London dividend payouts slow as mining gravy train runs out of steam September 10, 2024 London investors were left short-changed in the second quarter of the year as miners reined in dividends after years of blockbuster payouts, according to new research. Firms like Glencore and Rio Tinto have formed the bulk of payouts in the City in recent years as swinging commodity prices pushed up profits in the sector. However, [...]
Redbird IMI sells The Spectator to Sir Paul Marshall for £100m September 10, 2024 Redbird IMI has sold The Spectator magazine, part of the Telegraph Media Group, to hedge fund magnate Sir Paul Marshall’s Old Queen Street (OQS) Media for £100m. OQS Media owns and operates the online magazine UnHerd, the Old Queen Street Café, the UnHerd Club and CoEditor Limited, a publishing technology startup. Sir Paul Marshall, also [...]
Lloyds, Barclays and Natwest could weather Labour tax raid, analysts say September 10, 2024 Lloyds, Barclays and Natwest would see their 2024 profits fall by “low single digits” if the Labour government decides to raise taxes on banks in October’s Budget, according to Bloomberg Intelligence. Bloomberg analysts said Lloyds Banking Group and Natwest would likely offset the hit to their profits by repricing their loans, while they did not [...]
Luceco: Sales rise beyond expectations at lighting giant September 10, 2024 Revenue at LED lighting specialist Luceco grew beyond expectations during the first half of its financial year as easing inflation helped to stabilise prices. The London-listed firm, which is headquartered in Telford, saw its sales increase to £109.6m in the six months ending 30 June, 2024, up from £101.1m in the same period last year. [...]
City regulator charges first individual with running illegal crypto ATM network September 10, 2024 The City watchdog has brought its first charges against an individual for running a network of illegal cryptocurrency ATMs.
Gamma Communications eyes move from AIM to FTSE 250 September 10, 2024 Gamma Communications, the UK-based business call services provider, is considering a move to the London Stock Exchange’s Main Market following a strong set of interim results which could potentially see the company moving from AIM to the FTSE 250 Index. Shares in Gamma surged by as much as 10 per cent in early trading on [...]
Ireland must recover £11bn in taxes from Apple, EU court rules September 10, 2024 Ireland is required to recover more than 13bn euros (£11bn) in back taxes from Apple, following a decision of Europe’s top court. The European Court of Justice (CJEU) decision restores a 2016 European Commission ruling that Ireland gave undue tax benefits to Apple, which would be illegal under EU state aid rules. Ireland and Apple, [...]
Concert chaos and fuming fans: What went wrong for festival organiser K-Pop Lux? September 10, 2024 Launched with much fanfare in 2021, British events firm K-Pop Lux was meant to bring the world of Korean pop to European shores. But following three tumultuous years of mounting losses, cancelled festivals and furious fans, the company behind the brand revealed this week it was being forced to wind up its operations. Up until [...]
Capital & Regional: Praxis out of the running to buy shopping centre giant September 10, 2024 Shares in Capital & Regional have fallen by 14 per cent after a prospective bidder for the UK shopping centre owner said it was bowing out of the process. Praxis, a London-based property investor, said it doesn’t intend to make an offer for the listed company – which owns shopping malls in Edinburgh, Hemel Hempstead [...]
Shares in Apple supplier IQE plunge as guidance disappoints and debt pile grows September 10, 2024 Shares in semiconductor supplier IQE plummeted 14 per cent in early trading on Tuesday after it disappointed investors with weak guidance and as it racked up debt. The Cardiff-based manufacturer of compound wafers used to make semiconductors said its full-year guidance lies at the lower end of consensus forecasts of revenue between £130m and 154m. [...]
