Ping An proposal to break up HSBC gains momentum as small investors back plan August 3, 2022 HSBC investors are ramping up calls for the banking giant to break up as they side with Chinese insurance company Ping An. Pressure on the bank to shave off its Asian business into a separate company increased after a meeting with HSBC executives and Hong Kong investors yesterday, as small shareholders backed the proposal by [...]
Oxford City Football Club Partner with CoinCorner To Accept Bitcoin August 3, 2022 Oxford City FC is the first National League football club to accept Bitcoin and Lightning payments, in a partnership with CoinCorner. Douglas, Isle of Man — Oxford City FC has become the first National League club to accept matchday payments in Bitcoin after entering a multi-year partnership with CoinCorner. The partnership will allow supporters to purchase tickets, [...]
Insolvencies surge to highest rates since financial crash as voluntary bankruptcies hit record levels August 2, 2022 The UK government’s Insolvency Service today said it recorded a higher number of insolvencies over the past three months than at any other point in more than a decade, after the numbers of companies declaring voluntary bankruptcies hit their highest levels since records began. The past three months saw a total of 5,629 English and [...]
Rio Tinto completes sale of Cortez Gold Royalty for $525 million in cash August 2, 2022 Rio Tinto has completed the sale of a package of royalties, including a stake in the Cortez mine operational area to RG Royalties in a $525m deal.
Fresnillo reports lower revenues as gold volumes fall and Covid’s impact lingers August 2, 2022 Fresnillo reported lower revenues for the first half of 2022 due to the drop in gold volumes and silver prices, with Covid’s impacts still a concern. The Mexican metals mining company reported adjusted revenues of $1.35bn, a drop of 12.6 per cent as volumes and prices of precious metals that the company mines declined. The [...]
Direct Line Insurance reports lower profit amid rising inflation and uncertain economic conditions August 2, 2022 Direct Line Insurance Group reported lower profits for the first half of 2022 as rising inflation and a gloomy market outlook impacted performance. The insurance company had a 47 per cent drop in operating profit to £195.5m from the first half of 2021 as it dealt with “challenging” market conditions and tighter FCA regulations. Profit [...]
Londoners rent out homes by the hour to offset rising costs, says Peerspace boss August 2, 2022 There has been a “huge uptick” in Londoners renting out their homes by the hour, as a cost of living crisis and an explosion in content producing for the likes of TikTok and YouTube collide, according to one property venture’s boss. After launching in the UK last year, Peerspace, a marketplace for “off the beaten track” [...]
IFS: Sunak’s pledged Income Tax cut smaller than his tax rises as chancellor August 1, 2022 Rishi Sunak’s newly unveiled promise to cut the basic rate of Income Tax from 20p to 16p by the end of the decade is smaller than the tax rises he made as chancellor, according to an influential economic think tank. The Institute for Fiscal Studies (IFS) today also said the tax plans of Sunak and [...]
Pearson goes back to normal after Covid and announces higher sales and operating profit August 1, 2022 Pearson announced stronger sales growth and operating profit for the first half of 2022 as it reaffirms expectations for the full year. The education company’s underlying sales growth grew 6 per cent to £1.8bn as British and international examinations normalised after Covid disruptions. The company’s adjusted operating profit rose by £33m to £160m due to [...]
England Women set for sponsorship offers after Euros success turns Lionesses into stars August 1, 2022 The stars of England’s success at Women’s Euro 2022 could be in line for lucrative personal sponsorship deals as a result of the tournament making them household names. Lionesses including captain Leah Williamson and super-sub Alessia Russo have enjoyed greater prominence than ever as women’s football has made the front and back pages. But the [...]