Cut the crap: City firms under pressure to strip out shareholder legalese July 27, 2023 Top City firms must ditch impenetrable legalese and dense corporate-speak in their shareholder missives or amateur investors will remain shut out of the market, experts have warned.
Google parent firm Alphabet’s profit ahead of expectations thanks to ad rebound July 26, 2023 Google owner Alphabet’s second-quarter profit exceeded expectations as it announced that long-time CFO, Ruth Porat, would assume a new role while the company sought a new finance chief. Alphabet’s results were helped by steady demand for its cloud services and a rebound in advertising. The shares jumped 8 per cent in after-hours trading. Shares of [...]
Borrowing a Netflix password? You’re part of a generation of customer frauds July 26, 2023 You'd think it's only criminal gangs committing fraud, but if you are returning clothes after wearing them or sharing your Netflix password with friends, you're effectively doing the same, writes Martin Sweeney
LVMH: Demand for leather sends revenues soaring £36.2bn July 25, 2023 Revenues at LVMH reached €42.2bn (£36.2bn) in the first half of the year, as the luxury conglomerate was boosted by demand for leather handbags and fashion goods. The company, which is owned by one of the richest men in the world, Bernard Arnault, said that revenue was up 15 per cent compared to last year [...]
Jaguar Land Rover well in the black as profits jump to £435m July 25, 2023 Jaguar Land Rover (JLR) saw its profits for the quarter surge to £435m, up from £67m last quarter, the firm reported today. Revenues for the three months to June were at £6.9bn, up 57 per cent year-on-year, with the marque’s performance boosted by strong sales and demand for its luxury brands. Production was at its [...]
Food promotions now make up 22.5 per cent of grocery sales – and it’s up a fifth from last year July 25, 2023 Promotions on food and other items now account for 22.5 per cent of grocery sales, as Brits continue to seek out bargains amid the cost of living crisis. The figure has risen from 20 per cent last year in the same period last year and is the highest over the past 12 months excluding Christmas and [...]
Share buyback on the way at Wickes as it puts post-pandemic lull behind it July 25, 2023 An “encouraging” first half of the year for home improvement retailer Wickes has led the company to launch a share buyback scheme The DIY and garden centre firm reported sales growth of three per cent in the second quarter of the year, and 0.7 per cent in the first half overall. Following its positive results [...]
Matalan: Rainy weather and shift back to stores leads to revenue slump July 24, 2023 Matalan reported a challenging first quarter as poor summer weather impacted sales against the backdrop of cost of living pressures and a shift away from digital. The bargain homeware and clothing retailer said revenues in the thirteen weeks to 27th of May declined eight per cent to £263m. However, in the five weeks to the [...]
The Notebook: Neil Clifford on dyslexia, profit with purpose and the greatest American asset July 24, 2023 Where interesting people say interesting things. Today, it’s Neil Clifford, chief executive of London luxury brand Kurt Geiger Profit with purpose is keeping us on the right track I left school in 1983 with a single qualification to my name: an O-level in art. I was dyslexic, but I didn’t find that out until years [...]
He shoots, he scores! Akshun man passes excitement of Premier League to Web3 July 23, 2023 Richard Kieswick, CEO and co-founder of Akshun, tells Crypto AM about his multiple lives and how they've all led to Web3 and NFTs.