Sadiq Khan sets aside £43m for Londoners struggling to keep homes warm May 31, 2022 London mayor Sadiq Khan has set aside £43m to boost his Warmer Homes programme, which seeks to support those in poorly insulated properties. With energy bills expected to rise again this winter, amid a cost of living crisis, Khan is looking to create grants of between £5,000 and £25,000 available to low-income households. Energy regulator [...]
Soaring costs offset revenue boost for South West water giant Pennon May 31, 2022 South West water giant Pennon labelled 2021 a year of “resilient performance” today as it posted a dip in pre-tax profits to £127.7m for the full year.
B&M sales dip as discount retailer names new chief May 31, 2022 Discount retailer B&M has warned trading patterns are anticipated to “remain unpredictable” in the year ahead, while it feels ready to reap the rewards of shoppers hunting for bargains amid sky-high inflation. In results for the year to 26 March 2022, group revenue dipped 2.7 per cent on the prior year to £4.67bn. However, this [...]
Primark chief regrets raising prices but says it is ‘a reflection of the scale of inflation we are seeing’ May 31, 2022 Primark executive John Bason said he “regrets” the fashion firm’s decision to raise prices. In April, Primark warned that it will increase prices on its autumn and winter collection as costs go up for businesses around the world. The budget fashion chain said it would make “selective” rises in the range. Bason, who is the [...]
Davos, once a rollcall of decision makers, has sagged under the weight of its ambition May 31, 2022 HAS Davos lost its mojo? While it was great to be able to stroll around taking in the Swiss air last week without struggling through crowds of Nobel Prize winners, CEOs and billionaires in snow gear, it also felt like a turning point. What sets the World Economic Forum annual meeting apart from other events, [...]
Letters: Paying our way out of a crisis May 31, 2022 [Re: Sunak hits energy firms with windfall tax to pay for £15bn cost of living package, May 27] So, led by the nose…here we go again. Whenever the condescending contrickselfservative “party” find themselves in a difficult place they wave a little money in front of people’s noses to gain their support and buy their votes. [...]
Oil prices rise above $120 milestone as China finally lifts oppressive lockdown measures May 30, 2022 Oil prices breached the $120 milestone today - hitting a two-month high as China eased Covid-19 restrictions in its biggest city.
The City View: Sainsbury’s to cut prices, and the importance of UK private equity May 30, 2022 Today Andy Silvester talks to Michael Moore, Director General at BVCA. They discuss the scale of private equity and venture capital in the UK, their importance in the UK’s employment market, and how vital they are for companies looking to scale up. And in the headlines: Sainsbury’s CEO Simon Roberts has said that the supermarket [...]
Chief executive pay at FTSE 100 firms bounces back to pre-pandemic levels May 30, 2022 The sums paid out to chief executives at the City’s major listed firms have bounced back to pre-pandemic levels, after jumping 30 per cent over the previous year to five year highs of £3.62m. The pay packages mark a return to levels last seen before the pandemic and a 30 per cent increase on the [...]
S4 Capital revenue surges as Martin Sorrell confident about digital ad sector despite economic slowdown May 30, 2022 Ad giant S4 Capital posted buoyant gross profit of £171.1m this morning, despite Martin Sorrell’s brainchild battling macroeconomic challenges and accounting delay woes. In results published on Monday for the first quarter, reported revenue was up 70 per cent to £206.8m and gross profit/net revenue up 64.6 per cent to £171.1m. S4 Capital said it [...]