BT blames coronavirus as profit and revenue shrink July 31, 2020 Coronavirus blunted profit and revenue at BT in the three months of lockdown to the end of June, the UK telco said today. The figures Revenue shrank seven per cent to £5.24bn, primarily due to the economic fallout of coronavirus. And profit before tax fell 13 per cent year on year to hit £561m as [...]
Monzo flags ‘significant doubt’ over ability to continue as losses double July 31, 2020 Disrupter bank Monzo has flagged “significant doubt” over its ability to continue as a going concern, after doubling its losses during the pandemic. The figures The bank’s losses widened from £47.2m to £113.8m amid a hiring spree, marketing and US expansion. This came even as revenues more than tripled to £67.2m from £19.7m. Monzo lent [...]
London Stock Exchange considers selling Milan bourse to secure Refinitiv deal July 31, 2020 The London Stock Exchange has said it is considering selling part or all of its Italian stock exchange group in a bid to secure its takeover of Refinitiv. The company said it had begun “exploratory discussions” which could result in MTS, Borsa Italiana’s bond trading platform, or the entire Italian arm being sold. “There can [...]
Arch Co to launch #loveyourlocalarches campaign encouraging local shopping July 31, 2020 One of the country’s biggest small business landlords is to launch a campaign across August encouraging Brits to support their local firms and communities. The Arch Company has over 2,000 small business tenants in London and nearly 4,000 across the UK, most of which are sited in formerly disused railway arches. Alongside Transport for London [...]
Pets at Home shares rise on jump in pet ownership July 31, 2020 Shares in Pets at Home jumped this morning after the retail chain reported a surge in demand for pet ownership after the coronavirus lockdown. Pets at Home said there were “tangible signs” of an increase in animal owners “as people adopt new attitudes to work and leisure pursuits” following the lockdown. A jump in pet [...]
Black Tot Day: Rum to celebrate 50 years since Navy ended daily tot July 31, 2020 It seems hard to believe but July 31 marks fifty years since the last rum ration was served in the British Navy. “Black Tot Day” marks the anniversary of the last day sailors were issue with a daily rum ration – a tradition that began in the mid-17th century. And whilst rum was watered down [...]
TSB swings to a loss due to rise in impairment charges July 31, 2020 TSB has reported a £66m pre-tax loss as credit impairment charges increased by £87.5m in the first half of the year. The figures TSB reported a statutory loss before tax of £65.5m, compared to a pre-tax profit of £21.1m in the first half of 2019. The bank said credit impairment charges increased by £87.5m, which [...]
British American Tobacco beats half-year profit forecasts July 31, 2020 British American Tobacco (BAT) smashed half-year profit expectations for as premium cigarette sales soared and it enjoyed strong demand for vaping products in the US, it said today. The figures The Lucky Strike brand owner posted an 18.8 per cent jump in pre-tax profit to £4.59bn for the six months to the end of June. [...]
Shakespeare: M&S loyalty scheme gives new spark July 31, 2020 High street retailer Marks and Spencer launched their loyalty scheme ‘Sparks’ in 2015, but customer feedback branded it confusing and hard to use. Even CEO Steve Rowe himself admitted it needed “substantial improvement”. Sparks has now been relaunched as a digital-first loyalty scheme offering members instant rewards. For example, one customer at every store will [...]
