Starbucks posts record quarterly sales while Chinese stores feel Covid side effects August 3, 2022 Starbucks shares were elevated on Wednesday after the coffee chain posted record quarterly revenue. However, the US giant said its bottom line had been impacted by inflationary cost pressures and higher wages. It surpasses sales expectations, posting third quarter sales topping $8.2bn, ahead of analysts’ bets of $8.1bn. Roaring sales in the chain’s largest market [...]
UK pharma industry still suffering skills shortages despite progress August 3, 2022 The UK’s pharmaceutical industry is still suffering from skills shortages, despite recent progresses, the UK’s industry body warned today. “We’ve made progress in addressing some of the skills gaps that pharmaceutical companies have faced in recent years, with rapid improvements in areas such as biological and chemical science,” director of corporate affairs at the Association [...]
Bitcoin back above $23k as investor sentiment improved August 3, 2022 Bitcoin back above $23k as investor sentiment improved
KKR slumps to second quarter loss as deals slowdown hits August 3, 2022 Investment giant KKR slumped to a loss in the second quarter of the year after market volatility sparked a slowdown in dealmaking and a fall in the return on its investments.
Shaky start to August in the Crypto Markets August 2, 2022 It’s been a shaky start to August in the crypto markets, after things seemed to have settled down somewhat in July. The price of bitcoin has now fallen for four straight days
Cazoo CFO steps down as company reports £243m half-year loss August 2, 2022 Cazoo has announced its chief financial officer Stephen Morana will step down at the end of the year as the company reported a half-year loss of £243m. Morana will be replaced in the fourth quarter of this year by Graphcore finance boss Paul Woolf. “I would like to thank Stephen for his notable contributions, including [...]
Uber rides out inflation storm as it posts first positive quarterly cash flow ever August 2, 2022 Uber appeared to defy inflationary woes as the ride-hailing posted a positive quarterly cash flow for the first time.
Domino’s Pizza UK franchisee posts subdued profit amid inflationary crunch August 2, 2022 Domino’s Pizza has taken a hit to pre-tax profit in the first half of the year thanks to the heightened costs of food. The London-listed company posted profit of £50.9m for the six months to 26 June, a 16 per cent drop in profit versus the previous year. The firm said it began passing on [...]
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” [...]
Travel and tourism vacancies threaten UK economic recovery August 1, 2022 The UK’s economic recovery is being threatened by significant vacancies in the travel and tourism sector. According to a report published today by the World Travel and Tourism Council (WTTC), 128,000 industry jobs go unfulfilled in Britain, with one in 14 jobs remaining vacant. Figures revealed that the UK’s hotel industry was the worst hit [...]