Domino’s takeaway: Pizza chain announces £20m share buyback as UK sales soar May 4, 2023 UK consumers shrugged off inflation and a cost of living crisis to order more pizza, according to UK and Irish-based chain Domino’s. The fast food chain said sales increased to £386.6m across its branches, up 5.6 per cent compared to the same period last year. Quarterly orders at Domino’s Pizza group grew 2.8 per cent [...]
The Square Mile and Me: Fintech supremo Tim Levene on Moscow’s vodka scene, Coya City and a bold call for 2023 May 4, 2023 The fintech fund boss and founder of Crussh and Flutter strolls down memory lane in City A.M.'s weekly Q&A
Let’s be honest, we can’t keep blaming supermarkets for the sky-high food prices May 4, 2023 Supermarkets get all the blame for the sky-rocketing food prices. But they've tried to keep prices as low as possible against inflationary pressures and supply chains disruptions, writes Matthew Lesh
Federal Reserve bumps interest rates 25 basis points higher in what may be its final hike May 3, 2023 The US Federal Reserve today hiked interest rates for the tenth time in a row in what could be its final move.
Porsche sees jump in profit and sales as luxury brands float above recession fears May 3, 2023 Porsche, the German-based car manufacturer, reported a 25 per cent jump in its profit this quarter as luxury car demand remains unperturbed amid a gloomy global economy. The luxury car marque saw its operating profit jump 25.4 per cent to €1.8bn (£1.59bn), beating analysts’ predictions, while sales rose 25.5 per cent in the first quarter [...]
FTSE 100 close: London index claws back losses ahead of US Federal Reserve interest rate decision May 3, 2023 London’s FTSE 100 regained ground this today after nursing sharp losses yesterday driven by fears over the global banking system flaring up again. The capital’s premier index jumped 0.2 per cent to 7,788.38 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.27 per [...]
Coca-Cola HBC’s revenue fizzes almost 25 per cent – but Russia exit still hurts a year on May 3, 2023 Coca-Cola HBC AG, the bottling company of the soft drink giant, reported strong revenue growth at 22.2 per cent, but it continues to take a hit from withdrawal of its business in Russia last year. Net sales revenue were up 24.4 per cent, but the firm stated that foreign exchange movements, particularly currency devaluation in [...]
Lloyds profits swell by nearly 50 per cent as bank boosted by interest rate rises but guidance remains unchanged May 3, 2023 Lloyds first quarter profits rose 46 per cent as the bank became the latest UK lender to see its bottom line boosted by a hike in interest rates. The lender’s pre-tax profits came in at £2.3bn compared to £1.5bn the same quarter last year. Charlie Nunn, chief executive of Lloyds Banking Group said: “The group [...]
A green price to pay: Why offshore wind’s rising costs pose a challenge for renewables May 3, 2023 Offshore wind generation is now facing real cost challenges for building new turbines raising the prospect of higher prices.
Stephen King interview: Inflation is ‘profoundly undemocratic’ and must be stopped May 3, 2023 What kind of world do we live in today? From an economists’ view, one that’s a lot different from just a handful of years ago. War in Europe. Strained global trade. Government debt stocks at multi decade highs (certainly in the UK). All fixtures of our present day lives. But there’s two things that have [...]