Burford Capital posts profit bump as it hits back at critical analyst July 25, 2019 London-listed litigation funder Burford Capital today announced that its profit after tax grew 36 per cent to $225m (£180m) in the first half of 2019. The funder said litigation investment income in the six months to 30 June hit $264m, up 36 per cent from the same period the previous year. Burford said investment returns [...]
O2 will launch 5G network in London and five other cities in October 2019 July 25, 2019 O2 has revealed it will switch on its 5G network from October, aiming to go live in 20 towns and cities by the end of the year, including London, Leeds, Edinburgh and Cardiff. Belfast and Slough will also get 5G first in O2’s first wave of launches, as it races to bring that number to [...]
Britvic revenue slumps in challenging market July 24, 2019 Drinks producer Britvic warned this morning that revenue dipped in the third quarter of the year due to a “more challenging” market. The company, which owns brands such as 7up, Tango and Robinsons, said revenue was £360.1m, a decrease of 1.5 per cent on last year. Read more: Britvic installs Tesco finance guru as new [...]
Ranked: These are the UK’s worst broadband and mobile firms July 23, 2019 Plusnet has topped a list of highest number of complaints for a broadband provider for the second quarter in a row. The Sheffield-based telecoms firm received 31 complaints per 100,000 customers between January and March, according to figures published today by regulator Ofcom. Read more: Which telecoms companies have the worst customer service? Plusnet was [...]
Ocado bags sales jump amid decline in supermarket sector July 23, 2019 Ocado has posted a double-digit rise in sales over the last quarter as it defied an overall decline in the supermarket sector. The online retailer boosted its sales by 11.9 per cent in the 12 weeks to 14 July, stealing a larger chunk of the competitive grocery market. Read more: Sainsbury’s sales slip in ‘tough’ [...]
Mobile operator Three defies Ofcom’s call for ‘fairer’ phone bills July 22, 2019 Mobile operator Three has clashed with regulator Ofcom over proposals to create fairer bills for customers after their initial contract period has ended. Ofcom today unveiled a string of new rules and said five major providers have pledged to cut bills for millions of customers. Read more: New rules could give fraudsters a back door [...]
Post Office appoints ex-Nisa boss Nick Read as chief executive July 18, 2019 The Post Office has appointed consumer business veteran Nick Read as its new group chief executive. Read will join the group in September and replace outgoing chief executive Paula Vennells, who earlier this year announced plans to step down after seven years in the job. Read more: Use your local post office or lose it [...]
City Moves for 18 July – who’s switching jobs at Foundry, Callsign and Saga? July 18, 2019 Today’s City Moves includes Foundry, Callsign and Saga. Foundry Foundry, which develops creative software for the digital design, media and entertainment industries, has appointed Jody Madden as chief executive officer (CEO). She joined Foundry in 2013 and has held positions as chief operating officer and most recently, chief customer officer and chief product officer. Prior [...]
Kicking up a fizz: Aldi champagne advert banned after Tesco complaint July 17, 2019 The advertising watchdog has banned an advert promoting Aldi’s own-brand champagne after Tesco complained it was misleading. Read more: TfL revises junk food ad ban after rules spark confusion In the advert, the German discount supermarket claimed customers could save 45 per cent on a selection of products when compared to rival Tesco. The products [...]
Travis Perkins accelerates plans to sell Wickes July 14, 2019 Builders merchant Travis Perkins has stepped up its plans for a £500m spin-off of DIY retailer Wickes. Travis Perkins has begun to prepare to demerge Wickes next year by separating the retailer’s IT systems from the rest of the group, the Sunday Times reported. Read more: Travis Perkins investors cheer first quarter sales growth The [...]