McDonald’s revenue growth to moderate as menu prices ease July 27, 2023 McDonald’s said on Thursday that revenue growth was expected to moderate in the second half of the year as signs of easing inflation prompt the burger giant to temper menu prices. Shares of the company were, however, up 1.5 per cent in morning trading after the burger chain posted better-than-expected quarterly profit and sales as [...]
Westfield owner reports solid earnings as shopping centres show signs of recovery July 27, 2023 The owner of London’s Westfield shopping centres today reported a 1.6 per cent bump in earnings in the first half year, with net rental income across its property portfolio reaching €1.15bn (£989bn). Unibail-Rodamco-Westfield, which is headquartered in Paris, said EBITDA rose slightly by 1.6 per cent to €1.157bn (£993m). In its shopping centre division, which [...]
The Square Mile and Me: Prospective alderman Marcus Fincham takes a stroll down memory lane July 27, 2023 We dig into the memory bank of the City’s great and good: this week, Marcus Fincham, prospective City alderman, reveals his top spots, favourite memories and career highlights. What was your first job? Working in a kennels – it was great fun feeding the dogs, but less fun cleaning up after them. What was your [...]
Beverly Hills, 9021: Oh! Checking into the Beverly Hills Hotel for its centenary year July 27, 2023 The Beverly Hills Hotel, aka The Pink Palace is still the place to be seen in Hollywood, says Siobhan Grogan. From celeb-spotting to relaxing, this is still a rare paradise at 100 years old Within a few short hours of arriving in Los Angeles, I’m sitting metres away from two of the most famous women [...]
LendInvest founder Christian Faes: Why I left London for California July 27, 2023 Fintech founder Christian Faes tells City A.M. why he's swapped London for California.
From creche to healthcare, companies have renewed a social contract to staff July 27, 2023 Companies should start considering their responsibility to provide good quality healthcare for their staff, whether that's supporting them with mental health, on-site creches or eldercare, writes Eliza Filby
Deutsche Bank flags cost cuts as investment bank slump lowers profit July 26, 2023 Deutsche Bank on Wednesday posted a 27 per cent fall in second-quarter profit as investment banking revenue slumped and warned of the need for cost cuts even though higher interest rates fuelled gains at its retail division. The German lender downgraded its outlook for the investment bank, saying it now expected revenues to be slightly lower [...]
Heathrow narrows losses but blames CAA price cap for staying in the red July 26, 2023 Heathrow Airport said on Wednesday it remained loss making in the first half of 2023 despite soaring passenger figures, blaming a cap on the amount it can charge airlines for using the hub. For the six months to June, the west-London hub saw adjusted pre-tax losses halve to £139m but said that the airport “remains [...]
Just Eat CFO steps down as group returns to profit July 26, 2023 Just Eat Takeaway has said its chief financial officer Brent Wissink will step down next May as the group revealed it made a profit in the first half of the year. Wissink, who has been with the company since 2011, will step down in May next year at the company’s AGM to puruse other “opportunities”, [...]
London office investment slumps to 14-year low July 24, 2023 London office investment slumped to a 14-year low in the second quarter of the year, new data shows, as high interest rates stifled momentum built up in the early months of the year. Some £1.2bn was spent on London offices last quarter, a 59 per cent drop on the £2.9bn spent in the previous quarter [...]