Hostelworld eyes operational profitability later this year as travel demand rebounds August 10, 2022 Travel platform Hostelworld has said it hopes to be profitable at an operational level in the second half of the year, as holidaymakers have returned in recent months. In interim results, the London-listed company said net revenue hit €28m in the period, compared to just €2.9m the previous year, as travel restrictions eased. While overall [...]
Soft earnings weigh on London’s FTSE 100 as IWG slumps 12 per cent August 9, 2022 Weak results from the UK’s largest companies amid the quieter summer period weighed on market sentiment in the City today. The capital’s premier FTSE 100 index squeezed out a small gain of 0.08 per cent to close at 7,488.15 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of [...]
German tyre maker Continental posts €251m loss following ‘hurricane’ of setbacks August 9, 2022 German automotive manufacturer Continental has posted a quarterly loss of €251m (£212.3m) as it described the current setbacks as a “hurricane.” “The current headwind is rather like a hurricane and will not subside any time soon,” commented chief financial officer Katja Dürrfeld. “Given this environment, we have performed well and become more resilient. “We cannot [...]
Today’s elections in Kenya: Meet Esther Passaris, not your average Nairobi household name August 9, 2022 It’s D-Day in Kenya as the country is holding its biggest election in years today. Polls opened at 7am this morning for more than 22m registered voters, who will today endorse their favourite candidates in 46,232 polling stations across the country. All eyes are on the top job, with outgoing President Jomo Kenyatta leaving government [...]
Exclusive: Energy giants urge struggling customers to get in touch ahead of winter August 9, 2022 Some of the biggest energy firms have encouraged worried customers to make contact with them as soon possible.
Automation isn’t about replacing staff with machines, it’s about focused work August 9, 2022 Scanning the candidates vying to become the next prime minister, the most immediate question springing to mind is: who on Earth would want that job? Soaring inflation, snarled supply chains, labour shortages and some of the detrimental effects of Brexit are plaguing our country. Whichever way you look at it, the UK finds itself in [...]
Savills hikes forecasts for London rents, with prices set to rise to new heights August 8, 2022 Savills has hiked its five-year forecast for the prime London rental market, with rents set to continue rising to new heights. The capital had suffered an exodus of international students and business folk, as well as Brits seeking greener pastures, during Covid-19 restrictions, which resulted in plummeting rental costs. The estate agency now anticipates prime [...]
The Works warns of cost of living impact on Christmas sales August 8, 2022 Stationery chain The Works has slashed its guidance for the 2023 financial year and warned about consumer spending amid the Christmas spending period. The London-listed company, which sells discount books, toys and art supplies, said the general market outlook had “deteriorated” since the start of the calendar year, pointing to “low consumer confidence and rising [...]
Thousands of Londoners will not get post until after 6pm following Royal Mail redesign August 8, 2022 Thousands of people across the UK may be waiting until after 5pm to get their post under the Royal Mail’s new proposals. Hundreds of areas in the country could be affected, with London, Cornwall, Wales, and Scotland having post delivered by 6pm or later as the postal service looks to push back deliveries until later [...]
Shipping services provider Clarksons posts buoyant profit after ‘supply shortage’ in global fleet August 8, 2022 Shipping services provider Clarkson has posted a profit boost for the first six months of the year, with underlying profit before tax sitting at £42.2m. The London-listed firm saw underlying profit before tax rise some 53.5 per cent in the period. The shipping firm posted £266.7m in revenue for the six months to 30 June, [...]