IT provider Softcat soars in full year results amid strong demand October 26, 2021 IT services provider Softcat reports record full-year results to 31 July 2021 amid strong public sector demand and corporate recovery
Bunzl’s acquisition spree pays off in revenue boost October 26, 2021 Distribution and services group Bunzl has enjoyed 13 per cent revenue jump in its third quarter, which was boosted by its acquisition spree. After its 11th acquisition year, the fresh buyouts of agricultural supplies distributer Intergro and McCue Corporation have contributed 4.3 per cent to its revenue at constant exchange rates. Bunzl boss, Frank van [...]
THG ramps up governance overhaul and begins search for independent chair October 26, 2021 UK e-commerce company THG said this morning it has appointed a consulting firm to begin a search for a new independent chair for the company, in its latest attempt to appease City investors with doubts about the governance and transparency of the business. Alongside its third quarter results this morning, the group announced it had [...]
Editorial: Facebook needs to change to win friends back October 26, 2021 Move fast and break things was once the defining force behind Facebook’s success, but perhaps Mark Zuckerberg may reflect that the mantra was supposed to be about technological innovation – not the social fabric that holds us together. Let’s be clear: Facebook is in a lot of trouble. Regulators are gearing up for a fight, [...]
Budget: Scrap £159 BBC licence fee and sell Channel 4, urges TaxPayers’ Alliance October 26, 2021 The TaxPayers’ Alliance (TPA) has called for the sale of Channel 4 and the scrapping of the BBC licence fee ahead of the Budget this week. The campaign group has also proposed that most of the BBC should be sold off and the corporation cut down to one television channel, radio station and online service. [...]
Tory MPs call for UK government to pull out of global tax deal October 25, 2021 A pair of Tory MPs have called for the UK government to pull out of the global corporation tax deal, claiming it could cost the Exchequer billions in tax revenues. Backbenchers Greg Smith and Andrew Bridgen called for Rishi Sunak to reconsider his commitment to the deal, after he helped broker it at this year’s [...]
UK banks still stung by largest tax raid even if bank surcharge is slashed October 25, 2021 London will sting banks with the largest tax raid out of all of the world’s leading finance hubs even if the Chancellor slashes the bank surcharge at this week’s budget. UK based banks will still be hit by a 46.5 per cent levy in 2024 even if Chancellor Rishi Sunak cuts the bank surcharge to [...]
Number of retail M&A deals soars as buyers eye economic recovery October 25, 2021 The number of M&A deals targeting UK retailers has swelled 28 per cent to 37 in the past year, new analysis has found. City law firm RPC found that the number of deals rose from 29 in the previous year while the Morrisons and Asda deals saw deal value skyrocket. Value has soared more than [...]
Voter turnout in the City’s local elections will reflect the diversity of the Square Mile October 25, 2021 Over the centuries, the City of London has always adapted to remain a world-leading business ecosystem. The Square Mile is today once again at a crossroads and needs you to help shape its future. We must rise to at least three big challenges: recovery from the pandemic, the UK’s exit from the European Union and [...]
UK investors cheer third quarter dividend windfall October 25, 2021 As supply chain, labour and inflation storm clouds gathered on the horizon, City investors toasted an overflowing dividend pot and the end of this summer – boosted by the FTSE’s mining, oil and banking companies. Total UK dividends soared to £34.9bn in the three months to 30 September, up by nearly 90 per cent on [...]