UK GDP falls in Q1 but Sunak confident in recovery after March rebound May 12, 2021 Britain’s economy grew by a stronger-than-expected 2.1 per cent in March, picking up speed in what Chancellor Rishi Sunak expects to be a sharp economic comeback. The monthly growth beat economists’ predictions of a 1.3 per cent leap, the Office for National Statistics said this morning. “Despite a difficult start to this year, economic growth [...]
Commerzbank raises outlook as it posts surprise first quarter profit May 12, 2021 Commerzbank raised its revenue outlook this morning as it surprised investors by posting a profit after a period of strong trading commissions. The German bank said its better-than-expected performance came down to higher net commission income from securities trading. It posted a net profit of €113m in the three months to 31 March, against a [...]
Frost: Post-Brexit Northern Ireland treaty not ‘sustainable for long’ May 12, 2021 The post-Brexit Northern Ireland treaty will not be “sustainable for long” without significant changes, according to Boris Johnson’s minister for UK-EU relations. Lord David Frost said the Northern Ireland Protocol, which sees Northern Ireland follow EU customs union and single market rules, posed “significant challenges” for businesses, while urging the EU to act with “common [...]
Cost cutting drives National Express profit growth in first quarter May 12, 2021 Cost cutting helped coach operator National Express secure profit growth in the first quarter despite fewer journeys being taken during the pandemic. The travel company said performance is improving despite ongoing Covid restrictions, with April revenue up 50 per cent compared to last year, at the height of the first lockdown. Revenue is 16 per [...]
Ethereum flips Visa, Palantir goes all in on Bitcoin, and EOS comes to the party May 12, 2021 Ethereum has come roaring back to another new all-time high of more than $4,300 this morning, and now has a market capitalisation of just below $500 billion.
British-built Ferrari V12 restomod by RML breaks cover May 12, 2021 The new RML Short Wheelbase is inspired by the Ferrari 250 GT SWB and aims to mix 1950s style with 21st century technology.
Marie Claire US snapped up by Future, after bagging the UK edition last year May 12, 2021 The US edition of Marie Claire magazine has been snapped up by specialist media platform Future this morning, after it bagged the UK edition last year. Under a five-year license agreement, the magazine will boost Future’s global monthly reach to 30m users, taking the company’s users to over 400m. The US edition, a joint venture [...]
SoftBank posts highest-ever annual profit for a Japanese company May 12, 2021 Japanese investment giant SoftBank today reported a record annual group net profit of $45.8bn, putting it among the world’s biggest earning firms. SoftBank’s net income beat the $42.5bn made by Warren Buffett’s Berkshire Hathaway in its last business year and compared to a ¥962bn loss a year earlier. Market enthusiasm for tech stocks drove the [...]
TP ICAP reports revenue drop in the first quarter after market volatility May 12, 2021 TP ICAP reported a decline in first-quarter revenue, reflecting the extent of the impact of the pandemic on markets. The interdealer broker posted a nine per cent fall in revenue to £483m from £530m a year earlier, which the company said reflected the volatility of the market in March last year. It noted revenues in [...]
Redrow appoints property veteran as new chairman as ex-CEO steps down after 20 years May 12, 2021 Redrow has appointed property industry veteran Richard Akers as its new chairman as former chief executive John Tutte prepares to step down after 20 years on the housebuilder’s board. Akers, a former director at commercial landlord Landsec, will join Redrow’s board as chair-designate on 1 June before taking on the role permanently from 15 September. [...]
