UK reciprocate? August 4, 2021 The European Commission has confirmed its plans to charge €7 (£6.20) to travellers visiting Europe from non-EU states, including British citizens. The fee will apply with the introduction of a European Travel Information and Authorisation System (ETIAS) before the end of 2022. It will be a one-off fee valid for multiple entries over three years, [...]
Take ‘golden share’ in British defence firms to block foreign takeovers, urge MPs August 4, 2021 MPs on the influential defence select committee have urged the government to acquire “golden shares” in firms integral to upholding UK national security. The move would enable the UK government to prevent British businesses critical to maintaining national security from falling into the hands of foreign purchasers, committee members said. Read more: Meggitt shares keep [...]
Rolls-Royce finally gets Norwegian unit sale across the line with £54m Langley deal August 4, 2021 FTSE blue-chip Rolls-Royce has agreed to sell Bergen Engines, its Norwegian maritime engine manufacturing arm, to UK engineering group Langley Holdings with a new price tag of €63m (£53.6m). Rolls-Royce will retain €110m (£93.6m) from the sale – €70m from the transaction in addition to €40m Bergen currently holds in cash. This is in line [...]
Eurozone retail sales rise above pre-Covid levels to record high August 4, 2021 Eurozone retail sales surged past pre-Covid levels in June to reach a record high, according to new figures published today. Retails sales in the 19 countries that make up the area jumped 1.5 per cent over the last month, driven by consumers returning to high streets, restaurants and bars, although at a slower pace than [...]
Barbie doll created of Oxford Covid vaccine designer Dame Sarah Gilbert August 4, 2021 Barbie maker Mattel has created a doll in honour of Professor Dame Sarah Gilbert, the scientist who designed the Oxford-Astrazeneca Covid vaccine. After a standing ovation at Wimbledon and being made a dame, Gilbert now has the Barbie doll to recognise her efforts in creating a life-saving jab. The vaccinologist said she initially found the [...]
