Advertising cuts continue to sting Snapchat October 21, 2022 Snapchat’s growth continued to plateau this quarter as the advertising slump continues for the social media company. Falling well below most Wall Street estimates, Snap’s said revenue climbed a humble six per cent to $1,13bn, while net losses widened from $72m to $360m. Adjusted earnings before interest, taxes, depreciation, and amortisation was $73m, compared to [...]
Blues cruise: How Potter’s serene start could prove pivotal for Chelsea October 21, 2022 It has been six weeks since two 47-year-olds took on the biggest jobs of their careers and it’s fair to say that it has gone better for Graham Potter than Liz Truss. While Truss was forced out of Downing Street after 44 catastrophic days as Prime Minster, new Chelsea manager Potter has enjoyed a serene [...]
Retail sales volume fall to 1.3 per cent lower than pre-covid levels as cost of living bites October 21, 2022 Retail sales volumes have plummeted to 1.3 per cent lower than pre-coronavirus levels as rising prices and the cost of living continues to bite. Latest figures from the Office for National Statistics show sales volume on the high street were down by 1.4 per cent in September, though data was impacted by a bank holiday [...]
Truss’ diagnosis of Britain’s growth riddle should be remembered October 21, 2022 The Italian Ambassador to Britain is this week a very grumpy man. The source of his angst is the cover of The Economist newspaper, which this week reads “welcome to Britaly,” alongside a mock-up of Liz Truss as a kind of Milanese Boudicca, branding spaghetti atop her spear and protected by a shield made of [...]
Britannia, Unchained from reality will be the ideological legacy of Liz Truss October 21, 2022 A month ago, just days into her premiership, I wrote that unless Liz Truss learnt to deliver a decent speech, she would be sunk. The prognosis was, it transpired, accurate. But my diagnosis was incomplete: her woeful speechmaking was just one of many political comorbidities. Her primary ailment was ideology. Liz Truss is an ideologue, [...]
Can anyone survive the cacophony of politics by Twitter and Whatsapp? October 21, 2022 It seems to be the fate of any prime minister who models themselves on heavyweights of our past to not so much fall short of them, but absolutely trash their legacy. Boris Johnson’s obsession with being Winston Churchill prevented him from being a prime minister who would even see out his term. Astonishingly, Liz Truss, [...]
What does Liz Truss’s resignation mean for Bitcoin and Sterling? October 20, 2022 The sudden resignation of the Prime Minister today has sent ripples of positivity across the markets where the pound has risen and crypto appears unmoved.
Ovo Energy makes eleventh hour bid to snatch Bulb from rival Octopus October 20, 2022 Ovo Energy has launched a last gasp bid to snatch Bulb Energy (Bulb) from the tentacles of rival supplier Octopus Energy.
Exclusive: West End bounces back with rush for fresh office space October 20, 2022 The West End has come roaring back to life after firms committed 1.2m sq ft of office space in the third quarter. A race for space is also heating up, with the post-pandemic renaissance of the capital’s shopping heartland seeing prime rents for offices soar 6.5 per cent in the past year, data from Knight [...]
Bank of England’s Broadbent urges markets to curb rate expectations October 20, 2022 One of the Bank of England’s top officials has today warned markets not to get carried away with the number of rate rises coming down the line. Ben Broadbent, a member of the monetary policy committee (MPC) and a deputy governor at the Bank, said Threadneedle Street’s internal calculations worked out the response to the [...]