Social care reform must do more than prop up of a broken system with a bottomless pit of money May 12, 2021 Cries of a missed opportunity for social care reform have been rife following the Queen’s Speech but let’s be honest, we knew it was coming. It doesn’t make the pill any easier to swallow. It’s more than a missed opportunity. It’s an absolute disgrace for a system that has borne the brunt of the catastrophic [...]
UK pub chain Marston’s hunts for new finance boss after CFO promoted to chief executive May 12, 2021 Marston’s is on the hunt for a new finance chief after promoting its current CFO to the pub chain’s top job. Andrew Andrea has been appointed as the brewery group’s new chief executive, and he will leave behind his role as the firm’s chief financial officer when he takes up his new position from 3 [...]
Mears built up sturdy revenue last year, dipping only nine per cent May 12, 2021 Housing and care provider group Mears built up a sturdy revenue of £805.8m last year, dipping only nine per cent, but was still struck by profit losses like most firms in 2020. The group, which manages and maintains 17,000 homes for local and central governments, reported £15.2m worth of losses of £15.2m, for the year [...]
Tony Blair pens withering attack on ‘woke left’, Labour and Keir Starmer after election losses May 12, 2021 Tony Blair pens withering attack on 'woke left', Labour and Keir Starmer
Fashion platform Lyst raises $85m ahead of public listing May 12, 2021 Fashion platform Lyst has raised $85m ahead of its initial public offering as users jumped to 150m. New investors in the ecommerce app include funds managed by Fidelity International, Novator Capital, Giano Capital and C4 Ventures, alongside existing backers Draper Esprit, 14W, Accel, Balderton Capital, Venrex and LVMH. Entrepreneur and strategic advisor Carmen Busquets, who [...]
Tui’s half year revenues drop by nearly €6bn but summer holiday bookings surged in April May 12, 2021 Travel giant Tui took in €700m in sales in the half year to 31 March, down from €6.6bn the year prior, as borders remained closed, and summer holidays looked in doubt as destinations were lockdown. Shares in Tui slumped 3.3 per cent to 413p per share this morning. However, the travel company has since seen a slight [...]
Why you shouldn’t try to time the top of the market May 12, 2021 At the end of March, the S&P 500 index of US large companies was valued at 34 times its earnings over the past 12 months. This is more expensive than at the peak of the dotcom bubble at the end of 1999, when the figure was 31 times. And it’s a long way above the [...]
CEO of Flutter sports betting platform FanDuel steps down May 12, 2021 Sports betting and gaming group Flutter Entertainment has confirmed this morning its FanDuel chief executive officer will exit the top position after four years leading the sports gaming platform. Despite handing in his notice, Matt King has chosen to remain with FanDuel until a successor has been found. “It has been a privilege to lead FanDuel [...]
Guinness owner Diageo restarts £1bn capital return plan after strong recovery May 12, 2021 Shareholders in drinks giant Diageo are set to receive billions of pounds in share buybacks as the firm’s Covid recovery enabled the restart of its return of capital programme. Diageo, the owner of Guinness and Smirnoff, this morning said it was restarting its capital return programme after a strong financial recovery, led by North America. [...]
US investment giant to take London-listed UDG Healthcare private in £2.6bn deal May 12, 2021 UDG Healthcare, the Dublin-based health services group, is set to go private after a subsidiary of US private equity giant Clayton, Dubilier & Rice made a £2.6bn cash offer to buy the firm. Nenelite, an Ireland-based affiliate of Clayton, Dubilier & Rice, today announced the proposed deal, which is subject to shareholder approval and is [...]
