Gambling profits in focus after Euro 2024 scores go in bookies’ favour August 11, 2024 Some of the world’s biggest betting firms are set to reveal whether they have cashed in on a set of major global sporting events, as they prepare for new rules for gamblers in the UK.
Inside Asda’s turnaround plan to win back customers from supermarket rivals August 9, 2024 It’s a difficult time to be at Asda’s helm – with sales down as well as competitors eating into its market share, the supermarket giant has announced an ambitious three-point turnaround plan to stave off further declines. Without a permanent CEO – the position has been empty since 2021 and filled on an interim basis [...]
Virgin Records: Streaming boom and Abbey Road Studios help profit more than double August 8, 2024 The continued boom in music streaming as well as the popularity of Abbey Road Studios among major artists helped Virgin Records’s profit more than double during its latest financial year. The company has reported a pre-tax profit of £76.9m for 2023, up from the £37.2m it posted in 2022. According to newly-filed accounts with Companies [...]
Mark Kleinman: If Britain is open for business, prove it August 8, 2024 Mark Kleinman is Sky News’ City Editor and is the man that gets the City talking in his weekly City A.M. column.
Volvo: Record-breaking year for car maker as UK sales near £2bn August 7, 2024 Volvo's UK sales jumped closer to the £2bn mark after another record-breaking year, it has been revealed in newly filed accounts.
Full list of Carpetright stores saved by Bensons for Beds after collapse August 7, 2024 Almost 20 Carpetright stores have been snapped up by Bensons for Beds following the firm’s collapse last month. Carpetright was rescued out of administration in July but with the loss more than 1,500 jobs. The major carpet and tiling retailer, which is headquartered in Essex, was snapped up by rival Tapi for an undisclosed sum. At [...]
Exclusive: Tories spent £10m exploring scrapped Natwest retail offer August 7, 2024 The Conservative government spent around £10m exploring a now-scrapped plan to sell part of its stake in Natwest to retail investors, with the bank footing most of the bill, City A.M. can reveal.
Spectrum Brands: Profit slashed at Russell Hobbs, George Foreman and Remington owner despite sales surge August 6, 2024 Profit at the UK arm of the group behind Russell Hobbs, George Foreman and Remington was slashed during its latest financial year despite its sales surging by almost £80m. Spectrum Brands, which has its UK base in Manchester, has reported a pre-tax profit of £3.3m for the 12 months to September 30, 2023, according to [...]
Audemars Piguet helps fuel booming UK luxury watch market as sales surge August 6, 2024 The UK arm of luxury Swiss watchmaker Audemars Piguet has hailed its “robust financial health” after its sales jumped during 2023. The division, which is headquartered in London, has posted a revenue of £72m for the 12 months, up from £58.7m. Newly-filed documents with Companies House also show that its pre-tax profit increased from £3.4m [...]
Zalando: Online fashion giant reports strong growth after push into AI August 6, 2024 Online shopping giant Zalando reported strong growth in the second quarter as it leaned into artificial intelligence (AI) in search of a bigger share of the e-commerce fashion and lifestyle market. Adjusted earnings before interest and taxes (EBIT) rose to €171.6m (£147.3m), an 18 per cent rise from £144.8m year on year in the second [...]